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Monday, October 21 • 1:00pm - 5:00pm
Optional Training - Inventory Reconciliation

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Does the inventory detail on your item cards agree with your General ledger totals? Are you mystified at the end of each month why it doesn’t agree and don’t even know where to start with reconciling your inventory? This class is to gain an understanding of inventory and how transactions affect the general ledger in order for you to correct transactions so you can bring the inventory subsidiary ledger into balance with the general ledger. We will review this down to the posting setup and the T account level in order to understand how NAV thinks as it is processing inventory transactions. The goal of the class is for you to walk away with tools that give you the ability to build a reconciliation spreadsheet in order to reconcile your inventory subsidiary ledger to the general ledger and understand why you might be out of balance. We will develop a step by step process so you can identify which items are affecting your out of balance report and look at steps to correct these errors in order to bring the subsidiary ledger into balance with the general ledger. An example of an Excel reconciliation spreadsheet template will be provided. Areas we will review: Posting Groups Item Cards Adjust costs to GL Post costs to GL Manufacturing WIP General ledger entries T account the purchase order process, manufacturing, kit assembly, transfer orders and inventory to GL process.

Monday October 21, 2013 1:00pm - 5:00pm

Attendees (2)