ISTech Support Forum

ISTech Support Forum
http://www.istechforum.com/YaBB.pl
Evo-ERP and DBA Classic >> Accounting >> balancing inventory to general ledger??
http://www.istechforum.com/YaBB.pl?num=1109018150

Message started by Kristie on 02/21/05 at 12:35:50

Title: balancing inventory to general ledger??
Post by Kristie on 02/21/05 at 12:35:50

Does anyone know of a report that can compare, item by item, all inventory transactions to the general ledger inventory account by date and/or transaction type? Our monthly inventory transactions never tie to the G/L and we are trying to found out why and how to correct it. Does anyone else have this out of balance problem?

Title: Re: balancing inventory to general ledger??
Post by aricon on 02/21/05 at 14:59:00

Yes, others have that issue. As to the report, you would need to create this in either Crystal or MS Access.

Title: Re: balancing inventory to general ledger??
Post by Kristie on 02/22/05 at 06:29:04

Okay. Unfortunately, I have obsoletely no experience in either one. I have never created a custom report and do not know how to begin one.

Title: Re: balancing inventory to general ledger??
Post by kevind on 02/22/05 at 06:49:07

I have a crystal report we use to balance inventory against G/L.
I am home with a sick kid today, but I will find it tomorrow and share it.

Title: Re: balancing inventory to general ledger??
Post by kristinfitz on 02/22/05 at 13:16:08

Kevin,

If you could share that report with me as well, that would be greatly appreciated as I have been having a similar problem. Thanks so much!

Title: Re: balancing inventory to general ledger??
Post by rmh148 on 05/09/05 at 07:55:49

I'm just getting started with DBA and I already see that this is a huge balancing act. Could you share that report program with me as well. I do not like to re-invent if I don't need to. In advance, thanks for you help.

Rod

Title: Re: balancing inventory to general ledger??
Post by CCKEITH on 05/09/05 at 10:57:27

Could you share the report with me as well?

Thanks.

Title: Re: balancing inventory to general ledger??
Post by kevind on 05/09/05 at 18:08:47

Everyone,
Please accept my sincere apologies for not responding to these requests.
I have been totally immersed in a firmware project for one of
our products and have not had time to check into this as I had promised.

What I have is a small php script that allows the accountant to get a quick value
of each of our Inventory asset accounts so that we then adjust the GL to it.

We use this script instead of the value reports because we usually do not want the individual
item detail. Instead, we just want current values for the inventory asset accounts.

Again, I apologize for not responding in a timely fashion.

Title: Re: balancing inventory to general ledger??
Post by tammy on 06/13/05 at 03:44:18

Has anyone figured out how to fix this problem, we have a huge problem with it every month end.

Title: Re: balancing inventory to general ledger??
Post by Karen Mason on 06/14/05 at 04:03:42

We also have a huge problem with this each month. Part of our problem seems to stem from working on work orders after finished production has been posted. We have to post finished production to post sales. Backing the figures in and out of work orders once the sale has been posted creates its own set of problems with inventory.

For us, these adjustments have become the norm, which is disturbing. Our previous system we could balance wip & inventory to the penny. With DBA we have wild swings. Sometimes the WIP & inventory swings cancel each other out, sometimes not.

The shear number of transactions prohibits figuring out where the breakdown exists each month.

Title: Re: balancing inventory to general ledger??
Post by lmk223a on 06/14/05 at 09:30:59

We post sales the day AFTER shipment is made. This provides for entering labor to the work order for the day of the shipment as sometimes things are worked on the same day they ship, and the act of releasing packing slips does not require finished production to be entered.
After labor is entered, we verify all material is issued to the work order, then enter finished production. In SO-G, posting invoices, COGS are checked in the pre-post report before effectuating the final post. This provides for correcting COGS that appear to be out of line before posting.

COGS are accurate 99.5% of the time. Variation between finished goods book value and IN-F is minimal.