To enter the item's opening quantity and value

If you don't already know the actual quantity of your items, find out what it is before you start. (To count your item's opening quantity)

The Count Stock window should be displayed.

Click Count Stock in the Stock Control Command Centre to open the Count Stock window.

Notice that all the items for which you marked I Stock This Item in the Item Information window are displayed. All your items display 0 (zero) in the On Hand column because you have not yet recorded quantities for any of them.

Accounting Plus only: Select either the Group by Item or Group by Location option.

Enter the actual item quantities in the column. The difference between the On Hand and Counted columns will automatically appear in the Difference column.

When you've finished making entries in the Counted column, click Adjust Stock. Since you're entering opening stock quantities and values, you won't need to enter a Default Expense Account in the Default Adjustment Account field. Click Continue.

Another Adjustment Information window, subtitled "Opening Balances", appears. This window informs you that some of your on-hand stock quantities are zero. Click Opening Balances.

If you entered an opening balance for your stock asset account, skip to the next step.

If you opted not to enter an opening balance for your stock asset account, the Account Balances window will appear, informing you that Accounting has noticed that the balance of one of your stock asset accounts is zero. Click Adjust Balances.

The Stock Adjustments window shows a line for each item whose opening quantity you entered in the Count Stock window. The line items show each item's number, name and quantity, as well as the stock asset account, or, if you opted not to enter an opening balance for your stock asset account, your historical balancing account.

Don't change the entry in the Account column!

Next, you'll enter the opening total values for each item. There are two ways to do this:

In the Unit Cost column, you can enter the cost of a single buying unit of measure for the item.

In the Amount column, you can enter the total value of the item. (The item's total value is the total cost of all the item's units.)

When you make an entry in either column, the column in which you didn't make an entry will change to reflect the entry you did make.

Enter costs, not selling prices

When you're finished entering values for every item, click Record to assign the new quantities and values to the items.

Return to the procedure To add a new item -- all types.