Depending on the inventory valuation method or methods you are using, it may be important to do an inventory close at the end of the month before you actually run the inventory valuation report do to your reconciliation. If you use a strictly standard cost for inventory valuation, then the inventory close process is not required. If you’re using any other valuation method or a combination of valuation methods in your business, then you need to perform that inventory close before we start a reconciliation process. Inventory close is what updates the cost records from a financial perspective or settles those costs records at the end of the month so that we have an up to date cost of goods sold and inventory valuation value after that inventory close is processed.
In this whitepaper, Microsoft MVP and I.B.I.S. Senior Consultant, Frank Hamelly will walk you through two major components of the Dynamics AX inventory reconciliation capabilities to make closing out your month an easier, more effective process. Read the paper to learn how to:
- Create inventory valuation reports
- Investigate discrepancies