Out of Balance inventory value
Hi guys,
Need help here.
Recently I just run the inventory value reconciliation report and found out that my inventory value is difference with "Balance Sheet Inventory Value".
Anyone could help me how to fix this?
Thank you
Regards
SWI
Hi SWI-Accounts
If the out of balance goes all the way back to the start of the file, this would generally indicate that the opening balance on that account has been changed. The only way to double check this would be to restore a backup or two from different points in the past and checking the opening balance of that account.
If you were wanting to resolve it using a journal entry to remove the out of balance on the account, I recommend speaking with your accountant over how that journal entry should look. Do note that this will only correct the out of balance for after the journal is recorded. If you ran the report for after before the journal entry was recorded the out of balance will still exist.