Main Menu > Master Data Management > Accounts > Closing Stock
Assume that the opening stock value was Rs. 100,000/- as on 01.04.2012 and that needs to show in Profit & Loss Account. Also assume that at year end there was a closing stock of Rs. 70,000/- as on 31.03.2013 and that needs to show both in Profit & Loss Account and Balance Sheet.
|1.||Press F2 on main screen to change current software date to 01.04.2012|
|2.||From main menu go to the Closing Stock (M > A > S)|
|3.||Press ALT + L at “Ledger” field and select either Stock In Hand or Closing Stock|
|4.||Put the value of Opening Stock as on 01.04.2012 at “Opening Stock” field |
|5.||Now come to the “Date” field of Sl No. 1 and type the year end date 31.03.2013|
|6.||Put the value of Closing Stock as on 31.03.2012 at “Closing Stock” filed |
|7.||Press ALT + S to save the transaction.|
This way it will show opening stock amounting Rs.100000.00 in Profit & Loss Account and closing stock amounting Rs.70000.00 both in Profit & Loss Account and Balance Sheet.
Similarly you can enter closing stock quarterly in order to maintain quarterly Balance Sheet.