I feel like ive read every post on here regarding stock and opening/closing balances, but I’m still struggling.
It’s a small niggle of just £87 of stock that was still in-hand at the end of the last year’s accounts.
I’ve created a journal for the Opening stock balance of £87 and then moved it to stock (see screenshot)
The stock has now all perished and needs to be written off to zero - the nature of the company has changed and will never actually hold stock from here-on.
I can’t work out how to journal the closing stock balance of £0
I did originally just move the opening stock to general sales (via a journal) but wasn’t sure if this was correct. Help very much appreciated- thanks