Hi, when we ran the conflict resolution report in AX 2012, noticed that Inventory less than GL and the following error:
"The setting of the Post physical inventory check box for the item model group FIFO in the Item model group form in Inventory management has been corrected after the posting of this transaction.
The setting of the Post packing slip in ledger check box in the Parameters form in Accounts receivable is not correct."
We are not posting inventory when SO is packing slip updated so post packing slip is not ticked in AR parameter.
Does the above means that the SO are not yet invoice updated and hence the inventory is not updated?
How to balance GL to Inventory at this point? Appreciate your thoughts
Does this mean that when SO is packing slip updated, ledger is not posted. However, inventory is deducted?
You would need to check which is really simple to do. Buy one on a new item, ship it - the stock will be zero, but your inventory asset is not reduced, so if you try to balance on hand to GL there is a natural difference. With this setup you can only reconcile when there is no shipped not invoiced position - why do you have one? If you need GSNI why are you not posting packing slip in ledger?
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Yes. it makes sense. So when I ticked the "exclude physical to ledger" from the conflict report, the discrepancy is zero. Our accounting team decided not to post the packing slip to the ledger until SO is invoice updated.
Now, To reconcile, we invoiced the SO so that they are posted to the GL. however, Do we need to invoice the PO as well in order to reconcile inventory to GL in general? Where can I print a report of GSNI from AX 2012?
Incidentally, we use one RAW account "25000" for both "Product Receipt" as well as "Purchase, Inventory Receipt" from PO posting perspective. So probably we could to use the voucher transactions to separate physical update vs financial update balance in GL!
From the Production Posting perspective, we use the RAW account "25000" for Production Issue, Production Picklist as well as Production RAF picklist,
for Production Receipt and SO Issue, we use FGI a/c 35000; Inventory Issue and Receipt both use same RAW account "25000"; Inventory Loss/Gain tracked in a separate a/c - 2900;
Inventory RAW a/c - 25000
Inventory FGI a/c - 35000
We have PO that are not yet invoiced and production orders that are in various stages for the given period that we want to reconcile. Appreciate your thoughts.
There are some invent adj made resulting in a negative balance in 2900; ( I think we need to include this balance to GL).
I have imbalance of Inventory to GL; I am comparing inventory value to the GL balance in a/c 25000 + 35000.
Does inventory adjustment Journals need to be taken into account to calculate the net GL inventory? In the Inventory profit and loss journals, we adjusted inventory where Inventory issue/receipt are posted to "25000" and inventory loss/gain is posted to 2900 which has a negative (loss) balance for the given period.
Ultimately your task is to reconcile your inventory asset accounts. These will be impacted when you move stock, assuming you post to the ledger at picking list stage of course, if you do not you have a much more difficult task as you will have physical inventory with a notional cost that is not posted anywhere in your ledger. Your profit and loss journals gain and loss are the offet to the asset accounts so you do not need to include them, they are already accounted for if posted.
This is ultimately the match up of how you have configured AX to move physically and the reflection of this in the accounts, the configured report has to, if it can, match your processing to balance back to the ledger, assuming you have never posted directly into the asset account of course.
You PO invoice depends again on your post delivery note in ledger. The answer is no depending upon your setup you do not need to. The accrued purchases is your GRNI, assuming you mean this rather than GSNI as you have now invoiced all sales orders so it will be blank.
Thank you for your feedback. Much appreciate it. Yes, we are posting to ledger accounts as stock moves such as Production picklists, Purchase Receipts etc., except for the SO packing slip (that we already invoiced them). So the combined GL balance of "25000" + "35000" from the inventory asset accounts can be compared with the inventory value report where it summarize physical/financial inventory value. However, inventory doesn't balance with GL - about 100k (more in ledger).
potential conflict report only showed the un-invoiced SO. Could we run a voucher trans to see inventory transactions that are not posted to the GL accounts (25000 & 35000) - I tried but couldn't identify
This is where you need to start digging into the transactions and analysising them. Obviously first step is to ensure every entry into 25000 and 35000 is system generated and no erroneous journal, or another posting setup has been configured to use them.
After this it is a case of analysing specific items and trying to see if what you have makes sense to you.