Inventory reconciliation

Use inventory reconciliation to reconcile the inventory account. When an inventory account is scheduled for the period, the ledger amount is displayed in the Ledger Amount field.

Supporting details

To provide supporting details for the ledger amount, generate either the Inventory Valuation or Period End Valuation report for the period end date.

This list shows the tabs that are available:

  • Reconciliation Details: Shows the record with period amount where you can view the Inventory Valuation or Period End Valuation report.
  • Reconciling Items: Use to create any reconciling differences for the period. Reconciling Items can be carried forward to future periods or can be created for a period range.
  • Non Inventory Journal Transactions: Shows any Global Ledger transactions that were not generated from inventory.
  • Ledger Transactions: Shows the general ledger transactions that are posted for that period. You can also create reconciling items and distributions from this tab.
  • Distributions: Use to adjust journal entries, for example, a write-off of an item and amount.
  • Comments: Optionally, provide comments.