Question Status

Verified
BABU BASKARAN asked a question on 1 Nov 2013 10:08 AM

Hello There I am trying to reconcile my Inventory balance with GL and each time I am getting big and small difference.  The table I am using IV10200 in order to get transaction wise inventory balance and we are using FIFO Perpetual Valuation method.  I am not sure where I am going wrong.  Thanks in advance :-)

Best Regards,

Babu Baskaran

Financial Systems Manager

Please mark this as verified if it answers your question. Verifying the answer will help others who experience this same issue.

 

Reply
Verified Answer
Mahmoud M. AlSaadi responded on 1 Nov 2013 10:58 AM

Babu

I would have a lot to say about this issue. To get a clean inventory with no corruption, several steps are required to match inventory internally and externally. Although, I will include the way to match inventory versus General Ledger specifically regardless of all associated factors.

  • In GP 2013, the reconcile utility matches inventory versus GL on an inventory account level. Otherwise, the following script on GP Essentials Blog - Inventory versus General Ledger  Shall do the job and retrieve all potentially match and unmatched journal entries per inventory account number.

Best Regards,

Mahmoud M. AlSaadi

Dynamics GP Essentials |   mahmoudsaadi.blogspot.com

Reply
thetrev68 responded on 1 Nov 2013 1:54 PM

Babu, you didn't say what version of GP you are using.  We use the HITB report which pulls data from the SEE30303 table in GP2010.  -Trevor

Reply
Mariano Gomez responded on 1 Nov 2013 2:20 PM

You can take the hard way or the easy way. The best reconciliation tool in the market is The Close by Reporting Central.

reporting-central.com/the-closer

Best regards,

MG.-
Mariano Gomez, MIS, MVP, MCP, PMP
IntellPartners, LLC
Blog: http://dynamicsgpblogster.blogspot.com

Reply
BABU BASKARAN responded on 2 Nov 2013 6:33 AM

Hi Mahmoud, that's great we use GP 10 version so I will try the script and let you know.  I tried HITB but it didnt help much.  I Marino i will look into the reporting central and check the same.  Thanks to all of you.

Best Regards,

Babu Baskaran

Financial Systems Manager

Please mark this as verified if it answers your question. Verifying the answer will help others who experience this same issue.

 

Reply
Suggested Answer
Richard L. Whaley responded on 2 Nov 2013 9:41 AM

There is one major issue with average and/or any of the Perpetual methods, selling below zero.  If you have a sale waiting and the shelf is empty, the product arrives and is shipped and invoiced before it is received, your inventory will go negative.  As it does, GL is credited for the last known cost of the items from the item master.  The PO receipt will then set a new cost entirely and debit GL at the new cost.

Richard L. Whaley Author, Publisher, Consultant

http://www.AccoladePublications.com

Enhancing your Dynamics Knowledge!

Reply
Agaray responded on 17 Mar 2015 12:18 PM

Mahomoud,

I tried the SQL view to compare the IV to GL and I think I don't know how to read it. I was expecting to see the comparison between IV transaction and GL entries. I see all the JE# and other info for all transactions that affected the IV account but I don't see the IV side.


How can I add to that swl view of yours the IV transaction header info (Type, document number, date, site, etc.)? I appreciate your reply.

Reply
Mahmoud M. AlSaadi responded on 18 Mar 2015 4:00 AM

The comparison should be made on a journal entry bases, that's the link between the GL and IV.

You can take the un-matched  journals and look for inventory-associated details such as location, document type, document number ...etc from the SEE30303 table (inventory table)

Your feedback is highly appreciated,

Best Regards,

Mahmoud M. AlSaadi

Dynamics GP Essentials |   mahmoudsaadi.blogspot.com

Reply
AndreaIES responded on 20 Mar 2015 10:17 AM

Based on this screenshot below. What are the unmatched Journal entries? Is it not matching for any? If is all GL information, how can I look for the IV items associated? I consider this greatly helpful but I need to understand how to get the differences.

Reply
Mahmoud M. AlSaadi responded on 20 Mar 2015 10:59 AM

The journals on the left side of the screen shot (35361704, 35201542 ...etc) exist in GL with no source documents in the inventory module. To track them down, you can either check them manually from (Inquiry > Financial > Journal Entry inquiry)

Or you can check them in the GL20000 (Open Year Journals).

On the other hand, you have two records in the inventory module with no associated journals on the GL level, you may check the document details such as document number, type, item, cost, location ..etc by running the script below:

SELECT * FROM SEE30303 WHERE JRNENTRY = 0 and IVIVINDX = 1618


Your feedback is highly appreciated,

Best Regards,

Mahmoud M. AlSaadi

Dynamics GP Essentials |   mahmoudsaadi.blogspot.com

Reply
Verified Answer
Mahmoud M. AlSaadi responded on 1 Nov 2013 10:58 AM

Babu

I would have a lot to say about this issue. To get a clean inventory with no corruption, several steps are required to match inventory internally and externally. Although, I will include the way to match inventory versus General Ledger specifically regardless of all associated factors.

  • In GP 2013, the reconcile utility matches inventory versus GL on an inventory account level. Otherwise, the following script on GP Essentials Blog - Inventory versus General Ledger  Shall do the job and retrieve all potentially match and unmatched journal entries per inventory account number.

Best Regards,

Mahmoud M. AlSaadi

Dynamics GP Essentials |   mahmoudsaadi.blogspot.com

Reply
Suggested Answer
Richard L. Whaley responded on 2 Nov 2013 9:41 AM

There is one major issue with average and/or any of the Perpetual methods, selling below zero.  If you have a sale waiting and the shelf is empty, the product arrives and is shipped and invoiced before it is received, your inventory will go negative.  As it does, GL is credited for the last known cost of the items from the item master.  The PO receipt will then set a new cost entirely and debit GL at the new cost.

Richard L. Whaley Author, Publisher, Consultant

http://www.AccoladePublications.com

Enhancing your Dynamics Knowledge!

Reply