Account & Inventory Reconciliation version 3.2 – new features

Since the end of 2018, the module ‘Account & Inventory Reconciliation‘ offers the possibility to connect stock to the general ledger, in addition to the well-known functionality for matching / validating suspense accounts. And with great success: The validation of suspense and intercompany accounts saves a lot of time, processes are better monitored because errors at transaction level are detected – resulting in more reliable figures – and possible inventory differences are explained to the cent by ‘incorrect’ transactions, which simplifies solving the differences.

The inventory report provides a complete insight into the stock movement (purchasing, production, sales, corrections, …) and shows the logistics (“on-hand”) inventory as well as the financial inventory and the connection with the inventory account ledger at the end of the period.

The final actions are being finalized for version 3.2, which will be available soon. Version 3.2 contains – in addition to a number of minor changes – new functionality for inventory reporting and inventory integrity.

Match ledger and inventory

A number of improvements have been made in the area of ​​matching:

  • Save attachments when writing off tolerance differences
  • Support for Cycle Billing
  • Reconcile inventory transfers
  • Request details of stock transactions
  • Reconcile intercompany multi-currency transactions

Inventory reporting – ‘As-Of’ opening position

New in version 3.2 is the possibility to determine the inventory level on a specific date, both logistically and financially. This allows for the possibility to set the initial inventory level for periodic inventory reporting. This means an enormous time saving in the implementation of Account & Inventory Reconciliation: processing the entire history is no longer necessary to determine the current inventory level. The main features are:

  • Multiple calculation methods for determining starting positio
  • Suitable for ’24/7′ companies: ‘As-Of’ inventory position to be calculated during working hours
  • Logistics inventory & value and financial inventory & value (for connection with ledger)
  • Option to request results
  • Correction option
  • Interactive recalculation of ‘As-Of’ inventory position
  • Results to be used for initial balance of monthly / annual stock reporting

Inventory integrity

The new inventory integrity functionality makes it easy to validate the integrity of the stock (for quantities and value). With a great number of advantages compared to the standard validation reports:

  • Suitable for ’24/7′ companies: validate inventory during working hours
  • Full control and Update mode, run automatically
  • Multiple calculation methods
  • Option to request results (errors and warnings) instead of a long PDF
  • Correction option
  • Interactive recalculation of inventory integrity

Dozens of JD Edwards users have automated their process with Account & Inventory Reconciliation, saving not only costs but also many hours of work in the finance department! Would you like more information about this solution or be informed about the release of V3.2? Sign up via the link below.

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Cadran - Henny Berends

Advice about our solutions?

Henny Berends, Financial Directeur / Principal Consultant Finance at Cadran, would be happy to talk about the possibilities for your organization.