I am looking for some explanations.

1) Why do the "As of" Item Valuation reports change when reporting the same "As of date"? For instance, if I were to report as of 1-31-07 today, I may get a different result if I were report as of 1-31-07 next week.

2) Why, when reporting item valuation (and backdating "as of") in "summary" "by category", do the category line totals not add up to the report total?

3)Why at the end of the month, when GL retrieves data, the calculation for the value of the inventory (based on accounts) does not match the Inventory Item Valuation report?

The Value of the inventory is a very important calculation for us do to the fact that we borrow against inventory for our Line of Credit.

Hi Nick,

1) They shouldn't - as long as you have not purged any or your history records. We'll need to see the data to track this down if this behaviour is repeatable.

2) Sounds like a problem with the report when it is printed with those specific options. We'll take a look and see if we can re-create the problem.

3) The numbers should match (assuming no history has been purged)- perhaps it's just the specific report options you are using. Can you provide an example?

PS - Isn't it "President's Day" today?

Andrew: President's day is not observed by most businesses, only governments and schools. It's sort of a phony holiday.

Nick: Re #3) Does the Item Valuation report as of today (not backdated) agree to the GL balance as of today? If it doesn't, then the problem is not report related, but something else. Especially if the variance is the same for today as for the past date.

Hi Nick,

I was not able to replicate issue #2 you mentioned above. The Item valuation report indeed prints the total of the displayed costs when sorting by Category and printing the Summary version of the report. There may be something in your data that is affecting the values.

I'd like to reply to your problem, since I had the same trouble with my inventory valuation not balancing to my inventory gl acct. My Inventory GL Acct balances were correct but not the Item valuation.

I have corrected the problem by not posting adjustments in Inventory (IC) before Order Entry, Inventory & Purple PO's day end's are processed. The adjustments made before Order Entry and PO's were posted may have been retrieving the wrong values since not updated.

Also make sure your Inventory Day ends are done after transaction are retrieved into inventory, ie: After every Order Entry Day End.

Hope that's useful.

Hello Treasure S,

Yes - that's a useful observation. Generally, you'd want to process all receipts (especially) and sales, before posting any adjustments.

Thanks