Entering the Opening Inventory
After defining the warehouses and materials, it is time to enter the opening stock balance. This step keeps you from starting with zero quantities when you actually have goods at the start of work.
Use this invoice at the start to record the opening quantities and values of the inventory.
When Do You Use This Invoice?
Use it when you have actual stock at the beginning of the accounting period and want it to appear in the program right away, before entering new purchase and sales invoices.
What Must Be Ready Before It?
- The materials are defined.
- The warehouse is defined.
- The opening date is set correctly.
- You know the account to which the opening inventory will be posted, according to the inventory method you use.
What Do You Actually Fill In?
- The date.
- The currency, when needed.
- The warehouse.
- The materials account, if you do not use the default value.
- The materials, quantities, and prices in the table.
Common Mistakes at This Stage
- Entering the invoice with a date before the opening date.
- Entering materials that have not been defined yet.
- Using the wrong warehouse for the opening movement.
- Not paying attention to the account linked to the opening inventory.