Thank you!  If I am following correctly, I have 2 issues I need to resolve:

• I used 'Initial quantity on hand' to bring all my inventory into QBO.    We were a Sole-Proprietor that become a Corporation.  The inventory is coming from that “ownership” transfer into the new Corporation QBO data file. What is the proper method to bring this inventory in?  Should I enter a Bill, Expense or Check?  That could bring the inventory in - then how do I “pay” for it?

• If I am using Inventory Tracking, then it is recommended that I use Accrual method in QBO.  If I switch methods in QBO,  P&L and Balance Sheet will report Inventory/COGS accurately.  We prefer to report to the IRS on Cash Basis, is there a work around?  I ran Cash and Accrual reports and compared, the only section that has a difference is the COGS section on P&L and Inventory Asset on Balance Sheet. 

Thank you!

Corina