Inventory GL and Valuation

The company I work for started implementing NAV before I got there so they were living in two systems. Selling out of the old and receiving in the new system. This has caused total chaos! The controller has made GL entries to our inventory.

So we want to start over. We have 10 locations, but we would like to do them one by one. We can do the physical without any problems. What I’m seeing is I can’t seem to get the system back to 0. I did a complete phys. Inventory Journal for that location, and ran everything to 0. So it says I don’t have anything. Good. Then I do the inventory valuation for that location. I’m finding about 14K of misc. stuff. Like the quantity on hand says 0 on the item card, but the report says I have 20. Any ideas?

The other issue I think is we have some inventory that has been received not invoiced. How will this work?

What is the best way to get a handle on what inventory I have and be able to run the main inventory reports to make sure everything is flowing the way it should? I would think running everything to 0(GL included) and then adding the inventory back in would get the numbers in sync. But it doesn’t seem like I can even get it to 0. Thank you for your help.

The one issue with the inventory valuation was caused by some of the people posting at the end of the year at the beginning of the year. They were trying to post AP invoices in 12/2010 and posted them in 12/2011. When I run that with an as of date of 12/31/2011 it comes out to almost zero.

Have you run Adjust Cost?

Yes! Right now this is what the bottom of my Inventory to G/L Reconciliation looks like

Inventory Valuation: $-1.85

Received Not Invoiced: $1,355,315.74

Shipped Not Invoiced: $-3,674,542.12

Total Expected Cost: $-2,319,226.38

Rec. Not Inv. Posted to G/L: $1,355,315.74

Shp. Not Inv. Posted to G/L: $-3,674,542.12

Expected Cost Posted to G/L: $-2,319,226.38

Expected Cost to be Posted: 0

Invoiced Value: $2,319,224.53

Inv. Value Posted to G/L: $2,319,224.53

Inv. Value to be Posted: 0

Can you see why I’m confused? :slight_smile:


Have you calc adjustment from an Item Journal?

For each location?

from your post, do you want to clear your GRNI?

Are they going to be entered again in your new system?

I don’t know if I want to clear that or not. I guess it would take me going through all of it to see what I have received but hasn’t been invoiced yet. What is the best way of doing that? Just go through the PO’s with qtys to invoice? If I run the inventory to zero for that location will I still be able to correct these problems? The plan is I want to run the inventory to zero, and then count everything we have. I’m afraid I still have “issues” with the GL rec report and won’t be able to use it like I should. When you say “Have you calc adjustment from an Item Journal” do you mean did I use item journal or physical inventory journal? I used physical inventory journal.

I figured this out! When I did the physical inventory journal, I had a report that set the quantity to 0 and set the division and departments. It also set the Unit Amount. But it didn’t set the Amount column and so that caused the problem. I did this is my test database so I think I’m ok for the most part. I do have some that I need to figure out how to fix in the live system. Let the fun begin! :slight_smile: