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Our GRNI account includes Goods Received Not Invoiced, and Goods Shipped Not Invoiced. We are confident that all sales invoices have been Posted, and all Purchase Invoices have been Posted, but the account balance is increasing every month. How can I investigate this to see which balances have not been reconciled? I want to see the balance being reduced to zero at the end of each month.
Hi Asker,
Assuming you have 'Expected Cost Posting (to GL)' = TRUE in Inventory Setup, typically you would have an Inventory (Interim) account assigned within Inventory Posting Setup to manage Received not invoiced and shipped not invoiced inventory. I take it that is what you are referring to.
Reconciling this account to 0 each month, I'm not so sure about.
In a simple example to break it down, what if you Receive a Purchase Order in February, in which Inventory Interim is debited, and then post Sales Shipment in March. Now you have a + balance in the account for Feb, and a - balance in March.
If I continue on and now in the month of March, I post the Invoice for both the Purchase and the Shipment, I will still have a balance in the account for each month. Purchase Interim will stay the same. It will get backed out in the Month of March. The Inv. Interim account from the Sales Shipment posted in March will be backed out in march also, but again you would have a balance from the invoicing backout of the Purchase in the month of march.
There are can be other examples also, but I just wanted to provide a simple one, as again I'm not so sure about the balance at the end of each month should be 0.
Other than that, you if you want to also look at the General Posting Setup. Be sure there are no other accounts that are setup the same as your GRNI Account. Specifically take a look at the following accounts:
COGS (Interim)
Inventory Adjustment Account
Direct Cost Applied Account
Invt. Accrual Acc (Interim)
(NOTE - You may need to show columns as these may not all be shown).
Thank you Asker and take care :)
Bryan Tschosik
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