321

[#1]

The following diagnostic is generating:

Ending inventory in the cost of goods section is different than the ending inventory on the balance sheet.

Solution:

This diagnostics will generate when amount(s) have been entered on Screen 24, Balance Sheet in, Inventories (if different from COGS) under the ending column. Amount(s) should only be entered in this field if the Balance sheet inventories are different then the COGS inventories.

Solution #1

If the balance sheet inventories are different then the COGS inventories and entries on Screen 24 are accurate (for Balance Sheet) check the box next to the diagnostic, this will strikethrough the diagnostic to identify that it has been reviewed.

Solution #2

If the balance sheet inventories should not be different then the COGS inventories: Go to Screen 24, Balance Sheet Remove the entries in, Inventories (if different from COGS) under Ending column. Critical, will not prevent e-file transmission.

[Karl]

S-Corp module, Screen 14? My workaround for that is to re-input beg & ending inventory in Screen 14 (as well as the balance sheet).  Then in "Purchases", I create a table with CTRL+E.  I line item: 1) COGS from my P&L, 2) Add: Ending inventory, 3) Subtract: Beginning Inventory.

[susanofa]

That makes sense, good idea!  I was basically doing the same thing, except not utilizing purchases to show the calculation of capitalized inventory.  I did not also enter in depreciation (screen 14 for partnerships) as I see no need.  Ending inventory and COGS agree, and my balance sheet is in balance.  Thank you for your advice!

Susan