3 Reasons Your JD Edwards Stock Status May Not Match Your Trial Balance – Part 2

      3 Reasons Your JD Edwards Stock Status May Not Match Your Trial Balance – Part 2

      Edward Gutkowski | Chief Architect - RapidReconciler

      In last month’s article, I listed 3 reasons why your JD Edwards Stock Status report may not match your trial balance when reconciling inventory. The reasons were:

      Timing – Running the stock status at the period end must be done late on the last day of the period, with nobody processing any more transactions until the first day of the following period.

      Backdating – Manually inputting dates on transactions may change the trial balance in the prior period, while not affecting the stock status at all.

      Report Definition – Hard coding the cost method or poor data selection criteria can also lead to mismatches.

      I also stated last month that these are not the only reasons the values may not match, so let us cover some others:

      DMAAI set up – JD Edwards Distribution/Manufacturing Automatic Accounting Instruction set up is critical for accurately reflecting inventory value in the general ledger. This is by far the most complex issue to understand. Take the example diagram below:

      While the diagram does not cover ALL DMAAI tables, it gives you an idea of how transactions are mapped. An ill-placed account number in any of the tables is all it takes to cause reconciling items.

      GL class code changes – On the surface, this may seem like an innocent task, but beware! Changing a code on a location record while there is inventory on hand will NOT automatically create a journal entry to reclassify the dollars. You need to follow strict procedures to keep things in proper balance.

      So, there are 2 more reasons why a stock status report may not match the trial balance. With all of these things potentially impacting your financial statements, perhaps an automated tool to help find these issues would help. For more information on the RapidReconciler product by GSI, drop us a note. Happy reconciling!

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