Periodic inventory

1

How to convert Manager to a periodic inventory system instead of a perpetual inventory system

2

Hello @ASHRF,

Manager inventory isn’t a 100% perpetual, but a compromise between both. It has perpetual quantities and periodic costing.

I assume what you need is for purchase accounts to show in the Profit and Loss.

If that’s what you are looking for, you can:

  1. Use Non-inventory Items posted to a Profit and Loss Statement Account

  2. Create another Profit and Loss Statement Account or two for stock movement

  3. Create a new Ordinary Balance Sheet Account for your inventory asset.

  4. Periodically value your inventory by Debiting/Crediting your inventory account from Step 2 against one or more of the movement accounts from Step 3