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What is the difference between value and cost posted to G/L value in inventory valuation report?
Hi Steve,
I happened to search for a similar question about inventory valuation, and read this discussion thread. My question is: posted purchase receipt had $amount value for an inventory item, but in the "Inventory to G/l Reconciliation", "Received Not Invoiced" was $0. What could break the data flow from posted purchase receipt or GL "received not invoiced" to "Inventory to G/L Reconciliation" ?
Thanks,
Ginger
Nirmala,
Adding to what NorthW replied... May I suggest running the Inventory to G/L Reconcile report. This is an easier report to show you the Starting Valuation (beginning of period), Received Not Invoice, Shipped Not Invoiced, Expected Cost entries, Crossfoot Total and compared to what has posted to the G/L. I have always taught my customer User to use this report. The report also denotes if Adjust Cost needs to be run for a specific item having entries NOT posted to the G/L.
Thanks,
Steve
To calculate the inventory value in the Inventory Valuation report, the report begins by calculating the value of the item’s inventory at a given starting date. It then adds the value of inventory increases and subtracts the value of inventory decreases up to a given ending date. The end result is the inventory value on the ending date. The report calculates these values by summing the values in the Cost Amount (Actual) field in the value entries, using the posting dates as filters.
The printed report always shows actual amounts, that is, the cost of entries that have been posted as invoiced. The report will also print the expected cost of entries that have posted as received or shipped, if you select the Include Expected Cost field on the Options FastTab
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