As you may have read in my previous post, Microsoft Dynamics GP has finally released a Historical Inventory Trial Balance. Now that several months have passed and we have been working with this report more and more, I wanted to share with you some of the things that we have learned.
Most Important:
It’s proving to be a reliable report to reconcile to GL. While this is a new report, and it may take some work to get it set correctly for those who installed versions of Dynamics GP earlier than V10 SP2, it’s tracking to be a solid resource just like the AP and AR Historical Trial Balances.
Before you Start:
- Dynamics GP must be V10 SP2 or higher;
- Get confirmation from ISV’s that third party products are compatible with HITB;
- Create a Test Company and be prepared to take some time to work through the Reset process, so you know what you’re up against.
What to Know before you run the Reset:
- There is a Historical Inventory Trial Balance Report document that details the Reset process;
- All batches need to be posted prior to running the Reset;
- If you’ve been on versions earlier than V10 SP2, you will most likely need help from your Dynamics Partner;
- Microsoft Support is actually very good at helping to get through this process;
- The HITB Report will reflect all transactions from the date of Reset and going forward.
What you need to know when you’re done:
- Once Reset is done, if you need to post transactions to a prior period, they will show up in the report;
- The Stock Status (most reliable Inventory report) may not match HITB. Two reasons for this are detailed below – there may be more:
- HITB reflects All 5 qty types
- HITB reflects revaluations (all negative cost adjustments) whereas stock status simply takes the qty remaining on each receipt layer and multiplies it by the adjusted unit cost
Errors and Tables:
HITB populates Tables that begin with SEE
Most common errors during Reset process:
- “Receipt Qty’s do not match IV Qty’s”
- “Average Item receipt QTY on hand does not equal IV Qty on hand”
Tables that need attention because of HITB errors:
- Purchase Receipt Work
- Purchase Receipt Detail
- Item Qty Master
- Qty Site Master
What has your experience been with this report? How have you benefited from it? Do you have any suggestions? Questions? We would love to hear from you.
