Clsoing Stock

sarahwilson

I think I've made a boob in Sage with closing stock and my poor fuddled brain can't think it out!!

I had opening stock of 5000.00 and a closing stock figure of 6500.00 but when I look on my Trial balance its showing stock figures of 1500.00. Have I done something wrong? It won't throw my TB out if I have as each side will increase by 5k but my heads sore thinking about it. I think maybe I have done too many journals can anyone help?

columbia

Sounds like the journal is the wrong way round.

When stock increases you Dr 1002 and Credit 5203 with the difference between opening and closing stock.

The opposite applies if stock decreases.

sarahwilson

Ah thats what I've done wrong!! Many Thanks for that it was giving me a headache!!

columbia

No probs

I've done it wrong myself before that's why I recognised it!

PAMDILL

I am really lazy and to save me having to think about it I set up nominal codes for opening and closing stock and work in progress so each year I do the full jounrals rather than just increasing or decreasing.