Opening stock & closing stock

Question asked by Paul Odell 5 weeks ago

I hope the question will make sense.

I'm using the software to replace a simple excel spreadsheet system, manually inputting sales & expenses I can understand ok, (I'm not planning to add my bank account as 80% of the transactions are PayPal) but how do I put in my Opening Stock amount & the Closing stock amount at the end of year ?

(if I start the year with a different stock amount than I end it, how do I show this as it will effect the P&L),

BTW, i have looked at a few different software packages for MTD, but find yours's the easiest to use.

Thank you

Write reply3

3 Replies

Hi Paul,

No problem and the question makes perfect sense! For any stock adjustments, this will require journal entries. This feature is available on our Sole Trader paid plan.

And we really appreciate the kind words, the team and I take great pride in the product and glad to hear you are finding it easy to use!

Tommy

Best answer
5 weeks ago

Hi Tommy, thank you for the quick reply, so I guess I will have to pay then,

Paul.

5 weeks ago

Hi Paul,

No problem! And with our Sole Trader paid plan, you will have access to the journal feature as well as dedicated telephone support. You can review the full list of additional features by heading to the Building Icon (top right) > Subscriptions.

Tommy

5 weeks ago

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