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what are the problems i face if i generate journal entry manually for opening stock movement?

By
samba
on 10/1/14, 3:51 PM 859 views

Hi All, one week ago had start entering the entries of my company in openerp. I have uploaded opening stock one week ago. But i have kept inventory valuation method "periodical manual", when i validate my opening stock there was no journal entries are generated for opening stock movements and stock value not effected to "stock valuation account".Stock valuation account  value i have given in opening balances. But now I want to generate journal entries for stock movements, i have changed inventory valuation method to "Real time automated". Jouranl entries are generating to my stock movements. But my problem is sum(Valuation account, stock input account, stock output account) is not become zero, fro example when i start my company i have opening stock of $1000. I have given this value in opening balances to stock valuation account.Now i want to remove this value from opening balances and want to make one journal entry for opening stock movement manually i.e stock input account cr =$1000 and stock valuation account dr=$1000. Because of this change am i face any problem in future in my accounting system? Please help me i am not accounting person to predict the problems in accounting. My Company CA saying that "if we do manual entry for stock movement, there was no link between opening stock movement and manual journal entry for opening stock". Is this right?

 

Actually yes manually creating journal entry is tricky thing, because journal entry reference (move_id will be saved in all instrumental transaction)... So when you are manually creating Entries then you have to make sure those references are also updated... if not then it is risky...

deep
on 10/7/14, 3:02 AM

Best option... cancel the manual entries... and try to validate the real Stock transactions.... unless you are very sure of linking the move_id references

deep
on 10/7/14, 3:04 AM

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Asked: 10/1/14, 3:51 PM
Seen: 859 times
Last updated: 3/16/15, 8:10 AM