Items and inventory
Setting up an initial quantity on hand for an inventory item
When you start using Wafeq, you most likely already have inventory stock. This article explains how you can set up the opening quantity on hand for an inventory item.
Learn by watching
Watch this video on how to set up an initial quantity on hand for your inventory items or read on below. Setting up an initial quantity on hand for an inventory item
Itemsfrom the left-side menu bar and then select
- To create an adjustment, enter the following:
DRAFTunder the status. Once you do so, a draft adjustment row is automatically created. We will change the status to
POSTEDafter you complete all the required fields.
- Enter the date of the adjustment and the currency.
- Under the
Itemcolumn, select the previously created item. The item must be a
tracked inventory item.
Line itemdescription, enter “Opening stock”.
- In the
Quantitycolumn, enter the quantity you have in your inventory. Under
Inventory value, enter the value of your inventory.
Opening Balance Offsetaccount.
- To post the adjustment, change the status to
Once you’ve done the above, the quantity on hand in your
Items tab for the item you adjusted will increase by the amount you entered in the
Quantity column of the adjustment.