Entering an Opening Stock Balance for the beginning of year

Please can you advise me how to enter an opening stock for wines bees spirits and food.

Many thanks

Sine Davis

You will need to enter journal for the opening stock, to which end, the closing stock in the balance sheet from the previous year ended becomes your opening stock in the current year.

Enter a journal as shown in the example below, you can access the journal system through the full chart of accounts (COA) from your dashboard by clicking ‘Reports >> Chart of Accounts’ from the top navigation menu, followed by ‘New Journal Entry’.

Using an example of £1,000.00 closing stock figure as of 31/03/2013, the opening stock journal for 01/04/2013 will be as follows:

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