If the company has inventory when adopting new software, you need to enter the initial inventory balance in the software.
● Does your company use a single warehouse or multiple warehouses? By default, two warehouses are already set up and can be found under the menu Warehouse -> Warehouses. If needed, you can . ● Moving to new software is a good time to review previously created item codes to ensure they still meet your needs or require adjustments. Items can be added individually or imported from a file. You can find more information about items and their types in the guide “Items” and learn more about importing items in the guide “Importing items”. ● When entering the initial inventory balance, it is important to specify the cost price. This ensures that the system generates a correct entry for the cost of goods sold (COGS) when the goods are sold. ● The initial stock balance can be entered manually or imported from a CSV file.Warehouse -> Warehouses
Select the warehouse from the list where you want to enter the initial stock. After opening the warehouse, you will find the option “Enter initial stock” under the “Actions” button.
Set the initial inventory date and click “Add new line” button to begin adding items.
If the purchase price was entered on the item card during the item addition process, the unit cost will be automatically added to the item line when selecting it. If the price is missing, it must be manually entered in the initial stock. The unit cost is necessary to ensure correct cost of goods sold entries during item sales.
Check the warehouse total in the “Warehouse -> Stock” view and compare it with the amount reflected in the balance sheet; they should be equal.
Warehouse -> Warehouses -> Actions button -> “Import initial stock”
To import, a file in CSV format is required. The mandatory data fields are:
- code
- name
- unit
- unit purchase price
- initial stock
You need to specify the initial stock date and the warehouse where the goods will be recorded in the program. If goods need to be recorded across multiple warehouses, they must be imported separately from different files. The columns in the file need to be mapped to the corresponding fields in the program..
If the import is successful, check the total warehouse amount in the Warehouse -> Inventory view and compare it with the amount reflected in the balance sheet; they must be equal.
For additional questions, please contact us at support@simplbooks.ee
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