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How do I bring in opening stock at go-live?

Enter opening stock on Inventory Adjustment, one document per warehouse, with an adding movement whose offset is the opening balance account, dated the day before go-live.

Screen
Inventory › Item Adjustment › Inventory Adjustment
Who
The implementation consultant, the inventory controller
Takes effect
On Save
Needs first
Inventory set up; an adding adjustment movement with its accounts

Before you start​

  • Set up Inventory is done.
  • The posting profile sends the opening movement's offset to the opening balance (or suspense) account.
  • The count per warehouse, batch, expiry and cost is ready.

Steps​

  1. Open Inventory Adjustment and press New.
  2. Fill Posting Date (the day before go-live), Transaction Journal, Site and Warehouse, then Create.
  3. Add one line per item and batch. Movement: the adding movement. Item No, Movement Unit, Movement Quantity, Cost Price (the unit cost), Batch/Serial Number with its dates for tracked items.
  4. Save. Lines with no cost are refused for moving-average items; a standard-cost item without a price takes its standard cost.

Check it worked​

  • As On Inventory on the go-live date shows the quantities; Item Trial shows the values. See Lists and reports.

What posts​

DocumentWhenDebitCredit
Inventory AdjustmentSaveInventory, from the posting profile by movement and item posting groupThe opening movement's offset account in the posting profile

Undoing it is Reverse on the toolbar.

If something looks wrong​

  • "Basic Data - Line ID : ... - Price cannot be zero" - type the Cost Price.
  • "Basic Data - Line ID : ... - Batch / Serial Number cannot be empty" - the item is tracked.
  • "Inventory is Closed of this Period" - the go-live date's period is closed.