Financial Gut Check Kinetic Inventory

Hunter Kingsley here. Just how reliable are your financial statements? Let’s enable you, the executive, to get the answer without any noise or spin. This little bit of Epicor Kinetic training, a Balance Sheet and access to Kinetic will take you 2 minutes to do. And you can do it over and over.

We need the Stock Status report. There are two ways to run the Stock Status report. You can pick your way through the menus or you can search for it. I recommend you pick your way through the menus just in case someone created their own version of the report. You want to run the out-of-the box stock status report, not some customized report.

Enter the period ending date corresponding with your chosen financial report. Check these five boxes and uncheck everything else. You’ll want to also make sure you select the Standard SSRS report. Then we press the print previewer report and wait a minute or two for the report.

Possible reasons for a balance issue:
1) Journal Entries
2) Unposted Transactions
3) Manually coding an invoice directly to Inventory instead of to the clearing account.
4) A conversion error when you implemented Epicor
5) A part coding error – where a part is not coded properly through a GL Control Code

When the viewer appears go to the last page. The NET VALUE should match your financial statement.

Epicor has a setting allowing for negative inventory. We’re not a fan of negative balances.
In this case Stock Status doesn’t match the financials by over $46,000.

Most of the root causes of a problem here are easily fixed requiring a few modifications of your processes.
00:00 Introduction
00:37 Marker 1
01:16 Marker 2