Opening Stock Balances

When you are transferring from another stock system you will have opening stock balances. These will need to be recorded against your stock within your E-conomic agreement.
The financial amount of your stock would have been entered as part of your total opening balances, this process allows you to enter the units against each product.
These are entered through the menu option Stock adjustments. Before you can enter your opening stock you need to have created your products within the product list and, if you have more than one location or warehouse then these must be created before you start in order to select one as you are entering your opening stock.

Creating your product list

You can also import your product list

Creating different locations or warehouses

Once you have your product list installed and if required, you have created different locations for your stock you can begin to enter your opening balances :-

• Click on the menu option Stock adjustments within your stock tab
• Click on in the centre section of your screen
  
  
• From the Type box select the option Opening
• Enter the product number, location if you have created different warehouses
• Enter the quantity, (DO NOT ENTER ZERO quantity as the system will still pick up the unit price) check the currency and enter the unit price and click OK
• When you have finished entering, all your opening balances will be sat in the listing area of your screen
• Click from the centre section of your screen, alternatviely you can select individual items by ticking the box to the right of the transaction
• Click from the popup box make the following selection:-

• Enter the date for your opening stock,the system will aways display the current date
• The system automatically generates an entry number which you can cross reference with
• Booking text enter Opening balances
• Additional text this is optional if you need to place more information
• Contra account Select your option, in this case Opening
• Enter the stock account, the account will be 1091 if you have selected a default setup, click OK
• A voucher will appear confirming the transaction which you can print

This video shows you how to create and book a stock adjustment