autobuild inventory error
Hi, I am having huge issues with discreprancies between our inventory ledger balance and the general ledger balance. I have narrowed the issue down to two problems. 1. The negative items do...
Forum Discussion
What is the recap screen?
Hi Blair_38,
Thanks for posting your concern.
The recap screen can be accessed from Edit > Recap Transaction or Ctrl + R. It will show you what accounts were affected by the recorded transaction. I recommend reading through this article, Recapping Transactions. This will provide further information.
Feel free to respond with the screenshot that Mike_James has asked.
We look forward to your response.
Thanks,
Genreve
Ok, so I couldnt find that exact transaction in above example, so found another.
Have attached all screen shots of transaction.
Hi Blair_38
Thanks for the response and the screenshots attached.
For your first question, in my understanding, the negative amounts should not be equal to the positive amounts as the value of the raw materials is not the same as the finished products. Also, the recap of the transaction seems to be balanced in both debits and credits. May I clarify what we are trying to achieve in your build items?
For the second question, if the inventory account for an item is the raw materials account, creating a new item from it will produce a debit on the raw materials account. and a credit to the new item's inventory tracking account. I recommend checking the "Asset Account for Item Inventory" for the item in question.
Let us know if you need any further assistance with this. Also, feel free to let us know if you have private information regarding this concern.
Thanks,
Genreve
Q1. If the negatives and the positives do not equal, where does the difference go? It is this difference that is throwing the asset account balances out and impacting on why the inventory value and account balance on the inventory value reconcilitation report do not equal.
So, if raw materials = $50 and finished product = $100 the journal is:
DR finished products $100
CR raw materials $50
CR ????? $50
Q2. I have checked the asset account for item inventory. The account used in this field is the account that automatically appears in the account column on the build. It does not go to the raw materials account. This is the problem we are having and trying to work out how to fix.
