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Trial balance inventory accounts not at $0 after removing inventory

  • 11 October 2022
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I’m working on converting our costing method and testing the results in a test system, but I’m running into interesting results. So I’m looking for some recommendations on what we should do or what could be causing these issues?

  1. I have issued out 100% of our inventory so that our inventory balance and valuation are 0 on both reports. But our trial balance is showing values in multiple inventory accounts.
  1. I have closed/cancelled out all production orders that were in a  “In Process” status. I would expect this to bring all WIP accounts to $0, but again multiple accounts are showing values in there.

 

Since I believe all of these accounts should be at $0 now should I clean these up and bring them down to $0 or am I missing something? I can’t tell exactly when these accounts stopped matching and I’m wondering if they were never tied out correctly from our go live.

 

 

Thanks for any help.

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Best answer by Laura02 11 October 2022, 11:46

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Laura02
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Hello,

I see you are working in a test system; this means you can test the entries to bring GL into balance with IN subsidiary module, as well as testing your process to change valuation method. You’ll be able to discuss the test results with your accountants and CPA before performing in Live Production environment, to make sure you achieve the desired results.

I think the change of valuation method is a good opportunity for cleaning up the GL too - it is desirable to see GL inventory balances that match the Inventory Valuation/Balance reports going forward.

It is possible the difference came forward from a prior system, if you see a difference when the same reports are compared for the very first month of Acumatica operations. When we migrate balances from a prior system, I match the reports by module:  GL to GL, AP to AP, IN to IN, etc.  If the prior system’s GL did not match the subsidiary ledger,  Acumatica GL will also be out of balance to the subsidiary module, possibly, on Go Live day.  Differences are identified and recommended to the customer, such as to bring AP Aging total in balance with the GL, after the match between systems is verified.

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~

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