DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Current Inventory that's already had the cost plus the GST paid for


#1

I have an inventory that has already been paid for, as well the GST has been paid on entry. How do I put this in plus of course the quantity of the items. If I raise a purchase order then I am buying something I already own as is on the books as an asset


#2

I don’t really understand your question. What account have you used to categorize purchase of inventory? You should also check documentation on Inventory under Documentation tab in the progream.


#3

Sorry about the late reply and my question. This is just like putting the amount that you have in the bank when you first start your program. I already own the inventory I have and have also paid the GST on it. With other programs I have just added the description, amount and the purchase and selling price without raising an invoice. This went into the Asset/Inventory account


#4

Under Settings, there is a Conversion Balances module where you can put opening balances for all your accounts (including individual inventory items)