Inventory Aging Report and Trial Balance Accounts are not matching from day first

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Posted on by Shabir Ahmad

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Hi Experts,

I have Inventory aging and Trial Balance Difference issue. Now i found that this issue is coming from the first month of this
Account creation "FEB 2017". If the company assign this task to me to fix this is it possible to fix if possible then how long time it will take.Further, what process i will do ?
Please advice!.

Shabir Ahmad

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Gaurangkumar Jani 4,534 User Group Leader on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

HI Shabir Ahmad

Reconciliation between inventory and Trial Balance value is huge work. I have done countless times.

My approach was simple, to start with one moth with "Inventory Value Report" (and not "Aging Report") and compare with TB value for the same month. Identify the possible issues and keep note for that issues for next periods.

Common issues I have found is :

1. Service / Non Stock Items posted in Inventory Account (which can not be available in Inventory Value / Aging report)

2. Manual entries posted in Inventory Accounts.

3. Change happened in posting profile after posted certain transactions in inventory.

4. Inventory transaction posted in non inventory account.

Please let us know if this helps.

Thanks,

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Shabir Ahmad 3,110 on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi GaurangKumar Jani,

Thanks for your valuable reply, it seems the suggestions you gave me matching to my requirement. Could you please check the above 2 Item model groups and its parameters. These are only 2 Item model groups and all the items are associated with it.Hope so on the basis of these images you will reach to my requirement and issue.

Best Regards,

Shabir Ahmad

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Shabir Ahmad 3,110 on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi ,

Please check the above image and difference.

Only 4 months difference from Jan to April

Total of 3 Trial Accounts is 11,409,232.87
Inventory Aging Report Values is 11,356,742.66

Total Difference 52,490.21

Best regards,

Shabir Ahmad

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saurabh bharti 15,039 Moderator on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi Shabir,

As mentioned above , I think you should use Inventory value report and start with Month wise extract at transaction level.

Once you know Month where issue is you can compare Inventory value report transactions summarized by (Voucher) and GL voucher transactions , compare both and see which voucher has difference. Thats will help you to make correction.

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Shabir Ahmad 3,110 on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi ,

But the Inventory Value Report and Trial Balance Values are matching It is "ok" ,only "Inventory Aging" VS Trial Balance Difference.

Best Regards,

Shabir Ahmad

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Shabir Ahmad 3,110 on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi ,

I don't see any column "voucher" or something else, on the basis of that i could track records from vourcher transaction "GL" Side. Cloud you please check the above columns.Which columns are missing and how to add if needed?

Best regards,

Shabir Ahmad

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Gaurangkumar Jani 4,534 User Group Leader on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi Shabir Ahmad

To get the voucher, you need to run a transaction level report and not balance.

And Aging report provides the value as on today for the material quantity as on date of report, so it also includes financial values posted (adjustment) after report period.

Please let us know if this helps.

Thanks,

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Shabir Ahmad 3,110 on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi CA Gaurangkumar Jani,

Which Transaction Report should i run to get vouchers and the same i do with inventory aging or Inventory Value Report to match these voucher and find out the Transactions which are not updating the inventory side.

One thing i want to clear "Inventory Value and Trial balance values are matching" it is Inventory aging not matching with trial balance".

Best Regards,

Shabir Ahmad

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Gaurangkumar Jani 4,534 User Group Leader on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi Shabir Ahmad

You need to update your Report ID with detail as "Transaction" and run it.

Regarding Aging report, try if your value column match with Value report and TB, unless you are trying to reconcile as on date, aging report can not match with previous / old month's TB.

Please let us know if this helps.

Thanks,

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saurabh bharti 15,039 Moderator on at

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RE: Inventory Aging Report and Trial Balance Accounts are not matching from day first

Hi Shabir,

If inventory value report and TB are matching that means problem is in aging report and it is the reconciliation issue between TB and inventory.

Now you should compare Qty and Value between Inventory value report and aging report and find out which Product+site+warehouse combination and in which month it has the difference.

It is possible that aging report is not considering some transactions e.g. couniting or adjustment

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