As everybody is well-acquainted with QuickBooks Desktop, such a robust accounting mechanism that assists the users in troubleshooting user’s glitches instantly. Usually, users encounter negative inventory when they punch the sales transactions before filling interrelated purchase transactions. This is not optimum in QuickBooks because of certain grievances such as inaccurate vendor reports, cash-related balance sheet due balance, inappropriate profit and COGS amounts, and an overflow error, etc. This article of ours would include in detail on How To Fix Negative Inventory Issues in QuickBooks Desktop? Have a quick look at those:
Rectifying Steps To Resolve Negative Inventory Issues in QuickBooks Desktop:
- Firstly, uncover the menu and then just hit a click on the Reports option.
- Then, just click on the Navigate inventory and then Inventory Valuation Detail.
- Now, choose the drop-down arrow named Dates and tick on All option.
- After that, just scroll down the report to each item displaying a negative amount written in the On hand column.
- Later, just perform the bills setting with an accurate date.
- Then, just repeat instructions 3 and 4 with persistence of a negative quantity.
Points To Be Taken Care Of Before Troubleshooting
- Backup company files without clash with the past backups. Make sure that you have saved backup in a safe folder.
- A costly negative inventory is a complicated and risky task. So, it is a better option to begin with, a new data file.
- Firstly, look for the reports menu and then just click on the inventory option.
- Then, just click on the on inventory Valuation summary.
- QuickZoom and execute the double item displaying inaccurate values. The entire details of the transaction associated with the items will appear.
- Now, just look for the initial bill displayed to run the bills window.
- Then, just customize the bill date prior to the starting invoice appearing on the report.
- Then, just click on the Save & Close option if you want to record the bill with a recent date
- Finally, just validate the incorrect item and modify it.
- Firstly, execute transaction dates settings.
- Then, look for the menu bar and then just click on reports then choose inventory and after that Inventory valuable details.
- Then, select the drop-down named Dates and then just click on All options.
- Now, scroll down the reports mentioned with a negative amount
- Then, just change the bill’s date.
- Finally, save it.
- If you really want to evade negative inventory it is advised that you never attempt to sell inventory items unless you have purchased that item.
- Then, again set-up entire inventory items with an opening balance.
- Now apply sales orders or estimates to fill sales associated with inventory.
- Now utilise the pending invoice while punching sales.