Opening Stocks

Uniq365 represent Opening Stocks as the value of stock at the beginning of the financial year. This value is automatically reflected based on the account posting settings configured in the account book, ensuring accurate alignment with the company’s financial records and inventory management at the start of the period.

This is the screen to enter or edit the stock balances as on the starting date of actual implementation of UNIQ365 Accounting. This does not perform on-line posting. 

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How to create Opening Stocks?

1. Click on Stocks – Stock Operations – Opening Stocks icon for following screen.

2. Click on Add (F3) button to create new transaction.

3. Add the line details of the product that the user needs to open balance with. 

• In each Opening Stock transaction, only 1 line is allowed per stock item per warehouse. You may enter as many lines as you like so long as the product codes and/or warehouses are different.  

• If there are a few prices for a single item (like different costing for a product under FIFO pricing) to be keyed in, use multiple voucher numbers to effect these entries. 
• The total amount of stocks entered in the Opening Stock screen must be equal to the Balance Sheet stock that was entered in the GL – Opening Balances. This is to ensure that the stock ledger ties to the GL stock control account.