Historical Inventory Trial Balance Report

Historical Inventory Trial Balance Report

Microsoft Dynamics GP recently came out with a new feature that would provide GP users that are utilizing the Inventory Module the ability to create a Historical Inventory Trial Balance report. It goes without saying that any company maintaining an inventory has had reconciliation issues between the valuation in the Inventory Module and the General Ledger control account or accounts. The HITB features will allow the following:

• The Historical Inventory Trial Balance report enables users to tie the Inventory Sub-ledger to the General Ledger, regardless of Inventory Valuation Method.

• This report will show the inventory value as of a specific date or date range, and the value of the five different quantity types (On Hand, In Use, Returned, In Service and Damaged). Keep in mind that the HITB report will only report on inventory balances from the installation date forward. So if you want to use it in the future, install it as soon as you can.

• To utilize the HITB Report, existing customers will need to apply Dynamics GP 10.0 SP2 and run a wizard-driven IV HITB Reset Tool. The IV HITB Reset tool and the Historical Inventory Trial Balance Report are both components of Dynamics GP 10.0 SP2. The wizard-driven IV HITB Reset Tool and the initial reconciliation is complex, and you may want help with this from your Microsoft Dynamics GP VAR.

• New Customers who begin utilizing Dynamics GP 10.0 after SP2 releases or existing customers who create new companies AFTER SP2 has been applied, will not have to run the HITB IV Reset Tool. They will be able to utilize the Historical Inventory Trial Balance report immediately. If you had inventory prior to SP2, you must run the wizard.

You can obtain more information about the HITB and the install utility at:
CustomerSource
https://mbs.microsoft.com/customersource/downloads/servicepacks/mdgp10_hitb.htm?printpage=false