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Discrepancy Between Balance Sheet Inventory Account and Inventory Valuation Report
Hi NetSuite Community,
I'm looking for some insights into a puzzling discrepancy. We have an inventory asset account that’s linked to our inventory and assembly items. However, when I review the Balance Sheet, the amount for this asset account is significantly higher than the actual inventory valuation.
Here's what I understand so far from SuiteAnswers:
- Inventory Valuation Report: This report is based on transactions directly affecting the item and its valuation, such as purchases, sales, or assembly builds.
- Balance Sheet Inventory Account: This value is pulled directly from the GL account balance. Transactions not directly linked to items—like Journal Entries, Bills, Checks, and Deposits—can impact the inventory account in the Balance Sheet, potentially causing discrepancies.
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