Repair Negative Inventory in QuickBooks

Correcting mistakes with negative inventory.

Sometimes we put the cart before the horse, and end up entering sales transactions before entering purchase transactions within QuickBooks. What negative inventory indicates, is that you’ve sold inventory that is not currently in stock. While it’s great for your bottom line, it’s not so great for your QuickBooks.

What errors arise when negative inventory occurs?

• Data can become damaged to the point that the file must be rebuilt entirely
• Cash-basis balance sheet becomes out of balance
• Vendor reporting is incorrect
• Cost of Goods Sold (COGS) and profit amounts are incorrect

How we can help.

• Consult with you to identify whether negative inventory is an issue within your QuickBooks
• Identify the extent of negative inventory to mitigate, and develop a plan of action to complete the project effectively