Account & Inventory Reconciliation – Version 3.3.0 released

The JD Edwards module Account & Inventory Reconciliation (AIR) supports you with the end of month reconciliation and inventory processes. With AIR you match journal entries and inventory transactions automatically, which ensures that the balance of your suspense accounts and inventory accounts are always up-to-date.

Release 3.3.0

In July 2022 the module received a major update. Version 3.3.0 offers our customers brand new functionalities that help them to save even more time, reduce the amount of errors in accounting, and identify incorrect transactions even faster. Continue reading about the most significant new features in Version 3.3.0.

Validated for 64 bit

  • The module is now fully compatible with 64 bit JD Edwards and the latest tools releases.

Additional sequence fields added

  • Another 9 sequence fields have been added, bringing the total number of sequence fields up to 44(!), allowing users to automatically match transactions even better.

New calculation methods added

  • Besides reconciling transactions if the total amount is within the set tolerance amount, we’ve now included calculating a percentage and setting a tolerance percentage for reconciliation and validating the units of the transactions.
  • A maximum tolerance amount can now be set (and secured) to limit the allowed tolerance for all calculation methods.
  • The default batch tolerance amount can now be set on account level, making adding account to a scheduled reconciliation process even easier.
  • The default tolerance amount for manual reconciliation can now be set as default with an option to override the amount during reconciliation, allowing user to change the tolerance amount during manual reconciliation to fix exceptions.

Auditing/logging for reconciliation

  • Auditing/Logging has been added, allowing to track account activity and work with an approval process to approve the reconciled transactions.
  • Allows auditing/logging on transaction level and/or on session level, for all transactions or just for manual reconciliation. Or only log/audit only tolerance transactions.
  • Inquire on the account activity with a new application, inquiry by account responsible, by account and by approver for a quick overview of the required actions.
  • Set on account level.

Additional information

  • Inquiring on item ledger transactions has been improved to quickly find the relevant information to analyse discrepancies between item ledger and general ledger transactions.

Inventory Integrity for weighted average cost

  • Inventory Integrity support using on-line weighted average cost on cost level 2, to validate the inventory value more accurately when using weighted average cost.

Do you wish to upgrade your Account & Inventory Reconciliation to version 3.3.0 and make full use of these new features, please contact us at support@cadran.nl.

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