Opening Stock

Opening Stock represents the quantity and value of inventory items you have on hand when starting to use YousrERP.

How to Enter Opening Stock

1. Go to Stock > Opening Stock.
2. Select the Company and set the Posting Date.
3. For each item, enter:

- Item Code: The item you're entering stock for

- Warehouse: The warehouse where the stock is located

- Quantity: The quantity on hand

- Valuation Rate: The cost per unit (used to calculate total stock value)

1. Click Save and Submit.

Where Does the Value Go?

The total value of opening stock (Quantity × Valuation Rate) is posted to:

• Debit: Stock/Inventory Account (Asset)
• Credit: Temporary Opening Account

This ensures your Balance Sheet correctly reflects the value of inventory on hand.

Best Practices

• Complete a physical stock count before entering opening stock.
• Enter opening stock for all warehouses and all items.
• Set the correct valuation rate (this becomes the cost basis for future transactions).
• For items tracked by batch or serial number, enter stock at the batch/serial level.

Related Topics

• Opening Balance
• Stock Reconciliation
• Item