Forum Discussion

RodneyPollen's avatar
RodneyPollen
Contributing User
15 days ago

Inventory Value Reconciliation Error

Hello,

 

My Inventory Value Reconciliation in out of balance. (Screenshot Recon 1)

The Recon is out of balance from 29/04/2024 by 1,317,069.63

The AB-WIP item has different closing values if I run the report from the 27/05/2024 (Screen shot Register 1) or 29/04/2024 (Screen Shot Register 2).

The value 1,317,069.63 seems to appear from nowhere.

 

Please HELP

2 Replies

  • Mike_James's avatar
    Mike_James
    Ultimate Partner

    Hi RodneyPollen , generally, I would run the reconciliation report for previous month ends, to find the month in which the difference occurred. Then repeat forward half the month; if it still in balance, go forward half the remainder of the month. If it is not in balance, go back half the remainder. Repeat.

     

    Eventually you may find a couple of days where the imbalance occurred. Then run the Analyse Sales Item report for those days, and see if any margins are unusual. 

     

    Then for any such items, depending on sales volumes, run the item sales detail report, and edit each invoice, add a fullstop to the description, and click OK. This will update the cost of sales figure. This process may resolve the imbalance. 

    • RodneyPollen's avatar
      RodneyPollen
      Contributing User

      Hi Mike,

      I know the day when the difference on the Reconciliation occurred. What's odd is the recon value does not agree with the items Register Value and even more weird is, running the Register report with different start dates changes the closing balance (see Screen Shots).

      Notice the 1,317,069.63 brought forward balance in Register 1 is gone when I run the same report with an earlier start date (that includes the 29th) when the stock adjustment that I think caused the problem was done. It's in a locked period so I don't know how to undo it.