SAP Business One - Working With Audit Reports





Working with Audit Report

 

If you are using a perpetual inventory configuration, the Inventory Audit Report is one of the most important reports for inventory and production areas. You may appreciate it during year-end closing activities, auditing or whenever there is a need to get to know details or summary from inventory journal, with possibility to use wide variety of selection criteria.

 

This report is used to make comparisons between the Accounting view (Inventory accounts) and the logistics view (Inventory value displayed by the Audit Report). The report explains the value changes in Inventory accounts. Only Inventory related transactions are displayed in this report. Transactions with non-inventory items, drop-ship warehouse or Service type documents are out scope of this report.

 

Inventory Audit Report has two types:

 

·   Inventory Audit Report

·   Batches and Serials Inventory Audit Report


1. Inventory Audit Report provides an overview on inventory items. It allows an expanded view where you can drill down to individual transactions of selected items or you can use a collapsed view to display cumulative values and balances per item, warehouse or even G/L inventory account. All current valuation methods are supported and the information about valuation method can be also made available when using the expanded view.

2. Batches and Serials Inventory Audit Report is a dedicated report for items with ‘Serial/Batch Valuation Method’. The report provides inventory valuation details per individual batches or serials numbers.

 

Both reports are available in the same path. Go to SAP Business One Main menu, choose  the Inventory → Inventory Reports → Inventory Audit Report or Batches and Serials Inventory Audit Report.

 

How does Inventory Audit Report work?

 

The Inventory Audit Report – Selection Criteria windows.



You can use this report for different business requirement as given below:

 

1. If you want to track of how system calculated item cost and transaction value of a specific item, then always select the System Date option in selection criteria window. The report will display all transactions chronologically based on creation date, which can be useful when reviewing details of inventory calculations or inspecting movements in the cost price across transactions.






2. If you want to compare the G/L account balance with stock value for all or individual G/L inventory accounts for certain accounting period, then preferably select the Posting date option and all warehouses in selection criteria window. When you run the Inventory audit report by Posting Date and the posting date of transaction falls within the defined range,


but the transaction system date falls outside the range, then report displays the row for this transaction in blue color.






3. To compare the Inventory account balance with Audit Report for some selected account, select the G/L accounts checkbox in selection criteria window and select the accounts via click on browse button.






4. If you manage item cost on the company level and not for each warehouse individually, select all warehouse without selecting ‘Group by Warehouse’ checkbox to see the accurate data in report. If company manages price per company, the checkbox is not visible. This information is listed in SAP Note 1279742.

Special case – price is managed per WH but since SNB valuation method is per company, the ‘Group by Warehouse’ should not be selected. We have added this to SNB valuation How to Guide.


5. If an item has no transactions within the selected date range but has open transactions from previous period and you want to see the total of these open transaction as an opening balance of this item, then always select the checkbox ‘Display OB for Items/Accounts with no transactions’.





Once Inventory Audit Report show the transaction data, then some time text color of each transaction changes as follow

·   RED Text — If the transaction cause the cumulative quantity or the cumulative value to fall below zero, the text color of those fields is RED.
. Blue Text: — When you run the Inventory Audit Report by Posting Date then if the transaction’s system date deviates from the Posting Date range, the text color of this row is blue.

 

A sample view of Inventory Audit Report:










 




Comments

Post a Comment

Popular posts from this blog

Transaction Notifications - SAP business one

  What are Transaction notification in SAP business one Transaction notifications in SAP Business One are alerts or warnings that can be set up within the system to notify users or trigger specific actions when certain transactions or events occur. These notifications help businesses enforce internal controls, prevent errors, and ensure data accuracy. Here are some key points about transaction notifications in SAP Business One: Purpose: Transaction notifications are used to monitor and control critical business processes. They can be configured to enforce specific rules, validate data, and notify relevant users about events that require attention. Types of Notifications: There are various types of transaction notifications, including: Warning Messages: These notifications display a warning message to the user but allow the transaction to proceed. 1.Error Messages: These notifications prevent a transaction from being processed until the issue is resolved. 2.Approval Requests: Notificati
Read more

Top 3 Questions on Printing Checks for Payment in SAP Business One

Image
  SAP Business One provides some special functions for Check for Payment, ranging from the definition of a House Bank Account to printing a batch of Checks for Payment. These are the Top 3 Questions we see in SAP Business One Support about printing Checks for Payment. Question 1: How do you print Checks for Payment if the checking account is locked? SAP Business One will not allow you to print a check when another user is accessing the checking account. The Check Printing will be locked at that time. Sometimes the lock is not released, and if you try to print the Check for Payment, you will see the message ‘You cannot print checks while another user is accessing this checking account’. To release the lock, complete the following step: Under   Administration   →   Setup   →   Banking   →   House Bank Accounts , deselect   Lock Checks Printing   for the relevant bank accounts. Question 2: How can you set default print layout for your Checks for Payment? When you open the Check for Paymen
Read more

How to Import Fixed Assets Legacy Data into SAP Business One from Excel

  If you are implementing SAP Business One Fixed Assets solution and you are confused how to import the legacy data, this article will help you. A simple example will show you how to import opening balance from Excel. Business Scenario: Your company owns a car. It was acquired in September 2016 with price 600000 EUR and it is expected to be used for 10 years. This car started depreciation since September 2016 and 20000 EUR has been depreciated in year 2016. Now you would like to implement the Fixed Assets solution since year 2017 and import the value of this car into SAP Business One. What need to be done? Steps: Enable Fixed Assets solution Go to Administration -> System Initialization -> Company Details -> Basic Initialization, tick the checkbox ‘Enable Fixed Assets 2.  Define the basic parameters for Fixed Assets management Account Determination: Administration -> Setup ->Financials ->Fixed Assets -> Account Determination        Example: FA Motors (Motor Ve
Read more