2004 Inventory Valuation

Hi, We received into inventory with a purchase receipt as of 2004 some items that should have been received in 2005. They of course show up on the 2004 Inventory Valuation report. We then did a purchase credit memo to take the items out but it was done as of 1/4/05. Finally we received the items back in again with a purchase receipt on 1/5/05. The problem is the items are still showing up on the 12/31/04 Inventory Valuation report. I tried doing a negative adjustment on one item as of 12/31/04 on 1/5/05 but again that item still shows up on the 12/31/04 report. Is there any way I can get them off the 2004 report? Dan

Just when you thought you had your inventory straightened out. [:D] For my example I purchased 5 of Item I1. There might be a couple of options here: 1) Post a Positive Item Journal on 1/1/5 with the cost from the original Purchase Order. Then Post a Negative Item Journal for the 2004 date applying it to the Positive from above. This is something that can be done through the user interface, but I would guess you would have 2 entries on your inventory valuation which net out to 0. 2) Change the Posting Dates for the Purchase Credit Memo (Done by NSC with developers license). I would not recommend this unless you have an NSC who knows exactly what they are doing. There is always a chance for problems when you do this. I would recommend (1) as you can do it without changing posted data. The report will be correct in the total, but there will just be extra lines showing.

Hi Chris, Thanks for your response. I appreciate it. I tried your suggestion on our test system using the Item Journal and could not get it to work. The test item was still showing up on the Inventory Valuatin as of 12/31/04. I am an accountant and not an IT person and am not sure what you are referring to as the interface. If that is different than the regular usage of the Item Journal, must this transaction be done on the interface to work? Also we using Navision 3.10B. Thanks. You’ve been a big help. Dan

By interface, I meant through the Journal and not using any programming. I will have to check if this does what I expect when I get some time.

I tried my suggestion…It only worked if you did the negative first, ran the report and then posted the positive…This is harder than it seems as you would need to make sure the negative remained open and then the report would be different once you added the positive entries. Oh well. [Oops!] My next suggestion would be to have your NSC modify the records so that the Posting and/or Application dates are correct to make your inventory valuation work. Note for the future, if you use the copy docuemnt on your Credit Memo (or fill in the Applied to Doc. Type/No.), the system seems to Post your Credit Memo back to the date of the Original Invoice.