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Microsoft Dynamics GP (Archived)

Inventory Stock Value not matching with GL Stock Balance

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Posted on by Community Member Microsoft Employee

Whenever I post a purchase transaction (Thru receiving transaction entry ) and come and see the stock SL closing balance and the GL stock closing balance, there is a difference. This difference is not consistent and it ranges from 40 USD to 50 Cents. We tried with the solution of using the Historical Inventory Trial Balance report (HITB) which comes with service pack, but still we find the difference. Sometimes this cost gets adjusted when i do a sales transaction. FYI, we are using Average Perpetual costing method for all the items.

 

Is there any permanent solution avaialble in GP which will always match the Stock Closing balance with GL Closing balance.

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  • Vijayakumar Kenchugundu Profile Picture
    Vijayakumar Kenchug... 1,075 on at
    Re: Inventory Stock Value not matching with GL Stock Balance

    Hi,

    Are you able to match your IV and GL? Because I am also facing similar issue. I would like to know after resetting balances, is there any way to match IV and GL for an historical date.

    Regards,

    Vijay

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    Re: Re: Inventory Stock Value not matching with GL Stock Balance

    Hi Thanks for the reply. I am not posting the shipment & invoice seperately. I am using the receive & invoice options and adding the landed cost in the receiving transactions window. So all procedures are done in a single strock. But still after posting, the closing balance for the stock and the GL balance differs.

     I sent a query to Microsoft and they had mentioned that it had been corrected in SP3 version and also using HITB tool. we had installed SP3 version, but still we get the difference. Sucks. Inventory valuation cannot be so weak in GP.

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    Re: Inventory Stock Value not matching with GL Stock Balance

    Hi Friend: When you receive an item into inventory without an accompanying invoice, the receipt is valued at the price quoted on the PO. The transaction Debits the Inventory, and Credits the Accrued Payables account. Later when the invoice arrives and it is matched to the shipment recorded earlier, it may have a different cost, due to the addition of the taxes, freight, misc costs etc.

    The Accrual is then Debited for the original  amount to revrese it, and the payables account is credited for the larger amount on the actual invoice, with the difference being charged to the PPV(Purchase Price Variance or to the GL Inventory account, depending on your setup. But the difference is not posted to the item stock account. Hence the difference between your stock value, and the GL inventory control account. To remedy this difference, you need to trigger aposting to the Stock, using an adjusting entry.

    I hope this helps.

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