• Entering journal entries directly to the inventory account
• In rare cases, you may have a corrupted report (not your data)

Use the default report template

1. Create a backup.
2. Go to Reports and select the desired report.
3. Click Report Options, then select Default Report Options from the Template drop-down menu at the top. 
   • This resets the report and removes any corruption
4. Fill in the settings that you want for the report and click OK.
5. Repeat the steps for other reports.
6. If there’s no longer a difference between the GL balance and the Inventory Summary report, stop here.

You're using the Accountant's Edition

Create a general journal entry to modify the balance of the account to match the Inventory Summary report.

Your accountant made journal entries to the inventory account

1. This is the cause of the issue.
2. Send a backup of your data file to your accountant.
3. Ask your accountant to void these general journal entries.
4. Adjust the affected inventory items instead.

You're not using the Accountant's Edition

Update the Inventory General Ledger (GL) account so it matches the inventory sub-ledger. You must follow these steps ven if the sub-ledger is wrong and the GL account is correct.

 NOTE: This method won’t work if you’re using a serialized inventory.

1. Create an account called "ADJ ACCOUNT" with an account number between 1001 to 1999.
2. Create an inventory item called "ADJ ITEM".

The GL Account is too low

1. Go to Inventory & Services and select Inventory & Services.
2. Locate the ADJ ITEM and double-click to open it.
3. Select the Linked tab and change the Asset account to the inventory account that needs adjustment.
4. Adjust the ADJ ITEM up by one unit and by the dollar value required.
   • Don't use a negative amount in this step
   • The amount will be the difference between the inventory and the GL account
5. Post the adjustment.
6. Go to Inventory & Services and select Inventory & Services.
7. Locate the ADJ ITEM and double-click to open it.
8. Select the Linked tab and change the Asset account to ADJ ACCOUNT.
9. Adjust the ADJ ITEM down by 1 unit and by the dollar value required.
   • The dollar value is the same as in step 2, but negative as we’re using a -1 quantity
10. Post the adjustment.
11. Go to Inventory & Services and select Inventory & Services.
12. Locate the ADJ ITEM and double-click to open it.
13. Select the Linked tab and change the Asset account to a different account.
14. Create a Journal entry to correct the ADJ ACCOUNT and bring it back to its original balance of 0.
    • Use an expense account as the other account in the entry
15. Re-link the ADJ ITEM to the ADJ ACCOUNT.

The GL Account is too high

1. Go to Inventory & Services and select Inventory & Services.
2. Locate the ADJ ITEM and double-click to open it.
3. Select the Linked tab and change the Asset account to ADJ ACCOUNT.
4. Adjust the ADJ ITEM up by 1 unit and by the dollar value required.
   • Use a positive amount in this step
   • This amount is the difference between the GL account and the inventory
5. Post the adjustment.
6. Change the linked asset account for the ADJ ITEM to the original Inventory Account that needs correction.
7. Adjust the ADJ ITEM down by 1 unit and by the dollar value required.
   • The dollar value is equal to the one from step 4 but negative as the quantity is -1
8. Post the adjustment.
9. Create a journal entry to correct the ADJ ACCOUNT and bring it back to its original balance of 0.
   • Use an expense account as the other account in the entry
10. Re-link the ADJ ITEM to the ADJ ACCOUNT.

      Need more help?

The Cost of Goods Sold Expense account isn’t showing the correct balance