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account assignments: Inventory Asset Way Too High on Balance Sheet

Assuming you have never used the inventory asset account in a transaction, a journal entry or and adjustment – it sounds like the item account assignments are wrong. If you have use inventory asset in any of the above type of transactions, that is the problem, you can not do […]

Resolution for 'account assignments issue: 'Inventory Asset Way Too High on Balance Sheet' available: Yes.

The account assignments 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 account assignments issue yourself by looking for a resolution described in the article. If it is a complex account assignments issue or you are unable to solve the issue, you may contact us by clicking here or by using other account assignments support options.

For more information about resolving issues related to account assignments in Quickbooks/QBO or to get support for the issue 'Inventory Asset Way Too High on Balance Sheet', click the link below:

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account assignments: Adding inventory items to an expense

check the account assignments on inventory type items

Inventory items have three accounts
expense = COGS inventory items
income = your sales income account
asset = inventory asset

Did you also delete the one one expense line for inventory asset from the expense transaction?

Resolution for 'account assignments issue: 'Adding inventory items to an expense' available: Yes.

For more information about resolving issues related to account assignments in Quickbooks/QBO or to get support for the issue 'Adding inventory items to an expense', click the link below:

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