Monday, June 10, 2013
Dynamics GP Inventory Reconcile to GL
Posted by Armanino Dynamics Team
Dynamics GP Inventory Reconcile to GL allows you to quickly reconcile your inventory records in GP to your general ledger.
The reconciliation of inventory to the general ledger can be complicated because you may have several general ledger accounts that represent the valuation of your inventory. And there are a lot of transaction types that effect inventory, e.g. purchase orders, cycle counts, sales invoices, quantity/value adjustments. And if you then use the customer and inventory masterfile to select different GL accounts based on specific customers and items, you can have a real mess if everything isn’t set up correctly.
To run the Dynamics GP Inventory Reconcile to GL process, navigate to the Finance Area Page >> Routines >> Reconcile to GL:
The key with this window is to correctly and completely identify the general ledger accounts that represent your inventory value. Once you’ve selected the appropriate dates, click on “Process” to view the results in Excel.
This is an example of what you’ll see:
The “Unmatched Transactions” are the ones that you’ll want to investigate. There are links to the underlying transactions in GP from the Excel results report that will help you identify and correct the problems.
The “Potentially Matched Transactions” are transactions that do not match on these criteria:
- Transaction Source
- Journal Entry Number
- Document Number
You will want to analyze these to see how your records can be adjusted to fix the problems.
The “Matched Transactions” are good and you don’t have to worry about them.
After you have made your changes you can run a new reconciliation to see the results.
Here is a quick video that shows this functionality:
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