How to update Stock Opening Balance in GL account

[swaminathan]

When setting up a new company I always use StockCounts.php rather than a stock adjustment. Both will work, a stock count just seems neater.

What you need is a Trial Balance from your old system, whether that is manual or computerised. Your accountant should be able to provide this. The values against each GL account in the TB should be entered using GLJournal.php.

You need to make sure your control accounts balance with your ledger valuation, Debtors ledger, and Creditors Ledger.

Tim

Thank you Tim for the prompt reply.
I have all balances for TB, I shall go ahead with GL entry
please confirm whether the stock/general ledger interface should be disabled in the company preferences while entering the TB data.
I am not sure should I enter( value of inventory in stock) Finished Goods Inventory(1460) as well.
Thanks