Skip to Content
0

Year end closing Inventory

May 11, 2017 at 07:03 AM

53

avatar image

Hello All,

I am seeing some difference in physical inventory and SAP stock till 31-Mar-17

I want to know, how do I reconcile this difference.

just by goods issue and Goods receipt or any other method? Please advise.

Please also advise on financial impact.

Thanks & Regards,

Hitul

10 |10000 characters needed characters left characters exceeded
* Please Login or Register to Answer, Follow or Comment.

4 Answers

Jitin Chawla
May 11, 2017 at 08:46 AM
0

Hi,

Have you managed to figure out why there is a difference appearing in the Physical Inventory and the Inventory in the books?

Based on what the difference comes from will decide further course of action. An accountant would be a better person to take a decision as to what and where the difference should be booked.

Regards,

Jitin

Share
10 |10000 characters needed characters left characters exceeded
Hitul Varia May 15, 2017 at 08:03 AM
0

Hello,

We are not able to find the differences for some items.

What would be the next step without finding differences.

Thanks & Regards,

Hitul

Share
10 |10000 characters needed characters left characters exceeded
Nagarajan K May 15, 2017 at 12:07 PM
0

Hi,

If you post Inventory posting document based on Inventory counting, the system automatically adjust stock variance ( + Means system will increase the existing stock, - means system will decrease the stock).

Create test environment and do inventory posting and check your balances.

Regards,

Nagarajan

Share
10 |10000 characters needed characters left characters exceeded
Hitul Varia May 16, 2017 at 07:10 AM
0

Hi Nagarajan,

I didn't get you exactly.

Inventory posting document means Goods issue and Goods receipt?

Please correct me, if am wrong.

Thanks & Regards,

Hitul

Share
10 |10000 characters needed characters left characters exceeded