Inventory Asset account showing over 1.2M on cash basis and correct value of $128K in Accrual
planned
M
Maggie LaHaie
Since the switch to modern reports the cash value of my inventory, that is being tracked in QBO went from the normal value of less that 150K to over a million dollars. This is all coming from the initial "Starting Value from Desktop" which is how QBO brought over the inventory in the transition from QBDT
Photo Viewer
View photos in a modal
Subhanan Sahoo
updated the status to
planned
Subhanan Sahoo
Maggie LaHaie I have acknowledged and logged the issue and am sharing it with our Inventory Accounting team who will apply the necessary fix. Once resolved, the values should render correctly in reports.
One quick question before we proceed, could you confirm whether the correct value is showing in Classic Reports and the discrepancy is only being observed in Modern Reports? This will help us investigate and prioritize the fix more effectively.
M
Maggie LaHaie
Subhanan Sahoo As you can see in classic reports it is still displaying the correct number. I am only able to get to classic reports at this time because of RightTool, QBO does not allow me to switch back to classic anymore. So if i did not have RT I would not even know this was still correct in the classic reports. We are not even supposed to be able to access these reports anymore.
Photo Viewer
View photos in a modal
Subhanan Sahoo
updated the status to
not planned
M
Maggie LaHaie
Subhanan Sahoo This is a serious accounting issue. Why won't QBO take it serious and figure out how to resolve the issue? This client reports on an Accrual basis and i am no longer able to run a Accrual BS report.
The status was updated to
under review