Reconcile Report

Reconcile Report

Reconcile Report

The Reconcile Report is the most important report in PalletWatch as it lets you know if you have gained or lost equipment.  The Reconcile Report can be run at any time and should be run at least monthly.
The report can be run from the Reports menu.

The key figure is the Surplus or Loss which is displayed at the bottom of the Summary tab.  This is what is known as the Variance and it lets you know if you have a loss or a gain - this dependent on all the figures in the report being accurate.

There are a number of different levels of reporting and this can be selected from the "Type" field.  You will see below that PalletWatch defaults to the Site type.  The options are:
  • Site - This lets you run the report for a particular site.
  • Account Level - consolidated report for all of your sites.
  • Sites - Zip - provides a zip file showing reconciliation reports for each of your sites.


The different elements of the Reconcile Report are described below.

Invoice

You should check that the date of the invoice is the invoice you would like to report on.  The Auto Match % is the percentage of the number of transactions which have automatically matched when the file is first imported.  95% or greater is a target that pallet controllers should be working towards.

Stocktake

Stocktakes should be conducted as close as possible to the invoice date.  Whilst this is ideal it is not essential as PalletWatch will adjust the count to bring it in line with the invoice date.  This can be seen as "Updated Count".  The transactions which occur between the stocktake date and the invoice date can be seen in detail in the "Stocktake Adjustment" tab.

Owed Equipment

A summary of owed equipment is displayed on the "Owed Equipment" tab.  For more detailed information you can run the Owed Equipment Summary Report and/or the Owed Equipment Report.

Invoice Closing Balance

It is important that the Invoice Closing Balance figure is correct.  This is done under the Invoice Checkoff which can be found under Invoices in the main menu.

Uninvoiced Ons

Uninvoiced ons can be found in the Transfer Ons - Aged tab and the On tab.  It is important to check uninvoiced ons as you may find duplications or dockets that should have been entered as transfer ons when they should have been transfer offs.  If you see a date in the Invoice Date column then it means that the docket was invoiced on a later invoice than the date you have run the report for.  You should also not expect to see a figure in the Issues column as they would normally all have been invoiced.

Uninvoiced Offs

Uninvoiced offs can be found in the Transfer Offs - Aged tab and the Off tab.  It is important to check uninvoiced offs as equipment can be lost if these are not processed in a timely manner.   If you see a date in the Invoice Date column then it means that the docket was invoiced on a later invoice than the date you have run the report for.  There could be a number of reasons why a transfer off is not processed.  Some of these are:
  • Receiver declare accounts - there are a small number of trading partners who have an agreement with the pallet hire companies so that transfers on to their account will only be processed if notified by them.  You may need to send them copies of your signed pallet transfer dockets if they appear as uninvoiced.
  • Keying errors.
  • Trading partner account can have been put on hold by the pallet hire company.
  • Exports from PalletWatch may not have been received or processed by the hire company.  See Exports for more information,

Variance

The variance (Surplus or Loss) is automatically calculated as follows:

Updated Count + Owed By Others - Owed To Others  =  Total Physical Equipment

Minus

Invoice Closing Balance + Uninvoiced Ons - (Uninvoiced Offs + Credit}

= Surplus or Loss










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