QB Issue Resolution:
Yes these transactions were generated from the sales transaction (the same is true if I make an inventory quantity adjustment). We operate on an accrual basis. The sales booked ok against AR and have subsequently been paid.
I have attached a copy of the GL Inventory account. The bill from the vendor was processed previously and is reflected in the balance at the top. As you can see from the transactions (I entered an inventory adjustment today to show this) they still do not pick up a value. If I run the inventory valuation report the values reflect properly in that report. The purchase date is before the sale date for most transactions, however the purchase (vendor invoice) is in AP but has not been paid (terms are 60 plus days). I have attached the GL for AP showing this.
It does not matter if bills or invoices are paid or not for inventory valuation
Some questions that come to mind:
– In the Bill on 9/24 did you use the same item as you used in the invoices?
– When you set up the inventory item did you enter a quantity, but zero cost?
– Did you leave the default linked accounts (for COGS and Inventory) in the inventory item set-up screen?
A screen shot of the Inventory Detail report for this item would be useful
Resolution for Issue 'Inventory transactions show in ledger without a value' available: Yes (Solved).
Source: Intuit Community forum.
Inventory transactions show in ledger without a value: 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.Support for COGS
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