My inventory valuation report and trial balance do not match. I have no inventory in inactive items

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Sonia Connon
Sonia Connon Member Posts: 31 ✭
edited February 2017 in Accounts Hosted
I am using reckon hosted.  The inventory valuation summary and trial balance do not match.  I have no inactive items with quantities.  Which figure is correct and how do I make an adjustment to balance the inventory valuation to the GL.

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  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Connon,

    Welcome to the Reckon Community.

    Here is our checklist of why there may be differences between Inventory reports:
    1. A bill or cheque has been written to the Inventory Asset account without being associated with an inventory item.
    2. An inventory item with an asset value was made inactive.
    3. A general journal entry affecting the Inventory Asset account was recorded.
    4. When adjusting inventory, the Inventory Asset account was used as the adjustment account.
    5. Inventory adjustments are dated in the future – the reports will count adjustments inside the date range while the Chart of Accounts will count all adjustments.
    Our guide on correcting these issues is available here.

    Hope this corrects your difference.


    regards,
    John
  • Sonia Connon
    Sonia Connon Member Posts: 31 ✭
    edited October 2015
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    Awesome.  Problem resolved.  Was YE Journals that caused the issue.
    Thanks so much for your assistance :)

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Great to hear Sonia.

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