INVENTORY VALUATION AND GL ACCOUNT DIFFERENCE

SUGGESTED

My inventory valuation report is pulling around $9 million dollars and my GL account inventory is pulling around $ 1 million. anyone know how i can fix this or see what the difference is ? 

Thank you, 

  • 0

    First thing to check is half-posted transactions.  Print / update the DTR from the GL module.

    Then look for any postings to the inventory control account from unusual places (any GL journal entries, /M SO invoice lines, AP invoice lines...).

    Also check for different inventory control accounts listed in Product Line Maintenance, and ensure only the inventory setting is using that account (and things like Variances and Adjustments have different accounts).

    If none of these things find the problem, run the IM Trial Balance, backdated, compared to the GL Trial Balance for the control account for the same dates.  At one point in the past things should have balanced... then keep  moving forwards through time until you start to see differences, and check the transaction patterns during that time period for what was done incorrectly.

  • 0 in reply to Kevin M
    SUGGESTED

    Another thought is that the IM Valuation report is "now"... including everything posted (no matter the date) but your GL account balance might exclude future dated transactions (depending on the report used).

    It's also possible you had a crashed posting, and corrupted data made its way into the transaction history files.  If that is the case, call your Sage Partner (or Sage support) for assistance.