Opening Stock
Opening Stock
The quantity and worth of materials that a business has available for use or sale at the start of an accounting period is known as opening stock.
The stock that was closed out during the prior accounting period is now the stock that is opened for the current accounting period.
1. Prerequisites
- Create Warehouses.
- Link Warehouse to appropriate accounting ledgers.
2. Opening Stock for Non-serialized Items
To post opening stock visit the Stock Reconciliation page.
3. Opening Stock for Serialized and Batched Items
Prior to the event, create the Batch and Serial No records. For items that are serialized and packaged, post the opening stock:
Enter New under Stock > Stock Transactions > Stock Entry.
Under "Stock Entry Type," choose "Material Receipt."
Under "Default Target Warehouse," choose the warehouse.
Choose Item Code, Quantity, and Basic Rate from the Items table.
Choose Batch No. for items that are packaged.
Choose Serial No. for serialized products.
Publish and save.