If you use NetSuite OneWorld, this task opens a customizable version of the Inventory Activity Detail report. This report provides a view of specific inventory values. The report details are based on the item level total inventory value in a specific subsidiary context.

Reviewing inventory activity is a required task for the period closing checklist.

To open this task on the checklist, you must have already completed theReview Inventory Cost Accountingtask.

To review inventory activity:

1. Go toSetup > Accounting > Manage G/L > Manage Accounting Periods.

2. Click theChecklisticonfor a period.

3. Click theGo To Taskarrow icon next toReview Inventory Activity.

4. ClickReview Inventory Activities.

5. Review the Inventory Activity Detail report, filtering and customizing the report, as needed. For information about using Report Builder to customize this report, seeReport Customization

   Filter the report by subsidiary context, location, and From and To date. By default, the dates reflect the accounting period that is being closed.

   The standard report includes the following columns:

   • Item

   • Transaction Type

   • Date (of transaction)

   • Document Number

   • Description

   • Qty. (item quantity remaining)

   The report rows are grouped first by inventory activity under the Item column. For example, you have an inventory activity group for Inventory Items. When you expand the Inventory Items group, you see the #10 Envelopes subgroup. Beneath this subgroup are rows for a variety of number 10 envelopes. The last row of the subgroup provides the total of #10 Envelopes you hold in inventory.

   ClickRefreshto update the report.

6. When you have completed your inventory review, exit the report and then complete the task.