QB Issue Resolution:
You need to download and read IRS Pub 225
Farmers and ranchers have special rules and limitations on expenses, and the advice of a local tax accountant familiar with farming is someone you need to ask these kinds of questions.
IRS pub 225, page 21 makes this statement invalid
Or, you tracked all inputs (seed, fertilizer, etc) into a WIP account = Other Asset. That means the Offset for Cost per Bale will = the amount in WIP, to “Close WIP to Production on hand.”
Resolution for Issue 'We are a family farm and grow hay for sale as square bales? How do I create an inventory item as SQUARE BALES and add to that as we harvest more hay?' available: Yes (Solved).
Source: Intuit Community forum.
We are a family farm and grow hay for sale as square bales? How do I create an inventory item as SQUARE BALES and add to that as we harvest more hay?: 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 accountant familiar
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