Inventory balance as per GL vs inventory balance as per items register

Gayathris

Hi All,

 

Is it normal to have discrepancy in inventory balance as per GL vs inventory balance as per items register given that the GL balance is computed as opening balance plus purchases less cost of goods sold. On the other hand, items register values stock in hand items on average cost basis.

 

Thanks.

Earl_HD

Hi @Gayathris,

Thanks for raising this. Yes, it is possible to see a difference here, and it does not always mean your inventory figures are wrong.
 

In AccountRight, the main report to compare against the general ledger is the Inventory Value Reconciliation report. If you’re checking whether your stock value matches the GL, that’s the report I’d recommend using first. It’s also worth running the Item Register Detail report for the same date as a cross-check. If the Inventory Value Reconciliation report and the Item Register Detail report line up, that’s usually a good sign that your inventory values are consistent.

If the Inventory Value Reconciliation report is out of balance with the GL, I’d suggest working through this help article, as it covers the common causes and checks: Receivables, payables or inventory out of balance.

Regards,
Earl