After posting Inventory to G/L, the Inventory Asset Account was updated to a number that doesn't match the Company Owned Inventory Statement for that Department.
If that happens, check the following:
- Agvance uses the company-owned value of each Department at Accounting / G/L / Post Inventory to G/L, valuing the Inventory based on the Cost to Use selected on the posting screen. It is possible that the Company Owned Inventory Statement was run in such a way that it does not reflect the same value that Agvance is using to post.
- Verify that the Company Owned Inventory Statement was run for the same cost used at Post Inventory to G/L.
For example, if the report was run for Last Cost when Average Cost was posted, then the figures likely won't match. More information about Inventory Statements and Trial Balances Not Matching can be found here.
- Verify that the Company Owned Inventory Statement was run for the same cost used at Post Inventory to G/L.
- It is possible it was a matter of timing and Inventory activity took place after the Company Owned Inventory Statement was run, but before the Inventory posting took place.
- Run the Department Reference List report, found at Accounting Reports / Inventory / Product, to be sure the Department is set to post to the correct Inventory Asset Account.
- To include Consignment Products in the Company Owned report, select the Include Consignment Products option. If this isn't checked, any Consignment Products in that Department will not be included in the report.
- Check for inactive Products in the Department. Make sure any inactive Products do not have an amount on hand or any unprocessed Purchase Receipts, Delivery Tickets, or Blend Tickets.
- Make sure that the company-owned value is not including non-inventoried Products.
