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The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Opening stock
Post Info TOPIC: Opening stock
pargrey


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Opening stock
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Hi could anyone please tell me how I enter an opening stock figure for a new company into sage instant accounts. Thanks

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Casu


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dr stock, cr however you paid for it.

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Caron
pargrey


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Thank you but I am new to this and would appreciate more detailed information. Do I enter as a journal/ do I use the nominal code for "stock" or 'opening stock' Appreciate any further help, thanks

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Casu


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Are you a professional bookkeeper or a business owner?

How was the stock acquired? Did you get an invoice? How was it paid for?

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Caron
pargrey


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Hi yes I'm business owner, I have invoice for the stock paid the invoice by bank transfer. I was going to enter this invoice as a purchase invoice?

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Casu


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This site is for professionals to exchange information, not for business owners to get free advice from, this is something you really should be asking your Accountant about and if you do not have one you should get one straight away, asap....tax planning is all in the word -planning ie before you do anything.

The problem with answering on here is we do not get the FULL information that we need to answer a question, especially from one line questions and more so from business owners.

Despite that
just key this to 'purchases' (5000) as a normal supplier invoice. The stock adjustment will be done at period end by your Accountant. Do not key to stock.


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Caron
pargrey


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Thank you for your reply

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