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 ru...
Forum Discussion
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.
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.
Hi Mike,
This Valuation reconciliation problem has come up again. Are you able to help again?
Hi RodneyPollen​ , have you been able to locate the cause, using previous suggestions? Can you provide more details of the issue?
Note that the solution I gave you last year (editing the invoice to re-calculate the cost of sale) no longer works, due to changes made to the program. But invoices can still be edited via the API which does update the cost of sale, it just requires developer assistance to do that.
