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how to do the inventory reconciliation with the trial balance

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Posted on by subashini

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Hi Experts,

How to do the inventory reconciliation with the trial balance.

Coulld anyone please suggest me.

thanks in advance

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Shaheryar 275 on at

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Hi,

You have to print the inventory value report for your on-hand inventory items and then cross check the balances against the total sum of your inventory ledger accounts balances. But be sure that you have setup the report parameters right before printing the report as there is a setup for parameters to calculate the inventory value report. Also you can check for potentials conflicts between inventory and general ledger through a report in inventory management to identify any potential conflicts between inventory and general ledger.

You can setup the inventory value report through Inventory management > Setup > Costing > Inventory Value report

You can access the inventory value report through Inventory management > Reports > Status > Inventory Value report

You can access the potential conflicts report through Inventory management > Reports > Status > Potential conflicts - Inventory and general ledger

You can identify the inventory ledger accounts through the posting profile setup of inventory management module. Be sure to include the interim accounts for physical transactions as well when you are making the comparison

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Ludwig Reinhard Microsoft Employee on at

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Hi subashini,

Simply use the inventory reconciliation report.

That's all.

You don't need the trial balance because the account balances can be included in the inventory value report, which allows you a one stop reconciliation between inventory and GL.

Best regards,

Ludwig

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subashini 858 on at

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Thank you ludwig.

I would check that and get back to you

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