We have made Inventory in Cuba Libre Pvt. Ltd. as Zero on 30-06-2022. However, in Balance Sheet, Inventory Asset is still showing as SGD (52,075.74) as on 30-06-2022.

I can tell why the Inventory Asset account on the Balance Sheet report is showing an amount, puja-eclectiquec.

The Balance Sheet report draws information from the accounts whether they are associated with items or not. The data file has a discrepancy in the Inventory Asset account when:

• The accrual basis Balance Sheet Standard run for All dates shows an amount.
• The Inventory Valuation Summary and Detail reports for all dates show a different amounts.

This may happen if:

• You have transactions to the Inventory Asset account that do not have inventory items.
• You have inactive inventory items that have a non-zero value.

To fix the amount on the report, please refer to this article: Balance Sheet and Inventory/Stock Valuation reports show different amounts for the Inventory Asset account. It shows for QuickBooks Desktop, however, you can run the same report and find affected transactions.

Access reports to instantly see your best sellers, what’s on hand, the cost of goods, and more. In addition to this, you can learn how to use reports to see inventory status and performance.

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