Use the Reconcile Parts Inventory button on the Reports menu to run a reconciliation report for the selected parts inventory source. This will identify the difference between the physical inventory and book inventory. The general ledger accounts for the inventory sources are set up on the Integrated Parts Sales Posting Parameters screen in the Accounting System Setup. If these accounts are not correct, the report will be erroneous.
Step 1. From the Dealership Accounting main menu, select Reports & DOCs. The Reports menu will open.
Step 2. Click Reconcile Parts Inventory on the Reports menu.
Step 3. Click the button that corresponds to the inventory source you want to select.
Step 4. When prompted to verify you want to scan the inventory, click OK.
Step 5. The system will scan the selected inventory and all work in process for parts to reconcile the book inventory with the physical inventory. The system will display the information on screen.
- Total Inventory Value For Source 1: This will pull the source total from the Parts module based on the number of units in the source multiplied by the cost as entered in the inventory.
- Balance Of G/L Account #: (# represents the general ledger account set up in the Parts Sales Posting Parameters screen). This is the current balance of that general ledger account in Accounting.
- Difference of Physical And Book Inventory: This represents the difference between Parts and Accounting.
- Value Of Parts On Open Counter Slips: This figure is the value of those parts sales on open counter slips recorded by the Parts department but not yet closed.
- Value Of Parts On Unposted Slips: This figure is the value of those parts sales on counter slips that have been closed in Parts and updated to Accounting, but not yet posted. (Accounting>Journal Entries>Integrated Entries)
- Value Of Parts On Open Repair Orders: This figure represents the value of parts on open repair orders recorded by the Service Department but not yet closed.
- Value Of Parts On Unposted R/O’s: This figure represents the value of parts sales on repair orders that have been closed in Service and updated to Accounting, but not yet posted. (Accounting>Journal Entries>Integrated Entries).
- Total Of Work In Process Parts: This is the total of the four value lines above.
- Total Source # Subsource # Inv Acct #: These lines are a breakdown of Subsources that make up the inventory stored in the source selected, but may reflect other accounts with balances not part of the main source account. For instance, Source 1 general ledger is 242 and the account for Source 1 – Subsource 002 is 244.
- Total Source # All Subsources: This figure totals the Subsource lines above.
- Total Account #: This figure is the inventory balance stored in the Parts source by the general ledger.
- Grand Total All Accounts: This totals all the general ledger account lines above.
- The next lines (Unposted Factory Parts Invoices, Unposted Core Return Credits, and Net Difference Of Physical And Book Inventory) are manual entry fields for the worksheet printout.
Step 6. Click Print Worksheet to print the report.
Step 7. When prompted to verify your printer is ready, select your print criteria and click Print.
|Tip: Use the Parts Audit Trails button to print a manually edited audit trail. This is the same information available on the "Manually Edited Audit Trail" report from the Inventory Data Verification menu in the Parts Inventory module.|