Re: [SL] Year End & Inventory Questions

[Paul T. <pt...@wa...>]

Roy Nicholl schreef:
> Oops ... I did leave that step out of my narration ... but I did  
> indeed do that ...
>
> My dilemma still remains why my 'mock up' from Sunday appears to have  
> worked, yet my "real" setup for the running club still shows  
> inventory on the balance sheet (but does not when I look at the Good  
> & Services / All Items report.
>
> I have three years worth of data in the system and am not so keen on  
> keying it all in again ... is there any way to 'fix' the inventory  
> issue without screwing-up the integrity of the database (any further  
> than it already is).
>
>
> Roy
>
> On 13-Feb-2007, at 11:57, R Pennington wrote:
>   
Just a wild guess, but is the amount in the balance sheet anything like 
the opening stock of year one you started using SQL-Ledger?
In that case, you probably did not enter the COGS for the opening stock, 
effectively creating a non existing profit.
And the amount there should be re-classed to COGS. Year one, but I 
assume you may have closed previous years.
The correction then should be made at the earliest moment in time 
possible, COGS debit, Stock Credit.
Or just invoice out for zero as a stock correction; if the good were 
stolen or burned you would do that also..

Hth
Paul