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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

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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

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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

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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

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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

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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!

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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