Start with the stock you have today
On your first day you already have wax on the shelf and jars in a box. Record those balances once, with what they cost, and every later movement counts from there.
Enter an opening balance when you create the item
Section titled “Enter an opening balance when you create the item”- Create a material in Warehouse → Materials (or a product in the catalog). See Add a material.
- Switch on Opening stock.
- Enter the Quantity, the As-of date (today by default) and the Location.
- Enter the Unit cost. It is what one unit of this balance cost, in the material’s cost currency. Leave it blank and the quantity is booked at the current average cost, which stays where it is.
- Create the item.
This posts one back-dated opening movement. If the location already holds some of the item, the screen tells you the quantity: an opening balance is added on top and does not replace what is there. If the as-of date is earlier than the item’s first movement, you are asked to confirm that it is a historical opening balance.
A manual movement cannot post an opening balance. It is a separate kind, so the date and the cost that seed the average are checked.
Enter many at once with an opening count
Section titled “Enter many at once with an opening count”For a whole warehouse, use a stocktake instead.
- Open Warehouse → Stocktake and click New count.
- Choose the location, then under Narrow the count choose Opening / full count (first time). It lists every product and material, including those with no stock yet.
- Enter what is on the shelf for each item.
- Click Commit corrections.
An opening count overwrites an item’s current on-hand with the figure you counted. If items already have a balance, the screen warns you how many. See Count stock.