If you are one of the many who are generally confused on your perpetual inventory balance in Dynamics GP, have no fear…HITB is here!! Since the release of Dynamics GP 10.0 service pack 2, customers now have accessibility to the Historical Inventory Trial Balance (HITB) module. Although the Stock Status and Historical Stock Status reports are informative in their own right, you could never tie back to the General Ledger. Microsoft heard our call and released the HITB report!!

OK fine, so what are you getting exactly with this new module? Well the Historical Inventory Trial Balance report lists quantity balances and inventory values at a certain point in time and by quantity type (On Hand, Returned, In Service, In Use, and Damaged). You can use this report to balance your inventory value with the appropriate account in your General Ledger. Reconcile, create clearing transactions and run validation reports all within the Historical Inventory Trial Balance module. You can also run the report for a single GL account or run the report without any restrictions to reconcile the entire current inventory value.

So how do you get this up and running in your organization? Well, The HITB report is available after you’ve completed the following tasks:

• Download and install Service Pack 2 or the most recent hotfix for Microsoft Dynamics® GP Release 10.0. See the Service Pack, Hotfix, and Compliance Update Patch Releases for Microsoft Dynamics GP 10.0 Web site:

(https://mbs.microsoft.com/customersource/downloads/servicepacks/mdgp10_patchreleases.htm?printpage=false) for the latest hotfix.

• Use the HITB Inventory Reset Tool to establish beginning balances based on your current inventory quantity for the appropriate accounts in General Ledger and to create beginning balance records for those items in the Historical Inventory Trial Balance table (SEE30303 table).

The purpose of the HITB Inventory Reset Tool is to create a starting point where General Ledger and Inventory Control balance. The HITB Inventory Reset Tool does not affect the on-hand quantities or process transactions that affect inventory quantities. The tool captures and records currency amounts from each purchase receipt that is available for consumption (use). The currency amounts must be recorded in General Ledger to clearly define a starting point where General Ledger and Inventory Control balance.

In addition to these prerequisites, we suggest that a physical inventory count be completed so you are confident in your quantities and post all inventory related batches before you run the reset tool.

So there you have it, a very useful reporting option that Inventory Managers and Controllers/Accounting Managers will undoubtedly welcome with open arms.