Tuesday, January 31, 2012

Standard Approach to Reconciling your JDEdwards Inventory Series - Part 1

Better Late Than Never?

Well folks, I realize this is long overdue.  I promised this series would start in November.  I do apologize for the delay.  I suppose it's better late than never.  So without further delay.... Standard approach to reconciling your JDEdwards inventory - part 1.

Inventory Reconciliation Overview

Typical approach is to compare GL inventory to OH value
Many companies assume the OH value is correct and plug the GL 
to tie to On Hand
Quantity & Amount Variances       
Quantity variance created when material was removed from
inventory and On Hand was not updated
Amount variance created when transactions did not hit the GL
Cardex is the Key

Cardex includes history recorded to both OH and GL
Cardex provides data required to identify quantity problems in
Cardex holds a lot of records…
JDE Inventory Integrity Process

The Process compares three tables
1.Calculate cumulative amounts and quantities based on
Cardex records
2.Compare Cardex cumulative amounts and quantities to On
Hand Quantity and Amount
3.Compare Cardex cumulative amounts to Inventory Balance
in General Ledger
Identify Variances

 The Process relies on three reports
   1.  As Of Update sums Cardex Quantities and Amounts and
        writes them to the As-Of table
   2.  Item Balance to Ledger compares the summed Cardex
        Quantities and Amounts to On Hand
   3.  Cardex to GL compares summed Cardex Amounts to the
        General Ledger
Each report generates a detailed listing of variances

This concludes part 1 of this series.  Stay tuned next week for part two.  I promise this time.  =)

Visit us at:  http://www.cjinv.com/
Email us at:  jjensen@cjinv.com


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