UT-K-G  Recalc Inventory Book Value

Purpose of Program

Use this program to recalculate the Book Value field in the inventory master record for a user-defined range of item numbers.

The Book Value field is normally added to or deducted from as inventory transactions occur.  This serves to keep the Book Value exactly synchronized with the Inventory GL account(s) specified in each item's item class so that the Book Value totals in IN-F, Print Inventory Value, tie down with the corresponding Inventory account(s) in the General Ledger.

If your Book Values are not accurate, this program can be used to recalculate them.  The unit average cost will be multiplied by the units on-hand to arrive at the new Book Value.

General Program Operation

You can limit the item numbers included in the processing range by clearing or entering an X against each inventory Type, and by entering ranges of item numbers, item classes, and GL asset accounts.  You can also specify whether inactive parts are to be included or not.

When the program finishes processing, a report is produced which shows the old Book Value, the new Book Value, and the change in Book Value.  If your GL Inventory account(s) prior to running the program was in balance with your total Book Value as shown in IN-F  Print Inventory Value, you should make a journal entry to your Inventory GL account(s) to reflect any changes made to Book Value so that they stay in balance.  This program makes no accounting entries.