QuickBooks cogs incorrect (also called Negative Quantity on hand) occurs when you enter sales before purchase transactions in Quickbooks. The inventory items you have in stock are no longer in stock, so they have been sold. It's very bad because it leads to these problems with Quickbooks:
A constant rebuilding of the file, because of data loss, is necessary to bring back balance to your B/S
Balance Sheet cash basis shows an imbalance
It appears that profitability and costs for goods sold are inaccurate
A balance sheet error has been found in the Inventory Accounts
Vendors submitting incorrect reports
This account cannot be verified because there are not enough funds. A surplus of funds has occurred. RCRs number 99.
When checking the balance of the account, an error occurred. There is zero calculation bal, and there is an overflow calculation bal.
An overflow caused this error. Each of your accounts has a limit. Your chart of accounts must have a value of 10,000,000,000 or less.
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