Inventory Deep Dive – Reconciliation Tool
What are customers saying?
We have been using Visual since 2015. Reconciling inventory at the end of every month was a guessing game at best. Finding “issues” was usually by luck and not by any methodical process. It was also consuming a good deal of time and many times resulted in adjusting entries to tie reports to the general ledger. It was very frustrating. One of our staff had received an email about Deep Dive. I reached for information and decided to do a trial. What could it hurt, right? It was truly amazing! We quickly upgraded from the trial to the full version of Deep Dive. With the software, we have been able to go back and remove all manual entries from 2015 to present and actually fix the underlying issues. I now have the ability to drill down to the work order level to find an issue. I can give feedback to the users on processes that lead to issues. Most importantly, I can do this all in a timely manner with results! I am amazed at how quickly the software can find the issues and lead me down the path to solving the underlying issue. Many times, this can be done with the “fix button”, which takes literally seconds. If this option is not available, I can drill down to the work order and the type of issue involved and find the help to fix the issue. I am very satisfied with the results of Deep Dive and highly recommend taking a look if reconciling your inventory is a monthly source of frustration. Thanks again!!
Melissa Kelly, Controller, Timberlyne
What is Inventory Deep Dive?
Have you ever tried to reconcile your Inventory Balance Report to the General Ledger but had trouble finding the cause of the imbalance? Do you find there are lots of things to do to keep your inventory in line? Well, you are not alone. Inventory Reconciliation can be complex and sometimes time consuming. We have developed an easier and faster solution.
The Inventory Deep Dive Reconciliation application dives into the Visual database to find what has caused differences between the General Ledger and the Inventory Balance Report. Is there a problem in your general ledger? Or is it a problem with your costing layers? Not only will it create the reconciliation within seconds, it can find the records creating imbalance quickly.
Have you ever wanted to take the postings to the General Ledger by Part ID and compare the postings to Inventory Balance Report? Click one button in the Inventory Rollforward and you will see which parts are causing the inconsistences. From there you can dive into the actual transactions for those parts to see the exact transactions that are causing the differences. Just imagine. Not only will it find the differences but it will also provide you a button to fix them.
The tool provides one window (Deep Dive Summary) as scorecard for your database.
- See all General Ledger & Layer problems in a quick glance.
- Comparison of the Inventory Valuation to the Inventory Balance Report. You can even run it after month-end. Deep Dive will find the part and the transaction differences.
- Mismatches between the postings and the inventory transactions for all 5 journal types
- Instances where the Product Code has been changed, thus putting costs in the wrong inventory buckets
- Data problems and inconsistancies
Advantages of Using Inventory Deep Dive
- Focused reports to show inventory differences by specific part ID
- Save time as you can find & focus on the problems parts. It will no longer be necessary to run the Visual audit tools on your entire database (i.e. Cost Distribution and Cost Analysis Tools)
- Detailed help guides for each window
- Drill down capabilities to transactional and work order details
- Ability to send the information to Excel (our happy place)
Investment in Inventory Deep Dive
- Inventory Deep Dive is compatible from Visual Version 6 to 10 and beyond
- The tool can be used on all sites within a database
- Compatible with all versions of Microsoft Windows
I just wanted to thank you for everything that you did for me after the “wheels fell off” our database. I logged a session with you and you talked me off the edge and told me that all was going to be OK. You used a demo version of Deep Dive and explained to me where we needed to go. You developed a plan that would put things back in order. We started with the Inventory Balance Report and Inventory GL being out of balance at over $1 million dollars. We continued with a few sessions and Deep Dive and got things down to around $500. I am now $0.37 difference in with the Inventory Balance Vs GL using Deep Dive. During our sessions with Deep Dive there were issues that I did not even know existed. I currently have balances at a place that I think that a database should be. Deep Dive is teaching me so much about how Visual works and where transactions are found. Every time that we work together, I always learn something. I am looking forward to the monthly Deep Dive classes. I would highly recommend your consulting time and Deep Dive to anyone that uses Visual. Even if you think your database has no problems, it is worth it to take a double look at your data.
Judy Benjamin, Controller, Penn-Troy Manufacturing, Inc.
“Can I just say how much I love Deep Dive!!! I haven’t even been able to dive that deep yet with month end/year end duties, but it has already been a tremendous help. By far favorite so far is Rollback and Inventory Balance vs G/L. Oh, and the Product Code Changes! Saved me so much time. I can’t even express the words. So, thank you:) Very happy Customer!”
Diane McMillin, Controller, Abrasive Technology
“Firstly, DeepDive is simply wonderful. I’ve been working through inventory reconciliation on all 3 businesses and I would never have been able to get to the point where I am at. It’s amazing at identifying the needles in the haystack.”
Brendan Thompson, Phoenix Electrotek
“With the reconciliation tool, I was able to find my lost inventory from earlier this year and it’s helping me keep the inventory on track. As of my last posting, I’m off by $11.86, and I know why!”
Vicky Turgeon, Controller, Mitotec Precision