Inventory accounting using Opening Stock + Purchases - Closing Stock


Did you do the purchase via the Purchase Invoices tab, if yes, then did you select a supplier under the Supplier text box. If you don’t select a supplier the accounts payable entry ends up in suspense.



One last thing

Is there a way to see the stock on hand value at the end of each transaction wether a sale or a purchase before putting the final ( Year end adjustment value ).

I am comfortable if we have to do a journal entry after each transaction.

( If we open a goods account ( Stock on hand ) and assign all sales and purchase to this account to get the value of stock on hand after entering the opening value how would that work.)

Everything else is working fine,

Waiting for your reply. :slight_smile:


!) In your earlier screen shots the Opening and Closing stock accounts have figures in them - why? Those accounts should be blank and are only used on the last day of each financial year.

  1. You wrote “Is there a way to see the stock on hand value at the end of each transaction”, only by using the Inventory tab, which I fully understand is unsuitable for your business.

But why do you need to monitor the stock on hand value so closely, do you expect it to fluctuate about. Also, based on your early comment “a single item can be converted to 4 or 5 pieces or even more” how would you make the valuations. If you purchased a single item for 200 and sold a piece of it for 50 how would you proportion the 200. The sold piece could be a significant or insignificant part of the original purchase,

You also wrote "If we open a goods account and assign all sales and purchase to this account to get the value of stock on hand “, which won’t work by the way its written. Lets assume this is day 1 of the business and you have no opening stock. You make a single item purchase for 200 and you sell the single item complete for 300. If you assigned both of these transaction to the 'goods account” then the balance would be minus 100 and you can’t have negative Stock on Hand.

Without knowing more about your particular “products” its hard to comment further.


Hi, my problem is My company opening on mar2015, then we buy the stock also in mar 2015, then dun have bring yr2014 stock to 2015. So still Opening stock, stock on hand at the column?
And at the purchase invoice side, when i buy the stock from supplies, the account isn’t choice Opening stock?


OK, lets see if I understand your situation correctly.
You opened your business in March 2015 (let say your start date is March 1) and you have purchased stock in March 2015. Also, you have bought in opening stock from the prior year and the opening stock is still showing as the stock on hand. Then when you purchase stock from the supplier the account is not choosing Opening Stock.

Is this correct?

Are you using the Inventory Items tab for your stock or are you using the Opening/Closing stock system as detailed above?

Until I know the answer to this question I can’t assist further

Perhaps you could show a screenshot of your Summary Page and your Purchase Invoice details.


Last time i use Inventory Items, jz delete all the items…because my acc department say can’t key in capital side.
So i follow ur step to create…then i wan key in the purchase invoice…i dunno isn’t choice opening stock or other else?


Those are my summary page and purchase invoice.
For example i buy a lot of pen from supplier, then i selling to my customer…then how i to separate my stock balance…and others…meet a very big problem at this question…


Your choice would be “Plus Purchases” for the Purchase Invoice you have shown.

Why does your BS Stock on Hand and P&L Opening Stock have the same value (91,335.00) as the Purchase Invoice displayed ?

The BS Stock on Hand should equal your prior year (2014) stock value.

The P&L Opening Stock should be zero. You only use the P&L Opening Stock account at year end (31/12/15) when you want to adjust the year end stock values


means tat i opening on march 2015…then i will only for add purchase invoice , then opening stock should be 0, right?

Why does your BS Stock on Hand and P&L Opening Stock have the same value (91,335.00) as the Purchase Invoice displayed ?
(cos i key in twice…i didn’t know which 1 is correct…)


Yes - opening stock should be 0
BS Stock on Hand is correct


Oh, ic …then i try to correct it first.
So my all stock change to add purchase.
But my customer invoice choice what item sales?
Last time i choose sales inventory…


Yes, all stock purchases to "Plus Purchases"
For your Customer Invoice’s - Sales or Product Sales - your choice
I wouldn’t use Sales Inventory as you aren’t using the Inventory tab


Ald correct it.
But my sales is together with the stock in package price.
How i check my stock, then like tat my stock still not same any?:joy:


I don’t understand this statement - can you give examples

.[quote=“Ng_Yuehrou, post:33, topic:5252”]
How I check my stock,

Do you mean, how do I check my stock levels using Manager, only by using the inventory tab


For example tis…is in a package price
The first line is title name
the second line is the stock


This is no in package



As you aren’t running the Inventory tab, the Qty is only information for the Customer - as its not updating any stock values.


yes, b4 is running inventory tab. Now ald change it…so i face this problem, how i bill in package price…


Just as you have shown in the screenshot above


how to do the closing stock…?