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Re: Fwd: Opening stock and closing stock

by
HTE
- 04/27/2017 04:21:24

Hi,


I believe you are using the periodic system and since that is the method, you are required to perform a monthly inventory count to adjust  your month-end balances. To come up with your correct inventory balance and cost of inventory, please see the behavior of the following:

-configure your product category for inventory adjustments (increase/decrease)

-use the inventory adjustment module for performing inventory count

-adjustments made in quantity and costs should be reflected as part of stock moves and mapped to respective inventory or costs of inventory.

Therefore, in doing the inventory adjustment at every month-end, the costs of inventory will be recorded.


Regards,





On 04/26/2017 07:50 PM, bhavik vyas wrote:
You are right @trevi@twanda.com 
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.

As you said 

" In the P&L statement you show income and expense (which also includes the change of stocks, but not the stock amount itself)."

Can you 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 ?

Bhavik Vyas
ERP-Consultant
9033986379
ITMusketeers Consultancy Services LLP



On Wed, Apr 26, 2017 at 2:25 PM, bhavik vyas <bhavikvyas1991@gmail.com> wrote:
You are right sir .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.

As you said 

" In the P&L statement you show income and expense (which also includes the change of stocks, but not the stock amount itself)."

Can you 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 ?

Bhavik Vyas
ERP-Consultant
9033986379
ITMusketeers Consultancy Services LLP



On Wed, Apr 26, 2017 at 2:10 PM, Ermin Trevisan <trevi@twanda.com> wrote:

Most probably you did not understand it well. This is a pure accounting topic. In the balance sheet you show stocks and assets. In the P&L statement you show income and expense (which also includes the change of stocks, but not the stock amount itself).

Therefore from an accounting perspective what you want to show is not part of the P&L statement. But you can create a management report based on the P&L report where you add additional information such as the stocks you have mentioned.


On 26.04.2017 10:30, bhavik vyas wrote:
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.

For example:
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?

Bhavik Vyas
ERP-Consultant
9033986379
ITMusketeers Consultancy Services LLP



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