Reconcile A/P inventory transfer against A/R inventory transfer

Reconcile A/P inventory transfer against A/R inventory transfer

Inventory Reconciliation is basically designed to re-calculate average costs, re-sequence un-reconciled inventory transactions, create g/l transactions that correspond all inventory transactions, and update the cost of sales and inventory transactions and flag as reconciled.

The inventory reconciliation procedure offsets receipt transactions to the A/P Clearing account. Since invoices for the items are vouchered, so it is anticipated that these items will be distributed to an A/P clearing account. This account should match with the un-vouchred inventory cost and possibly, at the last of posting all the transactions for the month.

Reconciliation of A/P inventory transfer against A/R inventory transfer requires completing all the A/P inventory postings for a month and ensures to post the transactions for both A/R system and A/P system.

While doing it, an A/P Clearing account should be 0. If it is not so, you will have to find out if the problem is with A/P or the inventory. If there is a problem with A/P, simply make modifications to A/P and verify if the clearing account has cleared. And, if there is a problem with the inventory, then you will require fixing the transactions, and reconcile the Inventory.

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