NOTE: This is a “linked” report in that if you click on PO# in the report, it will actually take you right to that Purchase Order in LOCATE.

The balance of the Inventory and Non-Inventory Offset accounts contain the value of received inventory that has not yet been reconciled. In other words, this is a valuation of received inventory that one still has to pay the vendors for. Once a purchase order is reconciled in LOCATE, the inventory/non-inventory offset accounts are debited for the value of inventory that was reconciled, and credited to the Accounts Payable account.

This report is great for utilizing on a regular basis to see:

  • What has been received, but not yet reconciled
  • If partial receipts have occurred
  • If partial reconciliations have occurred
  • If reconciliations without receipts have occurred