Inventory Valuation

Ken Member Posts: 3
edited February 2017 in Accounts Hosted
Using Accounts Hosted. We have a value for inventory showing on our balance sheet which is over $80,000 different from the value of inventory according to the inventory valuation report. The difference is growing month by month (was only about $2,000 out at the beginning of the year).

Any suggestions as to where best to start looking for what's causing this? Would have expected Reckon to automatically keep it's subledger in line. Am I supposed to be revaluing the general ledger to agree with the inventory ledger each month?


  • Sally McIntosh, Accredited Consultant
    Sally McIntosh, Accredited Consultant Accredited Partner Posts: 475 Accredited Partner Accredited Partner
    edited February 2017

    Hi Ken,

    Yes the figures should balance.

    Firstly are you looking at the Balance Sheet on a Cash or Accrual basis? It should be Accrual.

    Secondly I would suggest looking at the setup of your items list perhaps some of the accounts aren't being allocated correctly.

    Take a close look perhaps at a particular day or week or even month to see if you can narrow down where the problem lies.

    If you need a remote appointment to help you, please feel free to email me directly.

    Kind regards,

    Sally McIntosh ([email protected])

  • Toni Jamieson
    Toni Jamieson Member Posts: 33
    edited March 2015
    Hi there Something else to consider is if any journals have been coded to your balance sheet account, coding straight to the inventory account won't be on your inventory valuation. Sometimes I come across situations where stock adjustments have been coded to the balance sheet code rather than a cog code. If you do regular stock adjustments this could count towards some of your variance. As above check how your items are set up. Good luck!