Monthly Parts Reconcilation Report

[Richard]

I now have to Reconcile my 242 Parts Inventory Acct each month. I know that once an RO or Parts Ticket is closed, it is in BATCH status. Am I safe just to take the batch figures, and apply that as an Add-On, since my service manager won't allow a service cutoff on the last day of the month (he wants to try to cram extra stuff in the next morning, which I don't believe actually works). Here is the information I am getting, and the sources for each, hope it doesn't come out too scrambled.

Monthly Parts Inventory Reconciliation Report

oMonth ____ Year ____

oSystem Generated Inventory Value (GM Only)$_________
Obtained from DMS at close of business, after Parts and Service Batches are applied and as many invoices posted to Accounting as possible.
oCore Returns In Process (Cores sent, but not Credited)$_________
Obtained from GM Credit Log, and from AC-Delco vendor credit pending file.
oMRs In Process (Parts Sent, but not credited)$_________
Obtained from GM Credit Log.
o659s In Process (Damage and shortage/overages)$_________
Obtained from GM Credit Log.
oWork In Process (Service and Body Shop ROs)$_________
Obtained from DMS at same point as System Generated Inventory Value.
oDirty Cores (Cores Waiting to be Returned for credit)$_________
Must be counted manually.
oMiscellaneous Parts (Other than GM)$_________
Hardware, and Misc. (Use KR, and OT stocking groups Counter Pad amounts)
oGM Packing Slips Pending (Received, but not invoiced)$<_____>
Face Value Cost, manually costed.
oGM Invoices (Invoiced, but Parts not received Yet)$_________
Cost, manually accounted *Rare.
oOutside Purchases (Parts Sold, but not enter in acct yet)$_________
Must be manually counted.
oAdd Ons $_________
Any Credit, or Parts not otherwise listed.
oPending Batches (ROs and Parts Inv Closed, but not applied)$________
Pulled from Batch Edit Sheets the next day after a cutoff.

oAdjusted Inventory Balance$_________
All above lines combined.

oGeneral Ledger Balance (Acct 242)$_________
Obtained from DMS at the same time as the System Generated inventory Value.
oAppreciation/Depreciation (Price Tape Update)$_________
Obtained from DMS hold file when Price Tape is applied (Monthly)
oAdjusted General Ledger Balance$_________
General Ledger Balance and Appreciation/Depreciation combined.

oDifference$_________
Adjusted Inventory Balance versus Adjusted General Ledger Balance.


Parts Manager ________________________ Date __/__/__

Office Manager _______________________ Date __/__/__

Dealer _______________________________ Date __/__/__

[TMScott]

Richard,

Yes, you are correct when a service order or a parts invoice is closed and the daily cutoff is run the information is placed into a PR (Parts) or SM (Service) batch and is then on the accounting side. Before accounting applies those batches there is an edit list that will list all the transactions in the batch. Once this information is then applied to the GL accounting can run off a listing of your accounts.

So, it's safe to take those numbers to reconcile your accounts.

Hope this answers your question if you have any further questions please let me know.


Thanks,

Tina M. Scott
EDS/Product Manager