Distribution, Manufacturing, and Internet Modules

[infotech]

Is there any way to verify the data in the Inventory Valuation by Period is accurate? It seems like a legacy report that isn't even built in Crystal.

Thanks!

[Heather]

I do not use that report.  I have been under the impression that it isn't very reliable. 

I just ran it for a couple different periods & compared it to the standard valuation reports that I ran for period end.  In both cases, this report gave a valuation lower than my archived report -- one by about 0.5% and the other by 4%.

[SueDunn]

Do you run the Trial Balance Report in the Inventory module?

[infotech]

No, I've never ran the trial balance. How does that one work?

Thanks!

[BigLouie]

---

infotech wrote:

No, I've never ran the trial balance. How does that one work?

Thanks!

---

Oh my stars and garters! Never run the trial balance? How does that one work? I think you are in some serious need of training from your MAS reseller plus a long talk with your CPA and/or controller. And as to your question about the valuation by period. That report has been broken for some time. It's results cannot be trusted. It might be close but should never be used for any type of financial reporting.

[infotech]

Well, heres the thing. I get tasked with finding solutions to things that are handed to me, but I'm not an accountant. They tell me what we need and I come to this place or our reseller to help me out. I like coming here first so I don't have to bother her with smaller tasks.

I'm sure the trial balance has been run at our company, but I haven't run it and don't know exactly what it is. If I understand what it is and does than I can know if it's what we need.

[Heather]

The trial balance report is on the same menu as the valuation by period report.  It's the report you should be using to reconcile IM with GL.  In theory, they should match, although mine never do.  In my case the discrepancy tends to be somewhere in the $1.50 range, so I don't worry about it.

I assumed you were asking about the 'by period' report because you wanted the inventory value for some point in the past.  You can't get that with either the trial balance or the standard valuation report -- you are limited to running these for the current period. 

If you want access to historical inventory values, I think your best bet is to get in the habit of running the trial balance or valuation report on a regular schedule and keeping it for future reference.

Message Edited by Heather on 02-19-2009 08:34 AM

[BigLouie]

---

infotech wrote:

Well, heres the thing. I get tasked with finding solutions to things that are handed to me, but I'm not an accountant.

---

OK we are getting somewhere now. What is the task/solution that has been handed to you. If we know that then we could give you a better answer.

[infotech]

We are trying to reconcile our Inventory with the GL (like Heather was saying) and we need to run the Inventory Valuation report as of 12/31/2008. Our reseller recommended the Inventory Valuation Report by Period. We ran that and the auditors came back saying we are off upwards of $200k (we're a small business). That led the powers that be to question the accuracty of teh report. I couldn't say for certian due to the nature of that paticular report.

So, to sum all of this up they need an accruate Historical Inventory Valuation report.

Thanks for answering the quetion about the Inventory Valuation by Period report. I'm surprised it's a bad report and still in the program.

FYI, I have been through MAS90 training for Crystal Reports... but that's it.

[BigLouie]

First, most companies make a copy of the live company at years end for just such a task. Second you should always use the Trial Balance report to when attempting to tie to the GL. Never use the Inventory Valuation report.  Your only other option is to use Access and extract the IM5, remove all transactions after 12/31/2008 and then write a Crystal report based on this table. This should give you a very very close figure. I would not run the report against MAS as it will take F-O-R-E-V-E-R.