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Tying Trial Balance GL.63.20.00 to Inventory Transactions

  • 15 January 2024
  • 2 replies
  • 71 views
J

I’m working with a partner, and were attempting to reconcile many months of inventory history to the Trial Balance Summary. We’re attempting to build generic inquiries to do this using the INTran and INTranSplit tables, extracting rows, grouping by our materials / lots / warehouses / locations to find that last transaction and filtering by Financial Period.  

Our comparison results are sometimes close, but never tying out. 

The back story is that a number of inventory receipts and adjustment were done during various go-lives and onboarding events, and now the Finance department is concerned about being able to audit the the history, essentiallly using details to prove out the Trial Balance Summary report.

Has anyone out there encountered this circumstance? Perhaps someone might shed some light on how the Trial Balance Report (especially Inventory Accounts) is calculated and relates to the transaction history?  

Many thanks!

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Best answer by Laura02 15 January 2024, 18:54

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Jonathan Kohler

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Laura02
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Hello,

I recommend reconciling inventory by comparing the Historical Inventory Valuation or Historical Inventory Balance report to the GL Trial Balance report by month from Go Live month forward.

When Inventory is migrated from a prior system, it’s common to import GL transaction history - including lump-sum inventory balances month by month -  to the Inventory Asset Accounts, then separately import On Hand Balances via Inventory using Inventory Migration Mode (No posting to GL).

  1. If the prior system’s GL Inventory Asset account did not tie to quantity/cost on hand at the time of migration, then Acumatica’s GL won’t tie to Inventory Valuation or Inventory Balance at the time of migration.
  2. It will be impossible to compare IN transactions to GL Transactions because GL transactions present as one lump sum change per month.
  3. Use Finance → Account Detail screen to find out whether any Transactions have been incorrectly entered to the Inventory Asset control accounts from other modules such as GL since Go Live. Filter the Module, where not equal IN/PO.

Here is another related post to help you.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
bryanb39
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Badge +5

Also be sure to recalculate inventory, sometimes you know it's right yet it's still not quite matching. Sometimes you aren't crazy.   Search for recalculate and try running that process.  

If that is not the issue and it's just off due to Journal Entries as @Laura02 mentioned, you can post adjustments with a reason code that hits the same GL, so there's no impact to the Ledger, but the inventory balances or sub-ledgers will then be adjusted and tie out.  This is essentially the same as posting a receipt in Migration mode where nothing is posted to the ledger.  

Just be sure to run recalculate first before posting adjustments you can't fully explain.

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