Accounting and Localization mailing list archives
Opening stock and closing stock in Profit & Loss Statementby
Hello Community member,
We are currently implementing odoo in and Import and Export Company in India.
I need to display Opening stock and closing stock in Profit and Loss statement.
Now opening stock here is the total stock at the starting of the month
and closing stock is remaining stock at particular month.
In January month i have 5000 of stock.
I sale 3000 stock in this month and Purchase 4000 additional.
So opening stock for this month = 5000
Closing stock 5000 - 3000 + 4000 = 6000
for February Month
Opening stock should be 6000 because that was the closing stock from previous month.
I know real time costing method and perpetual inventory management.But i don't think that provides such reporting.Or may be i did not understand it well.
Please guide me how can i achieve this?
I know that P&L includes income and expense account and not stock(Assets) account.Suppose i have two expense account 1) opening stock 2) closing stock (which odoo itself have given in Indian Chart of account) ,so where do i set this account to get change in stock in P&L statement.
Can somebody please explain me how change of stock can be displayed in P&L?
do i need to set this closing stock and opening stock accounts in stock input and stock output account in product category ?
ITMusketeers Consultancy Services LLP