What is the HITB report?
Dynamics GP has a great built in tool for reconciling your General Ledger Inventory accounts to the subledger called the Historical Inventory Trial Balance (HITB) report. This report runs off a very specific set of tables (SEE. Tables) which was added to GP in version 10. Every time a transaction is posted that either increases or decreases the inventory balance, by site, the quantities and costs associated are stored in one or several of the SEE tables.
If you have never run the HITB Reset tool, it is possible that this report will not reconcile to your general ledger because transactions and/or Balance Brought Forward, prior to the SEE tables creation, might be missing. Other considerations should be researched to ensure that potential variances are a result of missing data from SEE tables before considering a HITB reset.
Completing the HITB Reset not only will repopulate the SEE tables with the current GP Inventory balances and costs, it will create adjusting entries to be posted in the GL to bring the two pieces into reconciliation. The end result will be a HITB report with a summary Balance Brought Forward line as of the date you run the HITB and GL distributions to adjust the Inventory GL accounts to match the correct quantities. Going forward, each increase or decrease to the inventory will be recorded in the SEE table and will be reported for reconciliation.
Running the HITB Report
You can find the HITB Report in Inventory >> Reports >> Activity >> Historical Aged Trial Balance
To use this report to reconcile, you will:
- Choose a sort By: option
- Use GL Posting Date
- Choose site range to report on
- Add necessary Criteria
- Item Number
- Account Number
- Qty Type
- Generally From 00/00/0000 To ‘Date you want to reconcile to’
- Generic Description
- Item Class
- If you do not add any criteria, your report will be real time and show you the current item quantities and costs.
The report will the show you the quantities and costs of each receipt line for each item if you ran the report in Detail. The bottom of the report will show you the total value of your inventory which should reconcile to the GL inventory accounts.
If you have multiple inventory accounts, you need to add these together, or restrict the report to only include the items with GL accounts you wish to reconcile.
Running the HITB Reset tool
Running the HITB reset tool can be an involved process but necessary to accurately reflect the quantity on hand in a way that matches the General Ledger. It is highly recommended to run the reset in a test company to fully understand the affects on the GL and inventory data prior to running in production. The steps are as follows:
- Download the HITB reset tool that matches the version of GP you are currently running
- Customer Source Download – Historical Inventory Trial Balance Inventory Reset Tool for Microsoft Dynamics GP
- Install the HITB reset tool on a workstation with Dynamics GP.
- You will need to create a stored procedure within the Company database in SQL
- The script to create the stored procedure is included with the download.
- Launch GP and log into the company you wish to apply the HITB Reset
- To start the reset, go to Inventory >> Utilities >> HITB IV Reset Tool
Step 1: Run Reconciles
If Project Accounting is installed, you will need to Reconcile that as well.
Step 2 – Run Data Checks
Running the Data Checks will utilize the stored procedure you installed in SQL. A report will be generated that might include some errors. These errors need to be resolved before you can continue. Encore can help resolve any errors you might find on the report.
Step 3 – Populate Tables
This step will give you a report of the variances to be considered throughout the HITB reset process. It is important to retain this report.
Step 4 – GL Clearing
You will need to assign an offset account to clear the inventory accounts to.
Step 5 – GL Transactions and HITB Records
Use the same account to clear back into the inventory accounts.
Step 6 – Finalize IV Reset
Now that the HITB Reset is complete, you will find that running the HITB report will give you Balance Brought Forward for each item and the total will foot to the GL. As you progress with transaction entries, you will build the SEE tables with the transaction detail line items to continue to reconcile going forward.
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