About Adjust Cost - Item Entries


I am now trying to do the stock revaluation. However I heard that the Adjust Cost - Item Entries need to be done first to keep all costs up to date. All the stocks’ cost is based on standard cost. If I run the Adjust Cost - Item Entries, no journal should be created, isn’t it?


I have done the Adjust Cost - Item Entries, and it looks all good.

However when I compared the inventory valuation report with balance sheet, the stock doesn’t reconcile. The balance sheet amount is less than the inventory valuation figure. Does anyone know why is that?


Look for non system generated transactions in your stock account. There are many many reasons for differences. I would suggest viewing by day, run teh report by day, find the day with the difference and investigate the transactions - there will be a manual journal, a cost altered journal or credit note or something in there - should be less reasons with standard costing, so a manual adjustment to the account is most likely.