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Re: Opening stock and closing stock in Profit & Loss Statement

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matt crouch
- 27-04-2017 16:15:43
Bhavik,

1. Make sure your product valuation is set to real time
2. Make sure all product categories have accounting categories
configured (stock input, output, and valuation).
3. Make sure that your accounting configuration is set to generate
journal entries for movement of goods.
4. depending on your configuration, the journal entries may not
automatically be posted. This means that the changes they imp have
many unposted journal entries. If you do, go to the accounting tab and
set the relevant journal (the stock journal) to post moves
automatically. Alternatively, be sure to periodically review and post
the draft entries.
5. Be sure that your inventory valuation account is of the correct account type.

If you do all of these things, the balance of your inventory value
will be reflected in all financial statements, taking into account
incoming and outgoing goods. You can also see your cost of goods sold,
and any special stock categories you have assigned. .


On Wed, Apr 26, 2017 at 2:00 AM, bhavik vyas <bhavikvyas1991@gmail.com> 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?
>
> 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 ?
>
>
>
> Bhavik Vyas
> ERP-Consultant
> 9033986379
> ITMusketeers Consultancy Services LLP
>
>
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-- 
- Matt


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