inventory opening entries

Business Central/NAV User Forum
1

Hi,I am learning navision. I would like to know about inventory opening entries. How to enter opening entries.Let say I h ave a item Bicycle. Item No 1000 At the end of the financial year qty = 500. So after closing the account period how to enter Opening entries of this item. Please throw some light about opening entries. Please give some baby steps to learn this .Thanks and regards

2

To easiest way to enter new inventory items is by doing a positive correction with the use of the Inventory Item Journals.

Gerrit

3

You will not need to enter the opening entry in this manner - the closing of the financial year does not close off the inventory from a quantity perspective, so you do not need to create new opening entries.

4

Please throw some detail explanation to update opening entries.

I need some baby steps to post opening entries.

please…

5

Are you live on the system?

Your question read as though you were and you had come to the end of your fiscal year and wanted to create opening entries in the new year after the fiscal year close. Is it this or do you have a blank Navision system and you want to create the opening entries?

Please also say if you are a partner or end user and what version you are on as these details will help.

6

Thank u Adam,

I am a partner. I am learning navision . iam working on a india version SP3.

I know about Inventory accounts . I read Inventory costing material also.

1.What is the process to create opening entries in the new year after the fiscal year close.?

  1. if i have a blank Navision system i how to create the opening entries?

Please Adam give some detail explanation on these.

I hope u can throw baby steps to get coomand on this.

7

Hi

  1. There is no need to create opening entries after a year close. Get a test database, close the year and you will see this. It is simply not a Navision concept unless it is a localization for you, and then I cannot really comment!

  2. Enter these tthrough an item journal, there are lots of posts on opening entries through the system, so just search and read these posts, then when you get a specific issue you can post this.