The StreamV Return to Vendor System is an on-line system, and transactions that are processed with the system are automatically recorded in the appropriate data files in the system. The RTV procedures that should be performed at the end of each period include the following.
• Review the Open Vendor Returns. On a regular basis, the Aged Pending Inventory report can be run to review the open vendor return records on your system. This process can ID returns that have not been processed by the vendor and that need to be researched or followed up on.
• Verify the activity in the Pending Subledger. The Beginning and Ending Pending valuation reports for the period and the Pending Transaction report can be used to verify the change to the Pending subledger during the month. The change to the subledger should match the total of the transactions shown on the Pending Transaction report for the month. Instructions on verifying the subledger activity for the pending, inventory and wip subledgers can be found in the documentation for the Warehouse Management System.
• Balance the Inventory Subledgers and the GL control accounts. The Aged Pending Inventory report can also be used to validate the balance in the general ledger inventory control accounts (the Pending, Inventory and WIP report totals should equal the total amount in the GL Inventory accounts at a given point in time). Please see the documentation for the Warehouse Management system for more information about reconciling the Inventory subledgers to the GL.