Receiving inventory account

[pksharma]

Dear all,
We have opening balance for Receiving inventory account which is showing negative balance of 2.8 crore.since this is control account and should be zero.Can anybody please help me to solve this issue.
Thanks
Pksharma

[karthikeyanp1981]

Dear Pksharma,

Receiving Inventory Account is used when ever you make a receipt of materials stated in the purchase order. There will be two stages in the receipt, one will the Receipt, followed by Delivery ....
For Receipt Stage, the entry generated by the system is
Debit - Receiving inventory account
Credit - Inventory A/P Accrual
For Deliver Stage, the entry generated by the system is
Debit : Material account for inventory
Credit: Receiving inventory account

If the above two steps are carried out perfectly, then there will not be any balance pending in your Receiving Inventory Account ... unless otherwise same account is mapped for some other purpose ....

Regards,
Karthikeyan

[vanisri_mayya]

Hi,

If the inspection is enabled, then there may be a difference. Check it under receiving transactions.

Regards,
Vanisri

[guhanadh]

Hi Vanisiri,

I think Pk Sharma is telling that Receiving Inventory Control is Showing Negative Balance.

For Inspection is there any Account Entry is going to be created In these senarious like, if Quality Management is Impleted or Without Quality Management.

Hi Pk Sharma,

Please check Account analysis Report is there any Manual Posting.