Home › Discussions › Questions & Answers › Reconciliation Differences After Inventory Period Close
Customer · · Questions & Answers · 7 replies
After closing our inventory period, we found discrepancies between the cumulative accounting entries and the valuation reported on-hand. How can I use Blitz Report to detail these ‘out-of-balance’ differences?
You should run the CAC Inventory Out-of-Balance report. This report shows differences between the cumulative inventory accounting entries and the onhand valuation of subinventories and intransit stock locations, compared against the period end snapshot.
I only want to report differences that exceed $100. How can I configure the sensitivity of the report?
Use the mandatory parameter ‘Minimum Value Difference’. By default, it is set to one, but you can enter a larger value like 100 to restrict the output to significant differences. To see all differences, enter a value of zero (0).
Since this relies on the period close snapshot, what parameter must I provide to specify the period?
The ‘Period Name (Closed)’ parameter is mandatory, as it specifies the closed inventory accounting period you wish to report.
Is there a report to check if our inventory periods were properly summarized after being closed?
Yes, run the CAC Inventory Periods Not Closed or Summarized report. It finds periods that are open or closed but not summarized, which impacts efficient month-end reporting.
Sign in with LinkedIn or Google to take part.
