"Invontory On Hand" Account not listed while adding Journal Entry

[shahabb]

I suggested a method here you can take a look.

Cannot select inventory on hand or custom controll account in Journal Entries

Create a new Journal Entry enter qty and debit amount for each item. Then go to Reports-Inventory Revaluation Worksheet and create new Inventory Revaluation Worksheet. [image] [image] [image] Enter all Dates as your Starting Dates. I hope this helps.

What you have done is also fine and will give you the desired results but it would be better to use Journal Entry instead of Purchase Invoices for starting balances.
The method you followed
Skip point 1
2) create journal entry and check items and qty columns. Enter Qty for each item. (If enter value of each item as debit that would be better if not thats also fine because in step 3 you will tell programme the avg cost per item)
3) what u did is correct.
These 3 steps will give you inventory on hand value on balance sheet.
Also

Cannot select inventory on hand or custom controll account in Journal Entries

Right now setting up opening balances for inventory items involves extra step (if you want them to be capitalized on balance sheet). But in exchange, it makes your inventory figures a lot easier to understand and troubleshoot down the line when you accumulate a lot of inventory transactions. What I’m trying to achieve here is that I want businesses to focus on tracking their quantities correctly because that is all that matters. The balance of their inventory on hand is simply quantity owned …