Inventory: Make MIP GL agree with Microix balance, How To

Inventory: Make MIP GL agree with Microix balance, How To

Assumptions:

You have followed the steps for the KB article, Inventory: Comparing MIP GL balance to Microix balance

You have observed a large Difference in the Adjusted Balance column of the Microix Ending Balance report

1. Use Microix Monthly Summary report to guide your research

   Use Microix Monthly Summary report to guide your research into why there might be a difference between Microix inventory balances and MIP inventory balances.  In Microix click Inventory > Reports > Monthly Summary and run it.  This report may help you discover the month in which a large difference happened.

2. Adjust your MIP general ledge balance with a journal entry as necessary.

   It is possible, if you know how, to create a journal entry in MIP to adjust the balance of the MIP general ledger without creating a corresponding adjustment in Microix.  You might do this to “true up” the MIP general ledger.  The “other side” of the journal entry might be to Miscellaneous Income or Miscellaneous Expense.  If you don’t know how to do this, please ask your chief accountant to contact Microix Support for assistance.