ITEM GROUP VS. LEDGER ACCOUNT

Hi everyone,

I want to ask something, i really dont know how to explain it the right way, but here it goes,

I have created a report which would sum -up the on hand qty and amount of an item base on its transaction in a certain range of time. ex. from January 1, 2012 - January 31, 2012

ITEMGROUP: GROUP1

ITEMID OPENING QTY OPENING AMOUNT ENDING QTY ENDING AMOUNT

TOTAL TOTAL TOTAL TOTAL

With this report, they want to tally the result on the amount of the Ledger Account corresponds to the ITEM Group (Group1). ex: 1011101109 - Raw materials

Our Accounting/Finance found that the report do not tally to the ledger’s amount with the same range of time. But when i check each item on my report, it gives exactly the total On Hand amount and qty of the item base on its transaction.

Actually i dont know how to properly investigate this scenario since i dont really know how they do some adjustments on the items transations on the GJ. Is there anyway that i can match my report to the ledger account’s report?

Is the ledger account locked?

Hi heylin, its not locked, they just want to match the total amount of the item Group to its posting account (ledger) does it really match? i mean is it reasonable to match the amount of item group to its ledger, though i’ve learned that the accounting is doing some adjustments on the items transactions…

Well if it is not locked, accounting might have used a general journal to post transactions using that account. In this case, it would’t really tally with your report. Try to check transactions in the ledger account and see if there are posted transactions using general journal.

hi Heylin,

yeah actually there is a General Journal Transaction on the Ledger Transations, which they said it’s the adjustment on the items transactions, However, i am not able to pinpoint or thoroughly discuss to them on how it wouldn’t really tally, base on my investigation on the scenario, some Movement Journal number have different posted amount on the ledger compare to the actual transaction of the item. I dont know how they made adjustments on the each item.

I hope you could explain to me further how the movement transations been treated in the ledger which corresponds to the itemgroup…

Thanks in advance.