Now you can show Stock value in Profit & Loss account, Balance Sheet and in Trial Balance. To implement this feature please use the following steps…
Step1: Setting the option
- Go to Main Menu > Settings > Application Settings > Global Option (T> A> G)
- Go to ‘Value in Final Accounts from’ filed
- Alt + L, it will open a list with the following options…
- Inventory = If you set this option here FusionRetail 6 will calculate stock value automatically and then will show it in Stock value in Profit & Loss account, Balance Sheet and in Trial Balance.
- Account = if you set this option here you have to enter stock value manually.
- Completely log out and close FusionRetail 6.
Step2: Creating an Account Ledger for Closing Stock
- Go to Main Menu > Master Data management > Account Ledger (M> A> A)
- Ctrl + N, it will open Account master creation screen
- Create a New account Ledger as ‘Closing Stock’
- Set ‘Group Name = Stock-In-Hand’
Step3: Entering stock value manually
If you select ‘Value in Final Accounts from = Account’ you have to enter stock value manually. Use the following steps…
- Go to Main Menu > Master Data Management > Account > Closing Stock (M> A> S)
- Alt + L
- Select ‘Closing Stock’ from the list
- In ‘Opening Stock’ field enter Opening Stock amount of book beginning date.
- In ‘Date’ field enter date
- In ‘Closing Stock Column’ enter closing stock amount
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