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Correcting posting date in physical inventory ledger

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Posted on by mbharodia

Inventory manager made a mistake and used a different posting date while posting physical inventory journal. What is the best way to correct the issue?

Thanks for your help!

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MahGah 15,529 on at

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RE: Correcting posting date in physical inventory ledger

Hi

I hope some other experts can provide a better solution. The only way that I know is to create another journal with opposite transaction for each part and then make sure to apply to/from the wrong transaction. Then post this journal on the same date that wrong journal has been posted. Then create a new journal and post on correct date.

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Dallefeld 211 User Group Leader on at

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RE: Correcting posting date in physical inventory ledger

Answering your question with a question....why do you need to change?

Do you need the accounting adjustments in another period? I would suggest a recurring reversing journal entry to handle the accounting and running your inventory reports with notes about the date issue for audit purposed.

Otherwise, you are looking at the process that MahGah explains.

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mbharodia on at

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RE: Correcting posting date in physical inventory ledger

@MahGah

Thanks for the suggestions. I thought in the same directions, but it involves duplicate efforts. Is there any way to fill a new journal from the phy. inv. ledger to create reversing entries and post them? I have access to phy. inv. ledger and I can see all the entries posted.

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MahGah 15,529 on at

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RE: Correcting posting date in physical inventory ledger

Hi

Yes, this is what I do

I filter Item Ledger Entry for that document transaction. Then take to excel.

Then create Item Ledger (Physical Journal). Then use Edit in Excel. Then populate info (QTY/Item/Apply to/from) from the file I downloaded then publish.

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