QB Issue Resolution:

Having an accurate inventory is important for a successful business, sasconsultingser.

 

Inventory Asset account helps you keep track of the value of the inventory that you currently have on hand.

 

When you record the purchase of an inventory item, it increases the Inventory Asset account and credits the A/P, bank, or credit card account.

 

Here’s a sample screenshot on how it looks like when you view the transaction journal of a bill.

 

 

I’m also adding this article that discusses more on Inventory Assets.

 

To run reports for your inventory, you can find the steps here: How to customize Inventory Reports.

Resolution for Issue 'Why does my inventory asset account increased when I have received and entered a bill for inventory items set up through a purchased order and the bill is received?' available: Yes (Solved).
Source: Intuit Community forum.

Why does my inventory asset account increased when I have received and entered a bill for inventory items set up through a purchased order and the bill is received?: 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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