Hi,
I’m trying to reconcile the inventory value against the general ledger.
I’m using the “Inventory Value per Period” page.
Upon closer examination of the "In transit Qty" and how postings are carried out in the general ledger, I have come to suspect that we might have an incorrect setup?
In the scenario of inventory transfers between different sites, I've noticed that the transactions do not completely clear account “1433-Stock movements”. Consequently, there remains a balance on this account which is not intended.
Our accounting method employs the weighted average cost approach. It appears that when there's already a quantity of a particular item on a site, the system calculates a new weighted average cost prior to fully clearing the account 1433. This discrepancy is causing the account to maintain a balance, whereas I had anticipated it to be zero if the process was executed correctly.
To provide more context, here's a breakdown of the inventory transaction history:
Additionally, for reference, here are the corresponding GL transactions. My objective is to ensure that account 1433 is brought to a zero balance:
Thank you for your attention to this matter. Your assistance in resolving this discrepancy would be greatly appreciated.
I’m using IFS Cloud Web version: 22.2.8
Best answer by Thomas Peterson
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