Enter stock opening balances

Opening balances represent the financial position of your organisation on the day you start entering live transactions into the Stock Control module. Whatever date you choose you are likely to have an opening balance, whether your organisation is just starting up or changing from another accounting system.

Opening balances are applicable to item type stock, with the exception of phantom BOM built items. An opening balance is applied to each individual stock item and the quantities are shown at warehouse and bin level.

Note: If the system is not set to use multiple locations, the default Home warehouse and Unspecified bin are used to display the opening balances.

Opening balances can only be entered once for a stock item bin. You can enter opening balances by:

• Recording the value for individual stock items.
• Importing the opening balances.