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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Inventory Valuation In...
Microsoft Dynamics GP (Archived)

Inventory Valuation Incorrect - With negative amounts

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Posted on by Community Member Microsoft Employee

Hi, our company recently upgraded from GP 10.0 to GP 2015. Everything went smooth, we thought, until we tried to balance our Inventory Valuation report to our Inventory account.

  1. The bottom line of the inventory valuation (including discontinued items) is out from the inventory GL account by over $2,000! We are aware of a few different ways this can occur, but can't narrow it down to anything specific. We balanced March 31st after a small adjustment (we always have to adjust to balance), then did this upgrade 3 months later. We do not sell products, we issue them out to be used in the building. We have less than 1000 stock items, none of very high value. We are trying to figure out if we need to change our valuation method (we use FIFO Periodic) or if it's the price method (most items are % Markup-Standard Cost, but a handful of them are Currency Amount) or something completely unrelated?
  2. While trying to balance to the inventory GL account we noticed that we have many items with negative amounts on hand - our system does not allow this, and it looks as if some of the negative quantities began in 2012, which also isn't possible. We think the Units of Measure might have somehow been transferred incorrectly during the upgrade. Has anyone heard of this happening? The values of items negative quantities do not add up to the difference between the Inventory Valuation and Inventory GL account.
    • Is there a better report to use when balancing to the GL or is it our valuation or price method that makes it so that we never balance?

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  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Inventory Valuation Incorrect - With negative amounts

    Thanks Mick,

    We don't have access to the report or the reset tool, waiting to hear back from our vendor about getting access. There are a lot of helpful articles, etc. once we are able to use the HITB Reset, I'll post the outcome when we get that far.

    Serena

  • Mick Egan Profile Picture
    Mick Egan 3,557 on at
    RE: Inventory Valuation Incorrect - With negative amounts

    Serena,

    There were big improvements made to the Inventory Module around GP2010.

    I am assuming you're not using the Historical IV Trial Balance Report, which we have found is the correct report for reconciling.

    You would need to run a few tests in a Test Company before applying the HITB Reset Procedure to your production company.

    It took me a few runs before understanding the importance of the HITB Report.

    There may be reconciling decisions to be made after reviewing the results.

    You will find the information in the Forums and blogs to be most helpful on the HITB Reset.

    Please ensure you run plenty of test transactions after testing the reset to ensure the Inventory remains in balance.

    Mick

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