Items for which Serial No. and Batch No. is maintained, opening stock balance entry for them is update via Stock Entry. Click here to learn how serialized inventory is managed in BizCentric.

Question: Why Opening Balance entry for the Serialized and Batch Item cannot be updated via Stock Reconciliation?

In the BizCentric, stock level of a serialized item is derived based on the count of Serial Nos for that item. Hence, unless Serial Nos. are created for the serialized item, its stock level will not be updated. In the Stock Reconciliation Tool, you can only update opening quantity of an item, but not the Serial No. and Batch No.

Opening Balance for the Serialized Item

Following are the steps to create opening stock balance entry for the Serialized and Batch item.

Step 1: New Stock Entry

Stock > Stock Entry > New

Step 2: Select Purpose

Stock Entry Purpose should be updated as Material Receipt.

Step 3: Update Posting Date

Posting Date should be date on which you wish to update opening balance for an item.

Step 4: Update Target Warehouse

Target Warehouse will be one in which opening balance of an item will be updated.

Step 5: Select Items

Select Items for which opening balance is to be updated.

Step 6: Update Opening Qty

For serialized items, adjust the quantity to match the number of serial numbers available.

For serialized items, specify serial numbers corresponding to its quantity. Alternatively, if serial numbers are configured to be generated based on a prefix, manual entry of serial numbers is unnecessary.

For batch items, specify the batch ID for updating the opening balance. Ensure the batch master is prepared and updated for the batch item.

To create new Batch, go to:

Stock > Setup > Batch > New

Click here to learn how Batchwise inventory is managed in BizCentric.

Step 7: Update Item Valuation Rate

Step 8: Difference Account

In the perpetual inventory valuation system, an accounting entry is generated for each stock transaction. Consistent with the principles of double-entry accounting, the total debit must equal the total credit in each entry. When submitting a Stock Entry, the system debits the Warehouse account by the total value of items. To ensure equilibrium, we utilize the Temporary Opening account as a difference account.

Step 9: Save and Submit Stock Entry

Upon submission of the Stock Entry, the stock ledger posting will be executed, and the opening balance for the items will be adjusted on the specified Posting Date.