Hi Everyone,
We are comparing data from the Account Details and the Historical Inventory Valuation Report for specific accounts, but the figures never match. In this case, the Historical Inventory Valuation Report showed a zero ending balance for the account, while the Account Details reflected a balance of 47,069.30 for the same period. Does anyone know the cause of this discrepancy and how to resolve it?
Best answer by lorach
Hi
I took in account all that you have mentioned but couldn’t find the cause but I have noticed it’s transactions that involve 2-step transfers that are not reflecting in the Historical Valuation report and the account being reconciled in used in container tracking which involved some customizations, I think I will have look into coming up with a different report to be used to reconcile the specific account. Thanks Laura, I appreciate your help 🤗
+19Hello,
I understand you are reconciling the Inventory Valuation to GL by Account Number.
When there is a difference, entries made from Non-Distribution modules need to be eliminated from the GL Account Details screen. What Filter is applied to the Module column in your Account Details screen? Look for entries directly from GL or from other modules that should not be updating inventory directly:
Compare the totals from prior periods to look for 1) when did the Valuation last match the GL Account, and 2) do you see a pattern? For example, has the Inventory been off by the same amount for several periods? This comparison will help determine in what period did the posting mistakes occur.
In the Chart of Accounts, are all Inventory Accounts identified as Control Accounts? Identifying Inventory accounts as Control accounts with Manual Entry not permitted will prohibit posting from the wrong modules and will help keep your Valuation in balance to the GL by Account, once you’ve adjusted the accounts into balance with the Valuation:
Laura
Hi
I took in account all that you have mentioned but couldn’t find the cause but I have noticed it’s transactions that involve 2-step transfers that are not reflecting in the Historical Valuation report and the account being reconciled in used in container tracking which involved some customizations, I think I will have look into coming up with a different report to be used to reconcile the specific account. Thanks Laura, I appreciate your help 🤗
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