Under the Inventory valuation report, the quantity is zero but there's still a value under the Asset. What can I do to zeroise it?

Let's work together to clear up any confusion and figure out why there's an amount under the Asset Value where the quantity is zero, CL2121.

We can run the Inventory Valuation report and check the ASSET VALUE amount. This allows us to see all transactions and any inventory adjustments linked to the figure shown in the report. Here's how:

1. Go to the Report menu.
2. Choose Reports.
3. Enter the Inventory Valuation Summary or the Inventory Valuation Detail report in the search field.
4. Click the Customize button.
5. In the General drop-down, set the dates correctly in the Report period.
6. Press the Run report tab.
7. Double-click on the amount under the ASSET VALUE column. 

Then, we can review the inventory item's starting value and change it to zero (0) to clear the figure. In this case, we suggest consulting an accountant for other ways to clear the amount.

You also have the option to edit or delete an inventory quantity adjustment to correct this. You can follow the steps and details in this article: Adjust inventory quantity on hand in QuickBooks Online. Then, go to Edit or delete an inventory quantity adjustment section.

Moreover, you can refer to this article on how to check your inventory to always have an accurate count: Fix negative inventory issues in QuickBooks Online.

We are one post away if you have additional questions about managing your inventory or any QuickBooks-related concerns. You have a good one.