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V8 - Inventory value report

The Inventory value report (Operations menu > Reports > Inventory > Inventory value) shows the value of the items that are in stock as of the end of the day on the selected date of the report. The report can be filtered by a single location, a particular category, or text contained in the item name. For the purposes of reconciliation, the Inventory value report should be run for all items (no text filter), all categories, and all locations.

The results of the Inventory value report can then be compared to the combined total of all inventory asset accounts used by SOS Inventory items in QuickBooks.

If the valuation in SOS Inventory matches the total of the asset accounts as stated above, the reconciliation process is essentially complete.
If the valuation in SOS Inventory does not match the total of the asset accounts as stated above, the Inventory value report should be run for an earlier date and compared to the total of the asset accounts on that date to establish the time period when the systems diverged.

edit_noteNOTE: The Inventory value report will not reflect values of items that have been archived or deleted (inactive). However, you will find these settings under the Options section of the report.

edit_noteNOTE: Once reconciliation is complete and the SOS Inventory value report coincides with the asset account(s) total in QuickBooks Online, we recommend that you close the books for that period both in SOS Inventory and in QuickBooks Online.

edit_noteNOTE: If the value of the SOS Inventory value report is close to the value of the asset account(s) in QuickBooks Online, it indicates that rounding issues exist. SOS Inventory can display values up to five decimal places, where QuickBooks Online can only do three. This causes values sent to QuickBooks to be rounded to accommodate the difference.

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