INVENTORY VALUATION RECONCILIATION REPORT

Hi Mike/Doreen, thought I'd let you know between the client and myself the result as to why the report does not come up with any discrepancies' is apparently -  there is no discrepencies.....  Sorry for wasting your time, but it would have been nice to know somehow from the report that if the report shows nothing then the balancing is correct.  I do apologize as I haven't touched the inventory section for over 15 years.  Thanks again for looking into this and your support.  

Regards  Cheyenne

Hey CheyenneK,

You’ve definitely put in the hard yards checking your accounts and transactions, so it’s a head-scratcher when the Inventory Valuation Reconciliation is just a blank page. There’s no known issue with the report at the moment, but just double-check that “I Inventory This Item” is ticked for your stock items. This little step can make all the difference. If that’s all set and the report’s still not playing nicely, you can reach out to our team on Live Chat via our virtual assistant, MOCA, or by submitting a support case via MyAccount.

Cheers,

Doreen

Hi Doreen

The client started in Sep 2024, I have attached the ticked and allocated accounts to each of the items. As you can see the 'I track stock for this item' is greyed out so the default account 1-1320 is correct and cannot be changed. The Sales and Cost of Sales accounts seem to be correct in the choice, and the boxes are ticked. I have tried everything in the Inventory Value Reconciliation (attached)- changing dates and 'ExpandAll' button and no report presents itself. I decided to print the G/L Inventory 1-1320 account as well as the Sales 4-1400 and COS 5-0600 accounts (attached)and compare transactions.  There are a couple of discrepencies eg. General Journals in COS that need to be addressed with the client and a number of bills that appear in Inventory but not in COS - as to why ?? and I don't know why in COS both bills and invoices show.  Considering the Inventory Value Reconciliation is an exceptions report, I thought it would give me transactions that seemed incorrect so that they could be investigated.   BUT not.,.. 

Any Suggestions....  My next step is to contact MYOB support see if they can point out the problem.

Thank you for your time Doreen

Cheyenne

Hi Doreen, 

The client started in Sep 2024. In MYOB Business when you go through the items the 'I track stock for this item' is greyed out and beside it in purple it states, 'Why can't I change this?' It is already defaulted to the 'Asset category - 1-1320 Inventory' which is correct. All boxes are ticked that are required to be.  The other accounts being in 'Selling - Income account for tracking sales - 4-1400 Sales' and 'Cost of Sales category- 5-0600 Cost of sales'. I checked a number of the items have the same coding.  So, I don't understand why the report won't give any results (attachment).  I have 'Expand all', changed dates , etc. I have also printed out the G/L Inventory account for the period and matched it against the Sales and Cost of Sales accounts of transactions. I thought if there is a problem, (being an exception report), that it would tell us what the problems could be to correct. There are a couple of queries for the client eg a few bills that are in Inventory but not in COS and Gen Journals in COS and I don't Any suggestions - My next move is to talk with someone in support.  

Thanks for your time.

Hi CheyenneK​ , have you run the report for later month-ends? Are they also blank?

Hi Mike

Thank you for your interest. Attached is the qtrly results, I checked every month since the client started with no result. I can't see the client creating an item incorrectly when it is pretty stock standard almost automatic fill in for the accounts. 

thank you for your time.

Hi CheyenneK​ , does the stock on hand report give a normal result? (no need to attach it, this being a public forum).

Hi MIke

Yes, Stock on Hand report shows to be normal with item names, descriptions, quantities and values.

Hi Cheyenne, thanks for the update.  I would have been caught out too if it were me, it's a huge change from the desktop report for sure. Imagine if the bank rec report was designed the same way.

I searched the help for any statement of this new approach, but found nothing at https://www.myob.com/nz/support/myob-business/reporting/inventory-reports