Advanced Inventory to G/L Reconcile Report
by Solution Systems, Inc.
This report helps the accounting team reconcile Item Ledger Entries to the General Ledger in BC.
The Inventory to G/L Reconcile report has been available as a standard report within Business Central for many years and without any significant improvements. This report is one of the primary tools used by the accounting and finance team at the end of each accounting period to reconcile the detailed Item Ledger Entries to the General Ledger within Business Central.
While this report has served as an effective way to reconcile the inventory sub-ledger to the General Ledger, this new Advanced Inventory to G/L Reconcile report has been enhanced to improve the visibility to the types of expected costs and changes have been made to make the report more intuitive for users to understand.
These are the changes included in the Advanced Inventory to G/L Reconcile report:
- A new column “Purch. Returns Shipped not Invoiced” has been added to provide greater visibility to value of purchase-related expected costs.
- A new column “Sales Returns Received not Invoiced” has been added to provide greater visibility to the value of sales-related expected costs.
- A new column “WIP” has been added to provide greater visibility to the value of interim work-in-process value.
- The columns on the report have been reorganized and also have been color-coded in order to make the report easier for users to understand how the various columns relate to one another.
- The “Value not yet posted to the G/L” has been moved to the far left and colored red to indicate that not all costs are fully reflected in the General Ledger.
- The various types of expected costs are then displayed before the “Total Expected Cost” which is bolded to signify that this column is a total of the expected cost values.
- The “Invoiced Value” column has been re-labeled to “Total Actual Cost” to provide greater clarity on how this column relates to the “Total Expected Cost” column.
- The “Inventory Valuation” column has been moved to the far right side of the report and bolded to indicate that this is the grand total of value for each row and is the sum of the “Total Expected Cost” and “Total Actual Cost” columns.
- The captions of each column on the report have been color-coded to make the report easier for users to understand which columns relate to one another in terms of reconciling the report to the activity in each G/L Account.