<![CDATA[FrontAccounting forum — Inventory Adjustment GL Account]]> https://frontaccounting.com/punbb/viewtopic.php?id=10629 Sat, 18 Jan 2025 18:22:11 +0000 PunBB <![CDATA[Re: Inventory Adjustment GL Account]]> https://frontaccounting.com/punbb/viewtopic.php?pid=43510#p43510 All opening balances in amounts are made through a journal entry that is balanced. All inventory opening balances too can be done through a dummy sales / purchase account that can be settled as paid/received onto the suspense account in a balanced manner. Mere creation of stock on hand will not have its value balanced off.

]]> Sat, 18 Jan 2025 18:22:11 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=43510#p43510 <![CDATA[Inventory Adjustment GL Account]]> https://frontaccounting.com/punbb/viewtopic.php?pid=43508#p43508 Good day all,

I am helping someone to setup Frontaccounting for his small business.

I am entering his opening inventory and I used Inventory and the Inventory Adjustment GL  for the Items. Now after entering the Inventory its showing NIL. As I check the GL transaction, debit & credit is Inventory.

Please which account do I use as Inventory Adjustement GL. Do I create one or use the Purchase Price Variance that is used as default by FA.

thanks

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]]> Thu, 16 Jan 2025 11:41:48 +0000 https://frontaccounting.com/punbb/viewtopic.php?pid=43508#p43508