Inventory Problem

[CrownRoyal]

My Inventory Profitability Report is accurate, but my COGS on my income statement is not. I have tried Data Verification several times, and each time it comes back with 4 errors that were supposedly corrected - but with no apparent help for this problem.

I have read all the posts about inventory problems, along with the advice to run the Inventory/Journal Synch Test. But I have not been able to find such a test anywhere! I cannot afford to pay for the data repair advertised for $450.

I also downloaded and ran Data Checker, but it found no errors.

I am using Peachtree Accounting 2004 running on Windows ME. I have only a few inventory items and I am on a cash basis for a hair salon. This is not complicated!

Any advice will be greatly appreciated!!

[Lisa_p]

Have you looked at the COGS account to see if there are any postings that are not hitting inventory items? Or maybe a general entry?

[CrownRoyal]

Thanks for your reply, Lisa!

I checked the details of the COGS account but it was very confusing due to the fact that I am on a cash basis and the COGS is only posted after Receipts have been entered. And when I enter the Receipts (by day and by tender type) the COGS account contains many, many entries for partial amounts that I have not been able to foot to Sales.

I had to generate month-end reports, so I gave up and deleted/re-entered all of my Receipts for the month, and that cleared up the problem. However, since I don't know what happened, I will always be second-guessing the accuracy of the COGS account in the future. And the Data Verification still shows that it found and corrected errors just as before! I don't know what that is all about, but it concerns me.

I am still thinking that I should run the Inventory/Journal Synch Test but I don't know how. Do you think that would be useful? Can you advise me on where to find this test?