Opening Stock wrongly posted to Inventory Account

dynamics_prasanth

Dear Friends,

One of my clients has wrongly entered the Opening stock into the Inventory A/c instead of the Opening Stock A/c. This was noticed on a later stage. By this time, lot of transactions were posted to the inventory a/c. Now do I have any option to transfer the opening balances from the Inventory A/c to the Opening Stock A/c with out affecting the Balances in the Inventory A/c.

Thanks

ndn

Hi Prashanth,

Can you please let know what is the difference between an Invetory account and an Opening balance Account?

In Navision normally the opening balances are brought into the system through the Item journal. So the Accounting entry will be
Inventory Account .. Debit
Inventory Adjustment Account .. Credit

AdamRoue

Journal it from one to the other on the opening day. If they put it in the inventory account instead of the opening balance the opening balance was understated, the inventory account overstated, a journal between the two on the opening date will correct this.