To count your item's opening quantity
The Index to Reports window should be displayed.
- Click the Stock tab, then highlight Stock Count Sheet.
- Click Customise. Be sure to choose the Sort by Item Number selection, then click OK.
- Click Print.
- After the report is finished printing, count your actual quantities of stock items and write down those quantities on the report. You might also want to write down the unit cost of each item, as well; this will help speed your setup of the items later in this procedure.
To enter the item's opening quantity and value
If you don't already know the actual quantity of your items, find that quantity at this time. See To count your item's opening quantity.
The Count Stock window should be displayed.
- Notice that all the items for which you marked the I Stock This Item selection in the Item Information window are displayed. All your items display 0 (zero) in the On Hand column at this time because MYOB Accounting Plus has no record of quantities for any of those items yet.
- Enter the actual quantities of your items in the Counted column. The difference between the On Hand and Counted columns will automatically appear in the Difference column.
- When you're finished making entries in the Counted column, click Adjust Stock. Since you're entering opening stock quantities and values, you won't need to enter a Default Expense Account in the Default Adjustment Account field. Click Continue.
- Another Adjustment Information window appears, subtitled "Opening Balances." This window informs you that Accounting Plus has noticed that some of your on-hand stock quantities are zero. Click Opening Balances.
- If you entered an opening balance for your stock asset account, skip to the next step.
If you opted not to enter an opening balance for your stock asset account, the Account Balances window will appear, informing you that Accounting Plus has noticed that the balance of one of your stock asset accounts is zero. Click Adjust Balances.
- The Stock Adjustments window appears, showing a line item for each item whose opening quantity you entered in the Count Stock window. The line items show each item's number, name and quantity, as well as the stock asset account, or, if you opted not to enter an opening balance for your stock asset account, your historical balancing account.
Warning: Don't change the Account column!
Be sure you leave the entry in the Account column unchanged. Choose Recap Transaction from the Edit menu to view how this adjustment will affect your accounts.
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- Next, you'll enter the opening total values for each item. You have two choices for how you want to do this:
- In the Unit Cost column, you can enter the cost of a single buying unit of measure for the item.
- In the Amount column, you can enter the total value of the item. (The item's total value is the total cost of all the item's units.)
When you make an entry in either column, the column in which you didn't make an entry will change to reflect the entry you did make.
Warning: Enter costs, not selling prices
Remember to enter the amounts these items cost you, not how much you're selling them for.
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- When you're finished entering values for every item, click Record to assign the new quantities and values to the items.