Comparison btw inventory valuation amount and Gl accounts

Hi all!

I run these reports: Inventory valuation → 854000$ and Inventory to Gl reconcile —> Inventory valuation = 854000$

But Raw material GL account 10100 —> -35000$ !!! Afetr running all routines : Adjust cost item entries and Post Inv to GL

How to begin to solve that problem?? And how to make sure that when running routines dates used are correct ?? Which date should be there each date and at the end of the month for financial statements. I have ben try to reconcile the inventory with GL account but NOT ABLE to do so.

Thanks for the help.

If you run these reports as of today, are you able to reconcile? If so, then the problem is with the timing of when you run your adjust cost process.

As Alex says, remove all dates and if the balance is the same on both it is a timing issue on how you are running the report and views.

If however they still do not balance it means you have manual entries in your inventory asset account, you will need to find these and account for the entry of them.

Hi both of you,

I did run Inventory valuation reports and Inventory to gl reconcile report, both are balanced. ( the inventory valuation amount is the same on both reports) but when I check the related Inventory GL , I see different figures.

I know that sometimes, the routine " Post Invetontory to Gl " was not running as it should be also " Adjust cost item entries ".

However I did run all reports and check also the GL itself , there were no many manual entries done in that Inventory account ( 20 entries max in 3 years for a max of 40000$) , So any other clue?

Thanks

If you run the inventory valuation with a starting date prior to you started the system and an end date 10 years in the future, then this will balance to the inventory asset account (or accounts total) in the GL. If it does not then there are manual entries. Prior to doing this you need to stop all transactions and ensure the adjust cost item entries routine is run.

It is extremely difficult to advise on a forum like this. I have done lots of reconciliations of this nature, but I am afraid you need to get into the detail and start investigating any differences you see. So it will balance with no real dates set, then you start moving the end date backwards on the valuation report and on the GL and start to track where the changes begin, then investigate these where you can. This sort of work has no real quick answer, you need to get into the data and look at it.