You receive the error "Open layer exists in purchase receipts table where valuation method not stamped" when you run the Historical Inventory Trial Balance reset tool in Microsoft Dynamics GP

The HITB Reset tool will automatically resolve this error as long as all other errors on the IV HITB Reset Tool Validation Report are corrected.  You will want to first correct any other errors that appear on the report, and then click the Run Data Check button again. As long as all other errors are resolved, the reset tool will resolve this one for you.

For more information on how to correct the other errors received on this report, refer to the Frequently Asked Questions document on the HITB IV Reset download page. 

FAQ for the HITB Tool for Microsoft Dynamics GP 10 and Microsoft Dynamics GP 2010

https://mbs.microsoft.com/customersource/downloads/servicepacks/mdgp10_hitb.htm?printpage=false

Note If the IV HITB Reset tool does not resolve the error, then verify the following:

A. Items where the valuation method is not set in Item Maintenance will not be automatically fixed. Use this script to find those items.

select VCTNMTHD, * from IV00101 where VCTNMTHD not in (1, 2, 3, 4, 5) and ITEMTYPE <3

If the script returns results, then you will need to determined the correct valuation method and update the IV00101 table with it. The values are the following:

1 - FIFO Perpetual

2 - LIFO Perpetual

3 - Average Perpetual

4 - FIFO Periodic

5 - LIFO Periodic

B. Items that do not exist in Item Maintenance but have records in the Purchase Receipts (IV10200) table will not be automatically fixed. Since the items do not exist in the Item Master table (IV00101), the records in the IV10200 can be removed using a delete script.