GL overvalued vs physical inventory at year end. I believe it's being caused by a lot of Receipt Adjustments that don't have a location showing in them. Is anyone else having/had this problem? What causes Receipt Adjustments and why do they overvalue the GL report? When I use ODBC and fill in the location the GL valuation adjusts accordingly but without the location it is overvalued. I can't figure out what step in the work process is creating the receipt adjustment.