Hi @RKN,
Thank you for your prompt reply, as well as sharing an update on your current status.
The Inventory Offset account is a liability account. It's generated by QuickBooks Desktop (QBDT) when you enable the Enhanced Inventory Receiving feature.
You can run a custom report to reconcile it, which isolates the negative amount you stated earlier.
Here's how:
- Go to the Reports menu.
- Highlight Customer Reports.
- Select Transaction Detail.
- Move to the Filters tab.
- Choose Account and set it to Inventory Offset.
- From the Display tab, set Date Range to All.
- Under columns, tick the box on Item.
- Pick Vendor from the Total By drop-down menu.
- Click Item from the Sort By drop-down menu.
- Press OK.
Note: It's necessary to create an Item Receipt first, then enter a bill against it to relieve the Inventory Offset account.
If you have other questions about the Landed cost feature, see this article: Landed cost FAQs.
I'll be around if you need further help. Place a question below, and I'll get back to you.
