Inventory value variance between GL and items register

Gayathris

Hi All,

 

While the inventory reconciliation report just shows the out of balance, doesn't really list out the journals or the transactions causing the  break, is there an efficient way to figure out the reason for the variance in inventory value between GL and items register? Thank you in advance.

Isaiah_C

Hi @Gayathris,

 

That doesn’t sound right, and I can see why you’d want to track down where the variance starts. The best place to begin is the Company Data Auditor. From there, run the review that compares item values with the linked inventory account, then open the Inventory Value Reconciliation Exception report if an out-of-balance figure appears. If you’ve already found the point where the values stop matching, check the transactions against the inventory control account around that date for anything unusual. You can also compare the item’s Current Value and test the Item Register with a future date to help narrow it down further. If the figures still don’t make sense and there’s no transaction clearly causing it, that can sometimes point to data file issues rather than just reporting differences. Please reach out to our live chat support through our virtual assistant, MOCA, or submit a case via My Account for further help. 

 

Regards,

Sai