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Kimberly Kohlhepp, SBS Group

Historical Inventory Trial Balance – Obtain a TRUE Inventory Balance in Dynamics GP


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Attention all Inventory Managers!  Microsoft Dynamics GP has made it easier than ever to determine your current inventory balance with the Historical Inventory Trial Balance (HITB) module.  Reconcile, create clearing transactions and run validation reports all within the historical inventory trial balance module. Now, the HITB report can be used to reconcile General Ledger (GL) any time of the month.

Gone are the days of remembering to print the Stock Status at month end and remembering that not all transactions make it into the Historical Stock Status.

The Historical Inventory Trial Balance report provides a current and historical value of your inventory items.  It lists quantity balances by each of the five quantity types (On Hand, Returned, In Service, In Use, and Damaged) and inventory values at a certain point in time or for a designated date range.  You can use this report as the basis for balancing your inventory with the appropriate accounts in General Ledger.  You can run the report for a single GL account or run the report without any restrictions to reconcile the entire current inventory value.

In order to utilize the Dynamics GP’s Historical Inventory Trial Balance, the following items must be performed:

  • While not required, you should perform an inventory stock count to be confident that you are working with accurate quantities
  • Post all un-posted inventory related batches
  • Install HITB on server and each workstation
  • Run the IV reset tool to calculate the appropriate starting inventory amounts.  This process will not affect current inventory quantities but it will post a journal entry to account for differences between the inventory value and general ledger.

 Contact SBS Group or email [email protected] to learn more about the Historical Inventory Trial Balance module.  It is available in Dynamics GP 10.0 w/ Service Pack 2 and more recent versions.

 By: SBS Group – New Jersey Microsoft Dynamics GP Partner

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