Balance difference between GL and Inventory

[johnhugh]

Hi,

We're using Accpac 5.5.
The trial balance for our stock account in GL is, when compared to the item valuation report (location details costs), out by several thousands.

How would I go ahead finding out where the difference in GL is coming from?
I've printed the G/L Transactions Listing report but could not find journal entries for our stock account.

 

[Jay Converse]

Could be one or more of:

1. Timing differences
2. Unposted batches
3. Non-IC entries posted to the account
4. Variances because of average costing plus negative inventory

This is why accountants have jobs.

 

[ettienne]

Another one is a wrong GL account in one of the IC account set or category GL account fields.
I see this often where for example IC adjustments are posted to the inventory control account.

 

[johnhugh]

Thanks for your replies.
How would you go ahead in finding the error.

I'd use the GL transaction listings report, but which one is the best to use in IC please?

 

[ettienne]

IC history

 

[johnhugh]

Thanks. I'll try that.

 

[JamieBouchie]

We have the same thing happening. There's always been a bit of difference ($400) but just lately it's jumped to $1200 approx.

I've spent a lot of time & $$$ trying to correct it and ultimately we've just made adjustments in the past to close the gaps.

But I've never had the 2 be identical.

When I run an item valuation I always put a check in just the actual cost. Is that the best one to use?

 

[ettienne]

Actual cost is the only cost to use.