You data file has a discrepancy in the Inventory Asset account:
This may happen if:
Note: If you are using the Accountant's Edition of QuickBooks, you can use the Client Data Review that includes a tool to help resolve this issue.
The Balance Sheet report draws information from the accounts whether they are associated with items or not. The Inventory Valuation reports, however, draw information from items only. This means that transactions using inventory items show on both reports but transactions without inventory items show only on the Balance Sheet report.
Some examples of transactions that will show on the Balance sheet but not the Inventory Valuation reports are as follows:
To resolve the problem, try one of the following solutions.
If inventory adjustments are dated in the future, change the date range to include all future adjustments, and then re-run the Inventory Valuation report.
The Balance Sheet report displays both active and inactive inventory, but the Inventory Valuation Summary report displays only active inventory items. The value of an inactive item is included in the Balance Sheet because it affects the Inventory Account but it is not included in the Inventory reports because it is inactive. To fix the discrepancy, try one of the following solutions.