1. How to activate perpetual inventory

1. Activate Perpetual Inventory:

   Home > Accounting > Company > Enable Perpetual Inventory

    Note:

   Please be aware that disabling perpetual inventory will require users to manually handle the account entries.
2. Set up the following default accounts for each Company if not set. These accounts are created automatically in the new BizCentric accounts.
   • Default Inventory Account (Asset)
   • Stock Received but Not Billed (Liability)
   • Stock Adjustment Account (Expense)
   • Expenses Included in Valuation (Expense)
   • Cost Center
3. If the user wants to set an individual account for each warehouse, create account head for each account. Go to:

   Accounts > Chart of Accounts > Company > Application of Funds (Assets) > Current Asset > Stock Assets > Create a new account with same name as Warehouse

   Now, go to a warehouse and link this account to the warehouse. This helps in filtering and viewing statements warehouse-wise.

4. In stock transactions, general ledger entries are generated based on the Account Head assigned to the warehouse. If no account has been set for the warehouse, the system retrieves the account head from the parent warehouse. If no account has been set for the parent warehouse either, then the system retrieves the account (Default Inventory Account) from the company master.

2. Related Topics

1. Accounting Of Inventory Stock
2. Migrate to Perpetual Inventory