No inventory on hand recorded or cost value despite Bill posted to item code

[KFAll]

Bill was recorded to an Item code with 1 item received and a price of $125,000.00.  This Bill and $125,000.00 is recorded in the Balance Sheet stock on hand GL, but Item in inventory shows no stock on hand and no cost value.  So inventory valuation is out of balance by $125,000. 

This item does have a sales order against it, so is committed for sale.  Still a sales order not a sales invoice.

How do I adjust the inventory value from 0 to 1 and record 'last purchase price' in inventory item, without posting to GL.  GL is correct but inventory valuation is incorrect.

[Doreen_P]

Hi, @KFAll 

Thanks for your post, and welcome to the MYOB Community Forum.

If your inventory value reconciliation is out of balance, kindly check your Inventory Value Reconciliation Exceptions report and check the following:

• Wrong feature used
• Transactions allocated directly the the inventory asset account
• Incorrect linked accounts

These are the possible reasons why your inventory value reconciliation is out of balance. For further information regarding the issue, kindly check The Help Article: Receivables, payables or inventory out of balance.

Please let us know if you require any further assistance with this. We are happy to assist.

Best regards,

Doreen

[KFAll]

Hi @Doreen_P 

Thank you for your suggestions.

The Inventory Value Reconciliation Exeptions report does show the total out of balance is $125,000 but the items list on the report are small values from a few years ago.

The entry was a Bill which the stock item 1509 was used.  I have checked Stock item 1509 linked accounts and they appear correct.  When I check the History tab in Item 1509 the purchase on 23.2.2023 does not show in the month of Feb 2023.

I can see the PJ entry for the Bill recorded in the Inventory GL 1-1340 but no value or quantity is recorded in item 1509.  attached are screen shots.

Any other suggestions please?

Thanks

[Mike_James · Accepted solution]

Hi @KFAll , try editing the bill and change the amount to $125,001, then record the bll, then edit it again and change the amount back again.

Doe\s it appear on the stock record now?

[KFAll]

Thanks @Mike_James :-)

[Doreen_P]

Hi, @KFAll 

We are glad to hear that the workaround provided by @Mike_James worked for you. Please feel free to post again if you require any further assistance. We are delighted to assist you.

Best regards,

Doreen