Why does my parts inventory ledger not match the stock valuation report?

The Parts Valuation Report and the Parts Inventory Account take into consideration different factors.

The Parts Valuation Report looks at your "QOH x Current Average Price"

The Parts Inventory Account shows your "Current Parts Inventory Value"

There are 2 common reasons why these won't match:

1. Parts get sold into the negative. For example:
   Selling 1 part into a negative QOH at $5.00 will put a (-$5.00 Avg Cost) into the ledger & you will have -1 QOH, then when purchasing this part you buy 1 of them at $10.00. This will bring your QOH up to 0 & put $10.00 into the ledger. So now when you look at the Parts Valuation Report this part shows a value of $0 (0 QOH x AVG Price of $10.00) and the Ledger will show $5.00.
   
   
2. There can be journals into the Parts Inventory account. This will put either a positive or negative into the ledger but not show anything on the Parts Valuation report.

As these two calculate their values in different ways they won't match. If you'd like to bring your parts inventory in line with the valuation report then you can post a journal to adjust its figure. 

Before you do this, consider when the last time you did a stocktake was, as you want to ensure the Parts Valuation Report is as accurate as possible before adjusting your inventory