I am:
- Using QuickBooks Online
- Tracking Inventory quantities and values.
- Accounting method is set to Cash Basis
- Using Sales Receipts only


I started inventory on 12/01/23.  I entered each with a starting value and quantity. 

When I ran a CASH Balance Sheet dated for 12/1 it appears as:
ASSETS > CURRENT ASSETS > OTHER ASSETS > INVENTORY ASSET = $253,247.64

And it also appears on the Balance Sheet as:
EQUITY > OPENING BALANCE EQUITY INVENTORY TRANSFERRED = $253,247.64

My starting inventory value is correct.  I have been selling that inventory using Sales Receipts. And bringing inventory in using Purchase Orders and Bills. The Inventory Quantities are changing as they should.  When I view the Chart of Accounts list, the INVENTORY ASSET register is showing decreases and increases, the value is changing.    

The problem is when I run a Balance Sheet Cash Basis All Dates report the INVENTORY ASSET value is not changing at all.  It is still the original value from 12/1 of 253,247.64.  

Shouldn’t the Chart of Accounts > INVENTORY ASSET register value be = to the Balance Sheet Cash Basis All Dates for INVENTORY ASSET? 

Out of curiosity, I changed the Balance Sheet to Accrual, then the INVENTORY ASSET changes value and is correct.  The Accrual report value matches the Chart of Accounts list for INVENTORY ASSET.

Why is the Balance Sheet Cash Basis All Dates report not showing the value changes to INVENTORY ASSET?  It has not changed at all from the start.

Thank you!
Corina