Have you ever realized while running your year-end reports that the Inventory Status and Distribution reports are not matching? This can happen for a variety of reasons, so you must determine the source of the mismatch. The problem is that it can be a bit difficult to find any issues that might be causing this problem, especially if you do not discover it until the end of the year. For this reason, we suggest that you run these reports monthly if you can, to compare your Parts, Fuel and Road Material totals.
If you find any discrepancies right way, it shortens the window of opportunity for any issues and, therefore, they are much easier to locate. Some Pro Fund Accounting reports have been enhanced, and other reports have been added to simplify this process.
Below is a list of the ones that might be helpful if you ever run into this situation:
- INVENTORY CREDIT POSTING TO NONSTANDARD CREDIT ACCOUNT: This report helps you check for situations such as if you have any Road Materials that were incorrectly posted to the 110 account and/or any Parts that were incorrectly posted to the 109 account. This report only lists the Credit transactions with account errors.
- ANALYZE DATA: This report (found in the General Ledger Reports) helps you check if you have any Inventory account transactions that were posted without an Inventory Code or if you have any non-Inventory account transactions that were posted with an Inventory Code on the Credit side.
- INVENTORY LIST SORTED BY START DATE: This report lists your Inventory items and their Original Start Date. The list is sorted by the Original Start Date in reverse order, so the newest Inventory items are first.
- INVENTORY POSTINGS BEFORE START DATE: This report helps you check if you have any Inventory transactions that were posted on or before the Original Start Date of their Inventory item. These transactions are not part of the Inventory On-Hand information. You can print this report for any range of Transaction Effective Dates and Inventory Codes that you wish.
- INVENTORY CREDIT TRANSACTIONS: This report helps you check for situations, such as if any fuel was incorrectly posted to a parts account and/or if any parts were incorrectly posted to a fuel account. You will need to review the entire report carefully as it lists all Credit transactions whether or not they have account errors. The list includes the account number and sorts the list by the Inventory Type and then by the Account Number. You can print this report for any range of Transaction Effective Dates you wish. You can also limit it to specific Inventory Types, Inventory Codes, and Categories.