To match the inventory in the statement of account with the cost of inventory, you can follow these steps:
Step 1: Generate the Account Ledger Report
Go to the Accounting module.
Open the Account Ledger page or report.
Specify the Inventory account for which you want to match the inventory.
Specify the desired period for which you want to generate the report.
Select "All" in transaction status to include all transactions.
Click on the "Generate" button to generate the report.
Step 2: Generate the Stock Cost Report
Go to the Warehouse module.
Open the Stock Cost report.
Specify the warehouses that are associated with the same inventory account as in the Account Ledger report.
Select the option ▢ Show aggregate stock costs only.
Click on the "Generate" button to generate the report.
Step 3: Compare the Balances
Retrieve the inventory account balance from the Account Ledger report.
Obtain the warehouses' balance from the Stock Cost report, ensuring you consider only the relevant warehouses associated with the inventory account.
Compare the inventory account balance with the total balance of the associated warehouses in the Stock Cost report.
Verify if the balances match. If they do, it indicates that the inventory in the statement of account matches the cost of inventory. If not, there may be discrepancies that need further investigation.