Opening Stock
Opening Stock
The amount and value of inventory on hand at the beginning of a financial or accounting period is referred to as opening stock. Usually, it is carried over from the previous period's Closing Stock.
1. Prerequisites
Make sure the following configuration is finished before recording opening stock:
Establish and set up pertinent warehouses: Go to Stock > Setup > Warehouse.
Connect each warehouse to the relevant ledgers: (The Chart of Accounts or Company settings are used to manage warehouse accounting.)
2. Starting Stock for Non-Batched & Non-Serialized Items
To update the quantity and value of items that are not tracked by batch or serial number, use the Stock Reconciliation tool.
Steps: Go to Stock > Stock Transactions > Stock Reconciliation.
Choose the Posting Date, which ought to be the beginning of your fiscal year.
Select the desired warehouse.
Enter the quantity, valuation rate, and item code.
"Is Opening" should be set to Yes.
Save and Send
3. Starting Stock for Batched or Serialised Items
You must record opening stock using Stock Entry (Material Receipt) for items that are serial number or batch tracked.
Steps: - Select Stock > Stock Transactions > Stock Entry.
Click New, and set:
Type of Stock Entry: Material Receipt
Is Opening Entry: Yes
Posting Date: Choose the beginning of your fiscal year.
Default Target Warehouse: Choose the stocking warehouse.
Items Table:
Code of Item
Quantity
Basic Rate (Valuation Rate).
Batch No: If item is Batch-enabled → Create or select a batch.
Serial Nos: If item is Serial No enabled → Enter pre-created serial numbers (you must create serial numbers manually first or let ERPNext generate them using Auto-Name Series).
Save and Submit.