Cost of Inventory Opening Balance

Dear all,
I understand from the accounting terms that COS = opening stock+purchases-closing stock.
I need to input the cost of inventory (COS)as opening balance. What account should I debit/credit. I have inventory account, Inventory opening balance suspense account, and the GL opening Balance suspense account.
Kind Regards,
Asif

Hi!
When doing a Opening Balance for Stock via Initial Stock Window, System will automatically post a Debit Entry to Inventory Acc which based on the Set G/L Accounts By Inventory Acc you mention in ItemMaster and Credit the Inventory opening balance suspense account (you need to map this on Opening Balance Acc Field on the Screen)

Similar Messages

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    Hi,
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    HI,
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  • Period Wise Inventory Opening balance,Receipts ,Issues and Closing Balance

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      7    FROM (
      8  SELECT trans_id,
      9         item_id,
    10         trunc(trans_date,'mm') AS period,
    11         qty,
    12         qty-LAG(qty) OVER (PARTITION BY item_id ORDER BY trans_id) AS qty_delta
    13    FROM inv_track
    14         )
    15   GROUP BY
    16         item_id,
    17         period
    18  /
    ITEM_ID    PERIOD    OPENING_QTY   RECEIPTS     ISSUES CLOSING_QTY
    a1         01-OCT-05         100          5        -15          90
    a2         01-OCT-05         100        110        -10         200
    a3         01-OCT-05        2500       1400      -2400        1500
    SQL>

  • Problem of create inventory opening balance

    hi experts,
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    Hi,
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  • Why I should update the Inventory Opening Balance before keyin documents

    Dear Experts,
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    Chinho,
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  • About inventory opening balance & closing balance

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    Hi jeyakanthan,
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  • SAP B1 opening balance

    How can I input an opening balance in SAP B1. We are unable to transfer data using the Data Transfer Workbench so I have to input the opening balance manually. I tried at first however the balance is in credit. Can I get tips on how I can input the opening balances correctly. I'm also not so sure about the Opening Balance Account. I hope anybody could help us with our implementation. We want to start using B1 in our company already.
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    Hi,
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    Re: Opening Balance
    Re: Inventory Opening Balance
    Re: Opening balance problem
    *Close the thread if issue solved.
    Regards
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    Edited by: Jambulingam P on Aug 11, 2009 1:06 PM

  • How can I offset my BP Opening Balances?

    Dear Experts,
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    Hi!
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  • How I put Opening Balance

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    Hi Naveen,
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  • Opening Balances for Project Costing in R12

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    Hi
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  • Opening Balance at Actual Cost Method

    Hi Guys
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    Hi
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