new stock entry difference account

[robert]

Hi,

Checked documentation but cannot find definition/function of the difference account while doing a stock entry.

I want to recorded existing stock in an organisation: It the value of all entries accrued in an account head. Default says "Cost of Goods Sold " but that is not applicable here.

Also in https://frappe.io/apps/erpnext/user-guide/stock-inventory/stock-entry  the screenshot is unreadable even if enlarged (resolution) and the manual should give details on how to enter an item, like the effect of the price and account heads that can be entered.

rgds robert

[Nabin Hait]

To update opening stock for non-serialized item, you should make Stock Reconciliation. And for serialised item, you can make Stock Entry of type Material Receipt. 

In both cases, you should enter "Difference/Expense Account" as "Temporary Liability" account. On submission of the document, system will debit warehouse account which is an asset account and credit difference/expense account. Before making those entry, make sure you have enabled "Perpetual Inventory" by checking Stock Settings page.

If you are not making opening stock entry, you can select "Stock Adjustment" account in Difference/Expense Account field which is an expense account.

To learn more about perpetual inventory, please check following pages:

https://frappe.io/apps/erpnext/user-guide/stock/accounting-of-inventory-stock

https://frappe.io/apps/erpnext/user-guide/stock/perpetual-inventory

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