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AccountRight

Inventory: Changing inventoried account number to update account balance

Contributing Partner

7Posts

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7 Posts
Contributing Partner
Australia
New
New

My business has now grown to the stage where I want to break my inventory into brands on my balance sheet. When a new account code is created and assigned to the item, the value of existing stock is not transferred to the new account.

 

The current solution is to run a report, export it to Excel, group it, take the new number and then manually to an adjustment.

 

My recommendation is that when the inventory account is changed, the user is asked if they want to adjust the existing records to reflect the new account, or just future records.

 

"Reassigning a stock item to new inventory account will automatically update balance in account"