Dynamics GP | Inventory Reconciliation Process

Inventory reconciliation is the process of comparing your company’s physical inventory to its recorded inventory in the accounting system. It helps your business to ensure the accuracy of your inventory data and identify discrepancies that may indicate theft, shrinkage, or other operational issues.

The inventory reconciliation routine checks the tables and transactions to ensure that the totals, quantities, and transactions are correct. It is a tool that should be run regularly to ensure that there are no issues with inventory which relate to sales and purchases. The reconciliation can run for every item or a specific item that is no longer totaling correctly.

Please see the below key steps on how to reconcile inventory.

1. Have System Admin/ IT team take a backup of any database that will be reconciled
2. Have all users log out of the system besides the user running the reconcile
3. Navigate to the Inventory Reconcile (Tools -> Utilities -> Inventory -> Reconcile)
   
4. You can select to run for all items or a range of items
5. Select Process
   • Note: If reconciling all items, this can take multiple hours depending on how many items there are in the system.

6. A report will be available to print with a detailed list of all of the changes

For more information on this process or how to maximize your Dynamics GP investment, please reach out to us at Support@BondConsultingServices.com or Click Here for a Free Consultation with one of our Microsoft certified experts.