Infusion Knowledge Base

    Sorry, we didn't find any relevant articles for you.

    Send us your queries using the form below and we will get back to you with a solution.

    Why are my Opening & Closing Stock values the same?

    When I run a Profit & Loss report my Opening and Closing inventory figures are the same.  Should they be?

    Solution

    No they shouldn’t.  You must create a journal to the Closing Stock Account to reflect your new stock on hand valuation.   This journal can be created by Infusion from Financials / ...More Options. 

    to give

    Enter the date as the last day of the month. The Inventory Valuation at this date will display. 

    Select Post to update the Current GL Value to that of the Inventory Valuation. Once this is done you will see a Journal in your Closing Inventory GL, showing the update to the inventory valuation. This figure will update to your Profit and Loss report. 

    It is recommended that you do this update about the middle of the following month,  after all Supplier Invoices have been received.

    If entries have been backdated into a prior month, it is necessary to run this update for each subsequent months in order as the figures will have changed.

    Delete

    For legacy Infusion users - this is the equivalent of Update the Stock value to GL functionality


    Was this article helpful?

    Still can't find what you are looking for?

    Our award-winning customer care team is here for you.

    Contact Support

    Powered by