Taking on inventory balances

Taking On Inventory Balances

Step 1. Add all your inventory items.

Before you can take on balances, you must first add all your inventory items via the Stock Main Form.

The preferred way is to import all your inventory items as well as the average cost price via the CSV/Excel Import form.

oImport Method: Go to Stock Items > Stock Extra > Stock & Price List Import.

oPer Supplier: Inventory items must be added per supplier, so each supplier should have its own Excel/CSV file.

Step 2. Importing your quantities from a CSV or Excel file

Important: Ensure that you have added the average cost price for each item before you add your quantities.

•Navigation: Go to Stock > Stock Take and click on Regular Stock Take.

•Create Stock Take: Click on the Create New Stock Take tab.

•Processing: After creating the Stock Take, return to the Stock Take Report and go to the Process tab.

•Import Quantities: Double-click on the Stock Take Report and click the Import Counted button on the menu. Select your Excel or CSV file and click the Import button to import the quantities to the Stock Take Report.

Manual Method:

•Adding Quantities and Average Cost: You can use the Stock > Stock Adjustment form to input your inventory opening quantities and average cost values.

•General Ledger Account: Remember to change the general ledger account from Stock Adjustment to an Opening Balance Account.

See also Stock Take