QB Issue Resolution:

Doing periodic inventory means that you have a determined the actual inventory asset on a specified date. If that tally was correct, and you have already posted it in QB – then try not to change it by making any changes to the inventory asset account. Or – if if does get changed then you have to adjust it back to where it should be.

If you have missed entering a sale of an inventory item then Yes you should record it and that will reduce inventory. So then you will have to edit the inventory adjustment already made, so the closing inventory balance goes back to where it should be

Resolution for Issue 'I recently found some inventory that was not previously accounted for. How do I enter the value of this inventory into QBO. The issue I will now have is that the inventory asset will now go into a negative value because I am selling more than I initially purchased. Is there a way to enter a new Balance. I don’t what account to credit using a journal entry since I technically did not pay for the inventory. I am currently using the periodic inventory method' available: Yes (Solved).
Source: Intuit Community forum.

I recently found some inventory that was not previously accounted for. How do I enter the value of this inventory into QBO. The issue I will now have is that the inventory asset will now go into a negative value because I am selling more than I initially purchased. Is there a way to enter a new Balance. I don’t what account to credit using a journal entry since I technically did not pay for the inventory. I am currently using the periodic inventory method: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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