Click this button to post inventory reconciliations for the specified locations and dates.
Enter the date to use for the adjustment transaction, or choose it from the calendar that appears when you click the calendar button next to the Date field. Inventory Control automatically displays the session date.
Type an optional description up to 60 characters long, such as comments you want to appear on reports (optional).
The description appears on the Adjustments Posting Journal and can appear on the G/L Transactions report (if you select it for the G/L Entry Description, Detail Description, Detail Reference, or Detail Comment field on the Transactions tab of the G/L Integration screen, and you do not consolidate general ledger transactions).
Enter beginning and ending codes or use the Finder to select beginning and ending codes in the range of locations for which you want to post reconciliation adjustments.
Enter the posting date for the transaction in addition to the document date.
The posting date is the date for transactions being posted to the General Ledger, so it also determines the contents of the Fiscal Year and Period fields.
If you have a multicurrency system, currency revaluation also uses posting dates to select open documents for revaluation purposes and, thus, revaluation adjustments are posted to General Ledger in the correct fiscal year and period.
Depending on your settings in the I/C Options screen, Inventory Control automatically displays the session date or the document date by default in this field.
You can change the posting date, but you cannot separately change the fiscal year and period.
Note: If you consolidate G/L transactions, the posting date for consolidated entries is the last date of the fiscal period.
Enter a reconciliation number of up to 22 numerals and upper-case letters to distinguish the reconciliation from other adjustment transactions on the Adjustments Posting Journal.
Note: Reconciliation numbers do not have to be unique.
Enter an optional reference up to 60 characters long, such as the reason for adjusting the quantities.
The reference appears on the Adjustments Posting Journal and can appear on the G/L Transactions report (if you select it for the G/L Entry Description, Detail Description, Detail Reference, or Detail Comment field on the Transactions tab of the G/L Integration screen, and you do not consolidate general ledger transactions).
This is the fiscal year and period to which the inventory reconciliation adjustments will be posted in the general ledger.
Inventory Control automatically displays the fiscal year and period for the date that you enter in the Posting Date field.
You can only change the fiscal period by changing the posting date.
Overview
Use the I/C Post Inventory Reconciliation screen to post inventory counts and costs that you entered in the I/C Physical Inventory Quantities screen or the I/C Inventory Counts screen.
When you post an inventory reconciliation, adjustment transactions are created for any discrepancies between your physical inventory count and the figures calculated by Inventory Control.
Note: When you post an inventory reconciliation for which an adjustment number already exists, the Inventory Worksheet will create separate adjustments for every hundred items, and append "1", "2", "3", etc. to the end of the document number.
FIFO/LIFO Costed Items
For items that use the FIFO or LIFO costing method, the item's offset bucket is adjusted for inventory reconciliation transactions.