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ISTech Support Forum
http://www.istechforum.com/YaBB.pl Evo-ERP and DBA Classic >> Accounting >> balance sheet vs. inventory value http://www.istechforum.com/YaBB.pl?num=1114806749 Message started by Lenette on 04/29/05 at 12:32:29 |
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Title: balance sheet vs. inventory value Post by Lenette on 04/29/05 at 12:32:29 why is it every time i run IN-F, the total does not match the total on my balance sheet? Example: B/S: Raw = $148,472.91, Assem. = $30,326.53, Fin. Goods = $50,342.60 Total = $229,142.04 IN-F = $232,512.29 Difference of $978.06 Lenette |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 04/29/05 at 13:03:59 Can you look at your GL by part type and compare it to the IN-F report by GL account to see which of the three types are off the most? YOu might find that manufactured product is off more than your raws. To do this you need different GL accounts for R-type, A-type and F-type. Do you make an adjustment every month to make the numbers in GL match the inventory? We did not for a long time, and could not track any real problems because we never knew where we stood. Now we make an adjustment every month, and it is rarely over $100 total, and if it is, we know there is a problem! I know if you finish product at actual cost and have a lot of inventory, there is a possibly of being way off because the batches have been finished at different cost for one reason or another, but come out at the current average. In other words they go into the GL inventory account at one cost and come out at another. |
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Title: Re: balance sheet vs. inventory value Post by Lenette on 04/29/05 at 13:07:52 Raw off ($1,165.39) Assem. off ($849.61) Finished off $1,036.94 Lenette |
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Title: Re: balance sheet vs. inventory value Post by RAGINE on 04/29/05 at 13:28:50 Lenette, Do you recalculate inventory book value? (System Manager UT-K-G.) I do this several times during the month and my month-end adjustments are usually under $20.00. Ragine |
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Title: Re: balance sheet vs. inventory value Post by Lenette on 04/29/05 at 13:42:07 yes...... actually all steps were done yesterday to prep for PI-A. and my book value was only changed $120ish. i had everything in balance the end of February so this difference is not even 2 months worth of work??? Lenette |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 04/30/05 at 09:11:08 Well, this is interesting. I missed my March adjustments, and started on April's yesterday. I had made adjustments of $28 & $82 to my two inventory class accounts in February. When I ran the numbers for yesterday, I came up with differences of $20,996 & $4,773. If I try going back in time to February 28, I now see differences of $15,405 & $4,365. Can I not run the numbers for a previous date, or did something happen? And in any case, I can't think of any reason why I'm so far off now - I can't think of anything we've changed system wise. |
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Title: Re: balance sheet vs. inventory value Post by RAGINE on 05/02/05 at 07:00:16 After David's post I went back and checked my accounts, they were also off ($95.71) for the four inventory accts that we use. Granted it's not alot, but why would this occur? Ragine |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 05/02/05 at 07:20:12 Everyone, are you sure when you run your reports that all transactions that could affect the GL balances for inventory accounts have been posted in the GL? Those would be PO receipts, Ajsutments, and WO transactions. THis has happened to me before since I am not the one to post PO receipts in the GL. |
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Title: Re: balance sheet vs. inventory value Post by Lenette on 05/02/05 at 08:20:26 I kicked everyone out of DBA. Then I had the GL-O person post everything. Then I started with all the inventory capture procedures. Ran everything required then PI-A occured. After that, I printed the B/S and started comparing Aging (both AP & AR) reports against the BS. Also, compared by RNI report which is never in balance due to some weird DBA programming error that has not yet been resolved. In any case, nothing unusual has occured on our end to cause these difference (well at least to my knowledge). Lenette |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 05/02/05 at 08:41:18 Well, gee, there must be something in the air. I checked my balances this morning and they are off, both finished goods and wip. But I know why. ON Friday I was finishing a product in WO-I, and I recalculated actual costs, entered 1 in the quantity field and then noticed that the estimated cost was not accurate. So I exited, before I pressed "enter" but after I put a "1" in quantity good completed. ( If I had pressed enter I would have had to assign a serial number.) I went back to the work order, which showed 0 finished, and fixed the estimated costs. Then I finished the work order. My work order now says 1 was finished, my inventory quantity in the value report is correct, but my GL account has two entries for finished product for that work order. So GL is too high by $7000+ and WIP is too low by same amount. I know we have exited at that same point in WO-I in the past. This time it didn't work. This could be a problem for you if your people finishing product stop in the middle of the process. We have had lots of problems in the past with backing out of inventory transactions, so we do negatives instead, which are not 100% either, but less of a mess. SEE my post under inventory or problem reports- I can't remember which- probably both! Actually just found one of the threads, under manufacturing- Can't close WO - Says Not all Items Issued « on: Feb 21st, 2005, 7:50am » Another thing I thought of that we have had trouble in the past with is type N parts that use inventory asset accounts instead of expense accounts. Since they are non counted, they don't show up on the value report, but if you are using the same asset account as raws when you purchase them, your balances won't match. |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/02/05 at 11:09:32 cathyh wrote:
I know we have done that numerous times. Since it's before it asks "Do you want to save this record?" It never would have occured to me that it would do anything. Guess I'll be checking on that. |
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Title: Re: balance sheet vs. inventory value Post by Lenette on 05/02/05 at 11:42:47 No doubt. |
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Title: Re: balance sheet vs. inventory value Post by aricon on 05/02/05 at 14:05:48 Hmmm....y'all didn't read the fine print in the DBA license agreement about simply not making any mistakes or changing your mind, I take it?? ;D |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/03/05 at 04:12:18 aricon wrote:
I guess I did. What's it say? Even though we're not perfect, we expect you to be. That way if there's a problem you'll know it's our mistake, not yours. |
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Title: Re: balance sheet vs. inventory value Post by aricon on 05/03/05 at 07:28:46 Ahhh.....look at that, David was kind enough to post it! ;D |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/04/05 at 11:01:52 OK, all joking aside, this seems a real problem. I thought we were doing all right this year, and a $28k debit to my Absorbed Labor and Overhead account is something I'm going to do only while kicking and screaming. My biggest question is what could have happened so that what was good on Feb 28 is now off by $20k? |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 05/04/05 at 11:53:31 Do you reset the period-end close date every month after all is posted so that no one can make posts to previous months? If not, could someone have made a post to February? You could try running a GL transaction report for each month starting with feb for each of the the two accounts, and see if anything jumps out at you. When I first started monitoring my inventory acounts, I would dump an entire months worth of transactions from the WIP GL account into an excel worksheet, and sort by work order. I would add all issues, both material and labor, and compare to what was taken out when the work order was finished. I took me forever, but usually at the end of the process I knew what caused the difference between wip summary and the WIP GL account. That may not be possible for you- we run a real job shop where most items we build are one on and we carry little or no inventory in finished goods. We finish at actual cost and so the numbers in and out of wip GL should match. |
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Title: Re: balance sheet vs. inventory value Post by Cyndee Pappas on 05/04/05 at 12:17:05 I had installed the 022205 update in early April and had strange numbers for end of April. Tried to install the fixed IN-F from the website, but wouldn't work (license issues). I think you may need to be on the 032505 update to use it. Anyhow, I went back to the BKINF.run dated 100404 and IN-F matches my GL. Also re-ran today with 033105 dates and these match reports I ran before the 022205 update was installed. YMMV |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 05/04/05 at 12:27:12 I loaded the 2/22 update on 2/27 and have had no real problems with my GL balances until this one with the unfinished finish really finishing! |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/04/05 at 12:31:48 I do re-set the period end close every month, but not so that it would prevent this type of thing. I run the reports (IN-F value vs GL value) a day or two before the end of the month, and at the end of the month set the close date for one month before, because there are always things that trickle in for at least two weeks after the end of the month. Maybe I'm doing this wrong, but as I recall, the ability to select a previous date in IN-F is only a recent improvement, so it originally had to be done "as of now". The point is that theoretically there shouldn't be any adjustments. I realize that because of the way DBA does stuff there will be some small ones. Ten or twenty dollars here and there, or even a hundred once in a while would not seem unreasonable to me. The fact that there may be a few transactions backdated should have an extremely small effect, I should think. Or tell me I'm all wet, just tell me something. :o |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/04/05 at 13:02:55 Cyndee posted while I was posting, so I went and changed my IN-F back to the one dated 9/8/04. I think that was my biggest problem. As of today I'm still off a total of about $4500, but back at Feb 28 it's only $477. So I may still have some setup issues that I need to track down, but there's something wrong with one of the IN-Fs. Leaving all filters in IN-F cleared so that everything in inventory should be included I get the following numbers: 162,873.36 with IN-F dated 9/8/04 138,663.48 with IN-F dated 3/31/05 I haven't tried adding the numbers with a calculator to see if it's a "new math" type problem, but I quickly notice that there is one more page in the report with the old file..... |
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Title: Re: balance sheet vs. inventory value Post by Lynn Pantic on 05/04/05 at 13:36:49 I will take a very close look at the latest IN-F. The only thing we changed (supposedly) was add filters for from/thru Primary Vendor and Customer so if you leave them blank, you should get everything but stranger things have happened. |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/05/05 at 06:20:53 I just came across the thread unders Items about things missing from IN-F. I downloaded the file dated 4/4/05. That one seems to be fine. |
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Title: Re: balance sheet vs. inventory value Post by Lynn Pantic on 05/05/05 at 07:19:25 Cross another one off the list... Thanks David. For anybody else following this thread, the file is at www.istechsupport.com/dl/inf.zip If anybody continues to have problems using this latest IN-F, please let me know. |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 05/06/05 at 12:38:02 was the problem with the 3/31 update or 2/22? I haven't had any problems with this report and I have the 2/22 update. I print always with an "as of" date, and I print by GL account. If it was the 2/22 update that had problems then I am having trouble understanding why some of you out there have big problems and I don't. Which brings up another thing I would like confirmed- If I haven't loaded the lastest update, and something is fixed and you send a separate fix for it, do you also include it in the current version of the latest update so that that when I load it I don't need the separate fix? I am assuming you do- could you confirm that? |
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Title: Re: balance sheet vs. inventory value Post by David Waldmann on 05/06/05 at 12:52:12 My BKINF.RUN.BAD file is dated 3/31/05/12:32 PM. The updated (good) one is 4/4/05/10:53 AM. |
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Title: Re: balance sheet vs. inventory value Post by Lenette on 12/08/05 at 08:54:01 I'm having differences again. I can't determine if it is caused by the last update HOWEVER, they are very unexplainable. On several occasions, I have run UT-K-I, SM-J-C and UT-K-G to balance the IN-F report against the B/S. I have made any necessary GL enteries to force the balance. Only to find a day or two later the numbers are all wacked out. The IN-F report may show a few cents in differences between the Average & Book Values. These differences do match the outcome of the UT-K-G report. HOWEVER, when you try to tie them into the GL accounts in the B/S. They are off. For example Finished Good should have been out $0.04 instead the IN-F report was out $32.78 for the B/S. I know this number isn't huge however today I did a quick check (also everthing in GL-O is posted) and I'm out $513.10 from yesterday afternoon. Is anyone else having problems? Does it matter if WOs are open? |
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Title: Re: balance sheet vs. inventory value Post by cathyh on 12/08/05 at 10:10:18 The only time I see real differences in my GL account balances and my inventory Value report by GL account is when( and I may be repeating myself): Purchases are posted to the wrong asset account either because the part purchased is a N type with the wrong class code or more recently the wrong GL account in the PO line item This past month we had problems with this at the end of the month. (before the last update 11/18 we were having errors with PO's putting the wrong account in the line item but it's been fixed) I find these by doing a detailed trial balance of the asset account in question for RP types and check the purchased parts to make sure they belong to the particular GL asset account I am looking at. Issues , for one reason or another are done at $0 cost and the value report reflects that they are gone but the GL had no post since the total was $0. I find these by printing all WO issues for a time period in JC-E and look for issues with $0 cost. In Assembly ( what we call Accessories asset) and Finished Goods asset accounts, the work order has been finished and shipped but not invoiced ( or the invoice has not been posted). Or the Finished Good cost posted to the asset account is way different from the average cost it comes out at. We make adjustments ever month of under $30 dollars, and last month we were off by over $1000 in our Raw Materials Asset account. It was all about Purchases not going where they should. Thank goodness that is fixed. Hope this helps. |
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