JD Edwards Inventory, In-Transit and Received Not Vouchered Reconciliation

Over 500 companies in 23 countries use RapidReconciler® to streamline their JD Edwards inventory, in-transit and received not vouchered (RNV) to the general ledger (GL) reconciliation processes.

By using RapidReconciler, companies are able to easily identify the root cause of the issue and take corrective action, thereby minimizing future occurrences. RapidReconciler works in conjunction with any release of JD Edwards EnterpriseOne or JD Edwards World applications.

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WHY RAPIDRECONCILER IS DIFFERENT

Customer Quotes

Flotek unreconciled inventory variance went from a $500,000 to less than $3,300, while the monthly reconciliation process was reduced from two weeks down
to two days.

Rusty Breaux - Sr. Accountant – Fixed Assets/ Inventory, FLOTEK INDUSTRIES, INC.

Using RapidReconciler,  we were able to reduce the time it took to reconcile inventory to the general ledger each month by 94%.

Greg Smith, Cost Analyst , AMSOIL, Inc.

We reduced our monthly reconciling time from one month down to a few hours using RapidReconciler®.

Reid Sorensen, Senior Cost Accountant, TRUCK-LITE CO., LLC

Fixing the Top 6 Issues with JD Edwards Inventory Reconciliation

Solve Your JDE Inventory Reconciliation, In-Transit and Received Not Vouchered Issues

EnterpriseOne and World

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Inventory Reconciliation

How much time is spent each month addressing these reconciling items? Problem transactions can happen at any time, even in the most disciplined of organizations. Individuals make mistakes, timing of postings can vary, systems have glitches, data may be setup incorrectly and business processes evolve.

Not having a process to control potential issues is costly in terms of wasted time performing complex research during critical periods, as well as addressing audit and compliance concerns.

By using RapidReconciler, companies can streamline their inventory reconciliation process, minimize the number of items requiring reconciliation and easily provide support for audits. Reconciliation no longer has to be limited to a month end activity. Investing minutes a day is all it takes to achieve better control of inventory and drastically reduce the time spent closing the period!

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Highlights

  • Improves inventory accuracy to 99.7%
  • Reduces reconciliation time by an average of 76.3%
  • Validates business processes and system configuration
  • Provides historical “As Of” reporting
  • Be operational in 3 days, guaranteed
  • Leverages line of credit – accurate inventory valuations

Key Features

  • Performs ‘3-Point’ Reconciliation Across Entire Supply Chain
  • Integrity Reports Identify Configuration Issues
  • Flexible Filtering by Company, Business Unit, Object Accounts and Subsidiaries
  • Export Data to Excel, PDF or Word
  • Drill Down to Transaction Details
  • Corrective Action Plans Eliminate Guesswork
  • Tools/Reports to Support Audit Process
  • Address Integrity, Procedural, Timing, System and Manual Error Issues
  • Multi-company/Multi-currency
  • In-Transit’ Functionality
  • Received No Vouchered (RNV) Functionality

In-Transit

GSI is excited to announce that RapidReconciler has been enhanced to include functionality to reconcile items in-transit. Now users will be able to expose the mystery of what items are being transferred, how many are in-route, and identify discrepancies between branch plants. Verifying in-transit account balances just became a whole lot easier!

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Key Features

  • Receipt routing not required
  • Ownership driven by DMAAI’s
  • Supports transfers at cost or with mark-up
  • Supports transfers between companies and branch plants
  • Drill down for detail transaction history
  • Integrity reports highlight configuration issues

RapidReconciler automatically detects each line item entered using the standard JD Edwards transfer process. Shipments and receipts are linked together with the appropriate in-transit quantities and amounts calculated. These amounts are then balanced to the general ledger with variances categorized for easy resolution.

All data is presented back to the users as an extension of the existing RapidReconciler interface, complete with filtering, drill down capability, and exporting to Excel. No additional applications or training sessions are required!

Received Not Vouchered

Wondering why your open receipt report does not match the GL account balance? The PO Receipts module has been added to RapidReconiler to help address this issue. Quickly find the problem purchase orders and get detailed listings of receipt and voucher transactions!

Key Features

  • Receipt and voucher listing by Purchase Order
  • Open Receipts aging report
  • Line level drill down
  • Matches receipt table F43121 to general ledger f0911
  • Add audit notes to problem transactions

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