poritng Opening Balance with out inventory

gsbalasa

Dear Experts,

Please suggest me the best to handle the following situation. I am facing the following problem when porting the opening balances,

I need to port opening balances in GL without inventory (inventory evaluation is not done yet), once inventory evaluation is done then we need to port the opening balance for inventory.

Please suggest me how to handle this situation.

Thanks in Advance

Gowri Shanker

ssingla

I would recommend you to avoid this and ask the client to provide the opening stock with valuation. In case that is not feasible use item journal with zero unit cost and later on do the revaluation using revaluation journal.

gsbalasa

Thanks for your reply,

but when we post gl without inventory, then debit and credit won't be equal, how to handle this

thanks in advance

Gowri Shanker

ssingla

You can open a suspense or opening balance adjustement account to post the difference. Use search functionality available on the forum to find out how to use the same.