{"id":8490,"date":"2024-04-11T12:07:40","date_gmt":"2024-04-11T09:07:40","guid":{"rendered":"https:\/\/support.simplbooks.fi\/fi\/kayttoohjeet\/adding-opening-inventory\/"},"modified":"2024-04-11T12:07:40","modified_gmt":"2024-04-11T09:07:40","slug":"adding-opening-inventory","status":"publish","type":"ht_kb","link":"https:\/\/support.simplbooks.fi\/fi\/en\/kayttoohjeet\/adding-opening-inventory\/","title":{"rendered":"Adding Opening Inventory"},"content":{"rendered":"\n
This guide explains how to add an opening inventory to your company<\/strong> if you want to use inventory tracking and your company has existing stock before starting to use SimplBooks.<\/p>\n\n\n\n

Inventory tracking should only be used if you want to know at all times how much stock you have on hand.<\/strong> Using inventory tracking adds complexity to bookkeeping, and we recommend using it only when it provides real business value.<\/p>\n\n\n\n<\/div><\/div>\n\n\n\n

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Before adding the opening inventory, a warehouse must already be set up in the program.<\/strong> See the instructions below.<\/p>\n\n\n\n

<\/span>A. SEE HOW TO CHANGE WAREHOUSE SETTINGS<\/div>
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You can access warehouse settings under Settings > Environment Settings > Warehouse Settings.<\/p>\n\n\n\n
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The automatic numbering format for inventory entries<\/strong> can be, for example: %Y%M%3N= 2404001 (meaning the first inventory entry of April 2024). You can read more about automatic numbering here<\/a>.<\/p>\n\n\n\n

There are three options for defining the cost price<\/strong>.<\/p>\n\n\n\n

There are also three options for the inventory costing method<\/strong>. The FIFO method (First In, First Out<\/em>) is commonly used.<\/p>\n\n\n\n

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Once you have selected the appropriate settings for your warehouses, save them and proceed to section B.<\/p>\n\n\n\n<\/div><\/div>\n\n\n\n

<\/span>B. SEE HOW TO ADD A NEW ACCOUNTING ACCOUNT FOR A WAREHOUSE<\/div>
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Before creating a new warehouse, set up a new accounting account for it. A new account is created under Accounting > Accounts > New Account.<\/p>\n\n\n\n

Warehouse account numbers must be in the range 1500\u20131550 so that they appear in the correct position on the balance sheet. Add an appropriate name for the warehouse (e.g., Tampere Warehouse) and save.<\/p>\n\n\n\n<\/div><\/div>\n\n\n\n

<\/span>C. SEE HOW TO CREATE A NEW WAREHOUSE<\/div>
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A new warehouse is created under Inventory > Warehouses > New Warehouse.<\/p>\n\n\n\n

Select the accounting account you created in the previous step, name the warehouse (e.g., Tampere Warehouse), and save.<\/p>\n\n\n\n<\/div><\/div>\n\n\n\n

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If you have existing stock before starting to use SimplBooks, you can add the opening inventory in two ways:<\/strong><\/p>\n\n\n\n