AugTool Documentation
Stock Control Accounts
The Stock section of the daily check report is to check that the stock total balances between the stock ledger and the source documents. This is also used to see if there are any purchase invoices that have been received from incoming stock where there are no delivery notes or where there are delivery notes that have been received but there is no purchase invoices raised against them as yet. The last one is to check if there are any non inventory items that have been received but no purchase invoiced raised against the goods received vouchers.
If your stock is out of balance check the following :
Stock Total
The stock control section of the daily check report is to ensure that there are no differences or to see what still needs to be done with regards to stock.
Ledger vs Source document
This is to check that the stock total agrees between the ledger and the source documents. The following could cause the stock total to be out of balance
Journal Entry to the control account
Here the journal entry would affect the ledger but would not affect the source documents at all which would case there to be a difference between the ledger and source documents,.
To correct this the journal entry would have to be reversed out and the correction would need to be done and do the relevant entry using the source document - ie debit/credit note and not a journal entry.
Inventory to be received
This is to show where a suppliers invoice has been processed through the system but there has not been an goods received voucher.
Supplier’s invoice raised but not linked to a delivery note
If a suppliers invoice is raised before a goods received voucher is done then this will show under inventory to be received
In the daily check report under the Stock section it can be seen that there is an amount of R 20,000.00 that has been processed through a purchase invoice being captured.
Inventory to be Invoiced
This is to show where a good received voucher has been processed through the system but there has not been a purchase invoice for it as yet.
Goods Received voucher done but not linked to a supplier’s invoice
This is where a delivery note has been processed but a purchase invoice has not yet been raised.
In the daily check report under the Stock section it can be seen that there is an amount of R 20,000.00 that has been processed through a good received voucher being captured.
A suppliers invoice could be raised and a goods received voucher raised but they did not get linked to each other. This would cause amounts to reflect under inventory to be invoiced as well as inventory to be received.
You can check to see what makes up the inventory to be received by selecting the Itemised purchase report. Select the filter non/partially under State-Processed::
You can see what what makes up the inventory to be invoiced by going to the ledger and selecting the relevant account :
If you look at both accounts, you could reconcile and see if there was perhaps invoices that raised without the GRV and they both make up the amounts on the report. If this is correct, then you will need to go into both the grv and the purchase invoices and click on the override buttons. Select the contra-account and override state. please see below on how this is done.
Goods Received voucher done with no invoice
A good received invoice was done but the purchase invoice either has not been done or it was not created from the good received voucher so it shows as nothing being linked to it.
Purchase invoice raised with no linking from the delivery note
In this case a purchase invoice was done but it shows that there is no goods received voucher linked to this purchase invoice. Either there was no goods received voucher or the invoice was not linked to the purchase invoice. (Purchase invoice was not raised by going through the goods received voucher).
In this senario of where there was a goods received voucher and a purchase invoice but they were not done in the correct flow the following happened :
The Goods received voucher was done and the purchase invoice was captured. However they should have been linked but they were not. If this has happened, then they cannot be linked to each other afterwards. The way to clear these off of the daily check report is to go into each document and select the contra-account and click on the override button. It must be done on both documents.
One both the override buttons have been done the daily check report will be cleared. As can been seen below from the Stock section of the daily check report.
The entries that will reflect on the general ledger once you have clicked on the override button and selected the appropriate account are as follows :
The itemized purchase reports will also now be cleared
Journal Entry to the Control Account
Another thing that could affect the balancing of these accounts is where a journal entry is done to a control account. The ledger has been affected but the source document does not exist.
In the case below a journal entry has been done to the inventory to be invoiced control account.
The daily check report under the stock section will reflect as follows
The way to correct this would be to reverse the journal entry and process the correct entry using the source documents
Non-Inventory to be Invoiced
This section is to check where non inventory items have had a goods received voucher but a purchase invoice is still to be raised. The following would cause there to be differences
Journal Entry to the Control Account
This is where a journal entry is done straight to the control account - inventory to be invoiced.
The ledger has been affected but the source document does not exist.
The daily check report under the stock section will reflect as follows
The way to correct this would be to reverse the journal entry and process the correct entry using the source documents