Missing Account Number on Inventory Adjustment

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Posted on by amb2000

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We have an issue where an Inventory Adjustment Transaction Entry has a missing Account Number on one of the line items. I have seen one post while researching this that mentioned that the Item Number from the source transaction needs to have a Variance Account Number filled in. If it's missing, then this could occur.

However, this is not the case, the Variance Account Number is filled in.

Below is a screen shot of what I am referring to. Note the 3rd line on the transaction:

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Redbeard 12,931 on at

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Aaron,

Goto Tools > Setup > Posting > Posting Accounts. Change the series to Inventory and look for transaction sources which don't have an account assigned. All sources should have a default account. You can also check Reason Code Setups in inventory.

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Lyn Barr 1 on at

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Are you using landed costs, and are the PPV account(s) filled in for your Landed Cost IDs?

Open the Landed Cost Maintenance window by going to Cards>>Inventory>>Landed Cost.

If not, that might be why this happened.

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amb2000 1,385 on at

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I did as you suggested and found that Standard Cost Revaluation does not have an account. However, we do not use Standard Cost. We use Current Cost. Does this still need to be filled in regardless?

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Redbeard 12,931 on at

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Aaron,

Even when you don't use Standard Costing, Items not assigned a Periodic Inventory Valuation Method can be configured to behave like Standard Cost items, by checking the Revalue Inventory on Cost Variance check box on the Item Purchasing Options Maintenance window. Given this set of circumstances it is a good idea to set up an account and identify it in setup, to ensure you don't get errant unassigned transactions.

That being said I would not expect the Standard Cost Revaluation account to be hit on an Inventory adjustment.

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Community Member on at

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Please explain this >>Items not assigned a Periodic Inventory Valuation Method can be configured to behave like Standard Cost items, by checking the Revalue Inventory on Cost Variance check box on the Item Purchasing Options Maintenance window.<<

What does revaluing inventory have to do with standard cost items?

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Redbeard 12,931 on at

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Here is a link to a blog post on this issue.

redbeardblogging.blogspot.com/.../dynamics-gp-purchase-price-variance.html

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amb2000 1,385 on at

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All - I just wanted to update everyone who has posted replied that we have resolved this. The issue was the "Rounding Difference Account" (circled below) on the Costing Preference Defaults screen was missing. This is found under GP/Tools/Setup/Manufacturing/System Defaults/Costing. Once we added in the GL Account, we noticed the next day that this account was picking up the differences.

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Kelly Top 2 on at

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Thanks Aaron for the post - your resolution resolved the issue I was having too.

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L Vail 65,271 on at

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Is the 33 cents a rounding from Multi-currency? Where is that coming from? Do you have the Financial Series company default posting accounts set up? I'm betting that your problem may be a lack of account assignment relating to multicurrency.

Kind regards,

Leslie

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