Hi,

At year end, the inventory balance at Item valuation report does not match G/L balance. All transactions were posted by the transaction dates. I checked the last three years and found that these two amounts don't match at every period end. The outside accountant asked me why? I don't have any idea. Any help is appreciated!

Hi Jing,

Are you changing the Item Valuation report date to be the same as your year end date? If you are modifying the report date, then the report will recalculate the amounts as of that date. The caveat is that a complete transaction history is required in order to be able to do this recalculation successfully. If any pertinent IC Transaction History records were purged, then amounts on the Item Valuation report with an edited date are not guaranteed to be correct.

You indicated that amounts did not match 3 years ago, different by the same amount. It is possible that an error occurred that long ago or longer. To attempt to track this down, you would have to go back as far as the last time amounts did reconcile.

There are other threads in this forum related to attempting to track down differences in balancing to the GL. Using the Search function may be able to bring up a link similar to what you are experiencing and some help that works for you too. Try using +item +valuation as a search term.

Jing:

You may find that the recent IC v8.1B Hot Fix will resolve your problem.

If you are on current upgrade plans you will be bale to obtain this from your Adagio dealer.

You mean when I do month end and year end, I should not edit the dates. For example, when I print item evaluation report for February on March 2, I should not edit the date to Feb 28, just print the report on Mar 2 for Feb inventory valuation. In this way, the amounts would match? It's difficult for me to track down to previous years because the differces vary with all the periods. It appears that it is not one error happened.
Thanks for your quick response.

No, you can edit the date. But if you backdate the report to Feb 28, then your inventory history must be complete between Feb 28 and today, otherwise the calculated amounts will be wrong. All processes that write to IC History, including Day End in OE, must be done.

As Doug mentioned, we released a hot fix recently to address a specific scenario when printing the Item Valuation report with a date different than today. It may help, and you should contact your Adagio consultant for more information.

Thanks. I will contact my consultant.