Inventory G/L Reconciliation Report in Business Central & Navision

Freelancer Madhavi

💁Agenda of the Video▶️: To simplifying the work process on Inventory G/L (General Ledger) Reconciliation Report. This exercise is required to Match the Data of "Inventory Valuation" Report with associated Inventory "G/L" Report. --------------------- 🧑‍💻 Inventory G/L Reconciliation is the Process of comparing the Financial Data for Inventory in the General Ledger (G/L) against the Detailed Inventory Subledger to ensure they match.  ➡️This is a crucial accounting task that helps identify and correct discrepancies, ensuring the accuracy of financial statements, supporting audit readiness, and building trust in inventory data.  ➡️The process typically involves comparing inventory valuation reports with G/L reports, and discrepancies may be caused by direct G/L (General Ledger) postings or errors in inventory transactions.  ---------------------------------------

Transcript

00:00Welcome to my channel, I am freelancer Mahadvi and as you are watching this screen,

00:08Inventory Jail Reconciliation Report is open.

00:11If you know this report, open or open the system,

00:16you can easily access and open the report.

00:20You can maximize the report.

00:24If you want to send it to excel, you can send it to excel.

00:28You can also know the name of Inventory Jail Reconciliation.

00:32Inventory, which is the Jail,

00:36Inventory Account

00:39and Inventory Jail, the Jail is the Reconciliation.

00:43Inventory Account,

00:44that is the physical inventory cost posted to Jail.

00:48If you want to see Reconciliation,

00:51Inventory Account and the Jail,

00:53you can match the report.

00:55Inventory to WIP,

00:58WIP to Interim,

00:59COGS Interim,

01:01Direct Cost Applied,

01:03DCA, Overhead Applied,

01:04Inventory Adjustment,

01:05Inventory Accrual Interim,

01:06COGS,

01:07Purchase Variance.

01:08If you are using the Costing Method,

01:12you will get the Variance.

01:14Because the actual and expected difference,

01:18is the Variance.

01:19So, the Material Variance,

01:21is the Variance.

01:22When you are using the Production data,

01:25Capacity,

01:26Subcontracting data,

01:28you will get the Variance,

01:30Subcontracted Variance,

01:31Capacity,

01:32Overhead,

01:33Manufacturing.

01:34If you are using the Manufacturing and Production,

01:36then you will get the Related GLs.

01:39And, last time,

01:40you will see the total of GLs,

01:41and there will be any warnings,

01:43that you will know,

01:45that there is a mismatch.

01:46So, what is the reason?

01:47If you don't have a set-up-wise,

01:49automatic cost posting,

01:51then you have to run a batch program.

01:53Post Cost to GL.

01:55The Expected Cost Setup,

01:57which you have in the Inventory Setup,

01:58check that you have in the Inventory Setup.

01:59Check that,

02:00the physical Inventory Setup,

02:01that you have in the physical Inventory Setup,

02:03that you have set-up on or not.

02:08So, what will happen?

02:09You will get the expected things.

02:10The expected cost set-up will be in the Inventory Posting Setup.

02:14And, when you activate that setup,

02:17you can create GRN,

02:19physical Inventory Setup,

02:20you can create the physical Inventory Setup.

02:22It will be in the interim,

02:23until you don't have cost post to GL.

02:26So, you can check these two break-ups,

02:29and the expected cost set-up,

02:31you can see.

02:32You have to scroll down.

02:34And, the difference,

02:35whatever you have to do,

02:36the mapping-wise,

02:37you have to map the GL Chat-up account,

02:39you will get it.

02:41In Excel,

02:42you can map it in an easy way,

02:44because if you don't control it,

02:47you can help Excel sheet,

02:49you will open Excel,

02:51and you will get data.

02:53So, you can define your chart-up account,

02:55and you will find it in a way,

02:56and you will find it in the system.

02:58So, you can send it anywhere,

03:00wherever you want to send,

03:01you can send it in the system.

03:02So, there are these things,

03:04which will get you.

03:06What do we need to do next?

03:08We need to do simple things.

03:21And,

03:22we need to start with the data.

03:24First,

03:25the system is used to provide the report,

03:26so,

03:27the report will show you some way.

03:28And,

03:29what do you want to get the report?

03:30For the report,

03:31what do you want to do next?

03:33What do I want to do next?

03:34So,

03:35I want to give a shortcut so I will get the report.

03:37Or,

03:38I want to make the report,

03:40so,

03:41Inventory, you can use Reconciliation or Reconciliation or Inventory GL Reconciliation.

03:49Now you can use Bookmark and Report and Analysis.

03:55It will become a shortcut on the home screen.

03:59It will become a shortcut.

04:03After a shortcut on the home screen, you can easily find it.

04:11The bookmark was added to the navigation menu on your role center.

04:16The role center is your home screen.

04:18Click on this report and put a date on the system.

04:21If you put a single date on a particular single,

04:24then the date will not come.

04:27If you don't have any data on the system,

04:34then you will not get any data on the system.

04:36Click on the show matrix button.

04:38Then you will not have any data on the system.

04:40Day 1.

04:43Present date, current date, whatever you call it.

04:46That's why I said that you don't have any data on the system.

04:48Because you don't have any data on the system.

04:51So if you use this system,

04:54and you don't have any data on the system.

04:57It will not be possible to get any data on the system.

04:59So you don't get any data on the system.

05:00That's why I have a particular date on the system.

05:02Like I have an educational system.

05:03I don't have entry posts every day.

05:05So I don't have any data on this particular date.

05:07So I have a solution.

05:09I put two dots.

05:11And I told you that the data on the system.

05:14After I installed local system,

05:18and started testing data on the system,

05:21and started testing data on the system.

05:25And I don't have any filters on the system.

05:27Because there are multiple items.

05:29There are dummy data on the system.

05:30There are a sample company.

05:31There are many inbuilt items.

05:32There are many inbuilt items.

05:34So I don't have to look at a single item.

05:37I don't have to look at all of them.

05:38So I have to look at all of them.

05:40If you find a list,

05:42and put an additional filter,

05:43and you also just need to be able to find a list.

05:45To do that.

05:46By the way,

05:47the list of the state line sign.

05:49You are able to use these to use.

05:51You can use multiple inventory.

05:57Like the advanced system.

05:59So that you can use multiple inventory.

06:00You can use them.

06:01But you can use them.

06:02But if you select any item from this list, then you can take all the items from the system,

06:10which is not blocked.

06:12And the same fund has the same location,

06:17so if you don't use a warehouse,

06:19then you don't need a particular item,

06:22then you can take it with all of them.

06:24Now click on the show matrix,

06:26and you can see all the data on the system,

06:29and you can open it to excel,

06:31then you can send it to excel,

06:33then you can go to excel.

06:34Look,

06:35here you can see all the data,

06:37then you can scroll to left to right,

06:40right to left,

06:41and all the other things,

06:43if you have the report section,

06:46the request page,

06:48then if you have the warning option,

06:52then you can see what you have to do.

06:55So,

06:56see, grand total, total,

06:58Inventory GL Reconciliation,

07:01you can see that if you have the expected cost concept of inventory setup,

07:06you are running it.

07:07So,

07:08the physical inventory that you have posted,

07:10and you have the automatic cost posting,

07:12you have the automatic cost posting.

07:13So, if you have the automatic cost posting,

07:15then real-time data is not being posted,

07:19or auto-adjusted,

07:22then we have the batch program,

07:24that you have the cost to GL.

07:27So,

07:28first of all,

07:29the item is adjusted.

07:30Then,

07:31after the item is adjusted,

07:32if you have the value as entries,

07:33or item card,

07:34then we have the value as entries,

07:36then we have the cost post to GL.

07:38So,

07:39there are three steps to adjust the cost to GL.

07:42So,

07:43when you have the cost price adjust,

07:45or cost adjusted to item entries,

07:48and after the cost post to GL,

07:50you have the three steps,

07:51then you have the inventory and GL match.

07:55Inventory and GL means,

07:57the physical account,

07:59plus,

08:00connected to its background,

08:03connected to GL.

08:05So,

08:06they match both.

08:07Expected cost,

08:08when the actual cost is posted,

08:10then there is a difference,

08:11that you have the value in the expected cost time,

08:14and when you have the value in invoicing,

08:17you have the value in the invoicing.

08:19So,

08:20when the invoice is posted,

08:22then the value in invoicing will be different.

08:24So,

08:25the actual data is a difference between values entries,

08:28that you have the expected line,

08:30the guide which is presented with the content,

08:33and you are PayPal yet definet wi- Frosted.

08:35Now,

08:36it can be very differentolate and indirect conditions.

08:39And unlike the recently stated before,

08:41it will throw to an interim account and

08:43all amphoicing.

08:44So,

08:45when in a proper way it will support www.in Meteram's reduced account

08:46and the term contract.

08:47It will pay to co-host content,

08:48with a extra extension of it,

08:49whichConject is put into our collection.

08:54And the

08:57actual postressive.

08:57This link is included in the box,

08:59DCA, overhead applied, inventory adjustment

09:02or PLN accounts

09:05profit and loss accounts

09:08real data or actual data

09:11actual invoicing

09:14cost posted to GL

09:17DCA, overhead applied

09:20all balance sheets related

09:23because they follow the expected concept

09:26in the inventory setup you will get

09:29if you post a GRN

09:32or sales shipment

09:35when you ask a portion

09:38do you want to create GRN or

09:39create sales shipment

09:41that is expected cost posting

09:44so it is related to your

09:47balance sheet

09:50and the rest of the actual

09:53so when you match the cost

09:56and cost posted to GL

09:59with your physical inventory

10:01this report will work

10:02and it will match

10:03now you can check it

10:05and if there is a difference

10:06then you will find out

10:07how much difference is

10:08and why it is coming

10:10and there is a warning level

10:12so you will check the setup

10:14and you will get the setup

10:15in the inventory setup

10:17and you will get the batch program

10:19and you will find the results

10:21so you will find the IDs

10:25and view the details

10:26so you can use the value

10:27and see if your data match

10:28or not

10:29using the data

10:30and then send you to Excel

10:32so you can send data

10:33so if you send it

10:35then what will happen

10:36this will go like it

10:38but I will not send it

10:39so I will take overwrite the data

10:40so the data will need

10:41since the same data

10:42same filter

10:43then you will get the data

10:45after this

10:46you can save yourself, okay?

10:48So, this way, you can save your system.

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