V9 - Reconcile item receipts tool

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The Reconcile item receipts report (Operations > Reports > Accounting > Reconcile item receipts) will provide the date and value of an item receipt in SOS Inventory in comparison to the corresponding bill or purchase expense in QuickBooks. 

 

This report can highlight:

• Situations in which SOS Inventory created a bill or purchase expense in QuickBooks and a user changed or deleted the bill or purchase expense in QuickBooks, creating a mismatch between the valuation in SOS Inventory and the asset accounts in QuickBooks.
   

• Situations in which SOS Inventory created a bill or purchase expense in QuickBooks and a user changed the date of the bill or purchase expense in QuickBooks, creating a temporary valuation mismatch between SOS Inventory and QuickBooks, between the date of the item receipt and the date of the bill or purchase expense.

 

To run the report:

• Under the Filters section:
  • Choose the From and To dates. The From date is the reconciliation date that you found in Summary of the reconciliation process. The To date is either Today or the closing date of the reconciliation period. 
  • Choose All for the Payment type.
• Under the Retrieve your report section, select Display report.
   

Understanding the color coding in the Reconcile item receipts report

• Blue highlights. 

  • A blue highlight may indicate that SOS Inventory did not post a transaction to QuickBooks for the corresponding transaction.

    • Go to the Item receipts list, edit the item receipt to ensure the Accounting transaction type is not None. Then save and sync. 

    • Another reason could be the item receipt has a sync error. Go to Sync > Bills or Sync > Purchases to find that item receipt and correct the sync error. Then save and sync.

    • You may also click on Add to queue in the Re-sync column in the Reconcile item receipts report. This will add the item receipt transaction to the Sync queue and attempt to clear the error.
       

  • A blue highlight may also be the result of a sync error on the transaction. You may see a resolved journal entry listed on the row, yet still have the blue highlight. Use the transaction Ref # to look at the appropriate list and determine whether a sync error exists. If so, correct the error and resave the transaction to add to the Sync queue.
     

• Green highlights. Green highlights indicate that the line item on the transaction cannot be found on the bill or purchase expense posted to QuickBooks.  This can occur if the line item was removed from the bill or purchase expense in QuickBooks, or if the item name has changed. 

  • If the name has changed, this can be ignored. 

  • If not due to a name change, go to the Item receipts list, edit the item receipt to ensure the correct Accounting transaction type is not None. Then save and sync.

  • You may also click on Add to queue in the Re-sync column in the Reconcile item receipts report. This will add the item receipt transaction to the Sync queue and attempt to clear the error.
     

• Red highlights. Red highlights indicate that the value of the line item on the transaction was changed in QuickBooks after SOS Inventory posted the bill or purchase expense to QuickBooks.  When a red highlight is observed, it is important to determine which is the correct amount for the item—the amount in SOS Inventory or the amount in QuickBooks.  In either circumstance, the numbers should be corrected to match. 
   

  edit_infoNOTE: As the algorithm to compare transactions looks for the item name within the lines on the QuickBooks bill or purchase expense, it can sometimes indicate a false mismatch. This occurs when an item on the SOS Inventory transaction is listed in multiple rows of the item receipt. If you have added these item receipts to the queue, synced, and the mismatch still remains, this is most likely the reason.

  • If SOS Inventory reflects the correct costs for the items, edit and save the item receipt (without making any changes). Then sync so the bill will be updated in QuickBooks. 

  • If QuickBooks reflects the correct costs for the items, edit and save the item receipt in SOS Inventory to match the costs reflected in QuickBooks. 

     
    edit_infoNOTE: In this circumstance, you may not want the bill in QuickBooks to be updated—especially if you have added line items for other expenses, taxes, etc. If this is the case, after saving the item receipt, click on the Sync menu icon, choose Preview Sync, and remove the Modify bill or Modify purchase expense associated with the resave of the item receipt.
     

  • You may also click on Add to queue in the Re-sync column in the Reconcile item receipts report. This will add the item receipt transaction to the Sync queue and attempt to clear the error.