Inventory Reconciliation Out Of Balance

[Leahdaz]

MYOB Inventory Reconciliation Out of Balance 

My Issues: In February I noticed that my Inventory Reconciliation changed from being reconciled to out of balance from previously closed and reconciled financial years and months. – THIS SHOULD BE IMPOSSIBLE AS THE FINANCIAL YEARS WERE CLOSED AND PURGED.

I can not pinpoint what day or year but so far I can confirm the:

• Inventory Value has changed for 2016 onwards
• The Account Balance Figure has not changed from 2016 onwards

Things I have tried so far:

• I have gone through and exported all my inventory items and checked they are correctly allocated to the stock account, and they are.
• I have also gone through my stock ledger and there is no GJ items.
• I noticed a day in January where the stock error changed in value.
  • I looked up the Stock ledger check the items were correct – They were
  • Checked for GJ transactions – none
  • The purchases and sales on that day, they are all fine.  
  • Any “Build Items” I went in and checked not only the build (recap transaction and each item individually) but that transaction from start to finish and there are no errors.

It would indicate to me it’s a program issues, given that closed and rolled over financial years Inventory figure has changed but account balance has not.

Would love feedback and help as MYOB’s only suggestion is to start a new company file. Anyone who uses MYOB and runs a business will know that this is a long and lengthy process and tbh and unacceptable. I have requested that it be escalated but MYOB seem reluctant to let you escalate any issues. – Quite Frustrated.

Side Note - MYOB Select Location really needs a Inventory section

[NimrodEng]

Hi, 

I have found the same major inventory valuation issues.

I have had inventory items appear that have negative values dating back to 2015. These are new and unexplainable. 

I spent a hour on the phone to a MYOB stock "expert" he tried a few things and ran a script his end. It did not work, I asked to excalate the issue as it is having a major effect on my reporting (and finiancial year in 31/03) he refused to do this!?

His only solution was to manually adust the inventory to the correct qty's and values, but I have no idea how many stock lines this bug has effectived.

Absolutley not good enough from MYOB!!

[Leahdaz]

Thank you for your comment, I feel your pain. I was hoping that maybe if someone had the same issue as me, they may have some tips on how to get MYOB to listen.

I also spent time with a so called "inventory expert" and before he even looked at the issue informed me that I would prob have to start a new file. After our conversation I then called back and asked for a second opinion, but still nothing, and they will not let you talk to anyone that is further up in the support desk.

I have asked that it be sent off for a data repair as it has to be something to do with the program and they will not do it.

I explained that it is unacceptable that my reconciliation reports were out of balance and for previously CLOSED financial years and that this issue needs to be resolved. Both support rep's told me this didn't matter and that it wouldn't matter come EOFY and to do a Journal to rectify the problem, if I wanted to.   I was speechless, the suggested solution showed lack of real business and accounting knowledge....

This is more than unacceptable.  I am losing faith in MYOB and in the so called support team. 

Good Luck, and hope you have more luck than I have with MYOB

[Komal_S]

Hi @Leahdaz , @NimrodEng 

Sorry to hear you weren't happy with the workarounds provided.

@Leahdaz  For your issue, as you mentioned you were able to identify the date at which the out of balance occurred, are you able to generate 3 reports, one for the time period before the offending date, one report just for the date the out of balance occurred, and one after the out of balance till future. Once that is done, please follow the steps in this help article as it has reasons mentioned for inventory out of balance situations. 

If you have already followed the workarounds in those help articles, attach all the three reports here and also confirm the item number that is causing the out-of-balance. 

@NimrodEng  The first thing to check would be if those items are still active in the current financial year and if yes, does doing an adjustment for one item fix the issue? If not, please start a new forum post with the reports showing the current quantity and value for those items and what should be their actual value so we can investigate further. 

[Leahdaz]

Thank you for your response @Komal_S  & @NimrodEng 

The important part to note and the one I can't seem to get MYOB to understand is .... This is not an error that I can fix as this relates to closed financial periods, hence me trying to get MYOB to see if it is a program or report error.  To me this is an error in the Inventory data base or the inventory reconciliation report query function why else would the “Account balance” remain correct but the “Item balance” change when I compare it to old backups, I have tracked this back pre-2015.

This error did not appear until Feb 2022, and I know all the reports to look at and have also walked through them with MYOB. Its is nothing to do with the processing of any transactions. 

I also note this morning I have received an email from MYOB "We've identified an error with your cost of goods calculation" this error is affecting all customers using inventory...." , so if myself and @NimrodEng  have an issue with CLOSED and LOCKED financial years inventory amounts changing that maybe MYOB should take our issue seriously not tell me to simply start a new company file.

As discussed, starting a new company file is not an acceptable solution and it’s also not the first time that MYOB has had issues, so I can say that If I am going to go to the trouble of starting a new company file then there is no way I will stay with MYOB as the Technical Support team don't seem to want to investigate issues if they get to hard.

[gavin12345]

Hi @Leahdaz 

Glad to hear that MYOB at least seem to be acknowledging an issue via their email - hope you get it resolved.

Just about your comment that there seems to be a change to closed and locked periods - wondering what you are basing this on?

Are you saying that an Inventory Value Reconciliation report dated 30 June 2020 (based on an hard copy or backup) shows a different value to the same report and the same date now?

While there are numerous bugs in the Inventory module, I would be very surprised if MYOB is changing things like COGS on closed or already processed invoices. Recap Transaction is not a reliable indicator as this always uses current setting and values when you review an old transaction - use the Transaction Journal to review values used in an old invoice.

If you are using Item Register reports or similar to track down a discrepancy, be aware that many of these work backwards and any error/issue in 2022 will give you the wrong opening balance back in say 1 July 2019. Due to how these reports work it is notoriously difficult to pin point when an error occurred. My bet would be that the error/issue occurred recently and this has thrown earlier inventory reports out.

Does the email provide any further information about the issue?

Regards

Gavin

[Leahdaz]

Hi @gavin12345 

No this issue has not been resolved. MYOB have just acknowledged via a generalized email that there is an issue will all MYOB and inventory, however it only relates to issues  for this financial year and the COGS.

I understand your confusion regarding YES I am saying that my Inventory Reconciliation Report has changed from previously closed and locked financial years and periods.

FYI:

• The working files Account Balance – Has remained the same as all my backups.
• The working file Inventory Balance – from 2013 is the figure that has changed and I believe is the issue
• I am getting the information by comparing the working file against my backups.
• Note I not only rollover EOFY but also reconcile my accounts and lock each month.  
• I noticed the error second week of February as I know the “Inventory Balance” was correct as of end of January when I locked the file.
• My only comfort is that the "Account Balance" being the stock on hand balance in the Balance sheet is the correct figure and has not changed.

When I found the error, I did all the normal checks and that’s when I realized it had to be an issue with MYOB as it has changed CLOSED and LOCKED financial periods. I have called MYOB and been on Team Viewer with them, but they cannot explain the issue and have advised that I need to start a new file. They would not escalate the issue any further.

My concern is how can I trust the information when I export the inventory out and import it into a new file that this will correct the issue not to mention that my inventory values are in fact correct.

I am seriously considering trying to go back and use the backup from Feb, where my inventory reconciled and re-enter all the data and then dumping MYOB as they will not even try and do a data repair. As you can image, I am not happy and pay a lot of money for Tech Support that I am not receiving. And believe me I have been on hold for over 20 hours in the last 3 days.

[gavin12345]

Hi @Leahdaz 

I can understand your frustration. The reason why starting a new file will NOT solve the problem is you will still be using AR2022. Therein lies the problem. Fix your file or start a new one, in time the same issue will occur - nothing will stop this until MYOB fix the software - as I have stated on numerous occasions, there are too many bugs in the inventory module. These are not user errors. Most seem to occur when a user does something 'unusual' and MYOB just doesn't handle it properly. By unusual I mean things like editing a recorded Item invoice, issuing a credit item invoice, reversing an item transaction - there is nothing wrong with these transactions and MYOB should be able to handle all these changes, unfortunately it does not, at least not all the time. The situations where MYOB messes up vary and they are not easily reproducible, they often depend on a number of factors, one or more of which MYOB developers overlooked during the coding.

Best of luck sorting the issues.

Gavin

[Leahdaz]

Thank you @gavin12345 

Have you got any tips on getting MYOB Tech Support to help me find a bandaid solution to limp me through till EOFY, so my records will at least be correct for June. Then I can move forward?

Appreciate any tips you may be able to give me.

[Kelly2019]

Hi @Leahdaz, just read all of these posts and thought I'd let you know we are having the exact issue as you. We haven't found when the issue has occured though.