Opening Stock

Opening Stock is the amount and value of materials that a company has available for sale or use at the beginning of an accounting period.

The closing Stock of the previous accounting period becomes the opening Stock of the current accounting period.

1. Prerequisites

Create Warehouse.
Link Warehouse to appropriate accounting ledgers.

2. Opening Stock for Non-serialized Items

To post opening stock visit the Stock Reconciliation page.

3. Opening Stock for Serialized and Batched Items

Create the Batch and Serial Number records beforehand. To post opening stock for serialized and batched items:

Go to Stock > Stock Transactions > Stock Entry > New.
Select 'Material Receipt' in 'Stock Entry Type'.
Select the Warehouse in 'Default Target Warehouse'.
In Items table select Item Code, Qty and Basic rate.
For batched items select Batch No.
For serialized items select Serial No.
Save and Submit.

4. Related Topics

Accounting Of Inventory Stock
Stock Entry Creation
Stock Reconciliation

Updated on: 21/03/2023

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