taken from the
If you have an existing business and you have accounting
records on a previous accounting system, you need to take on opening balances of
the stock items in TurboCASH, unless your data has been converted from a
previous version of TurboCASH or Pastel version 5.2 when you start to use
TurboCASH.
This option allows you to take-on stock before you begin trading or processing stock transactions, such as sales and purchases. When you have an existing business and you start working on TurboCASH, you already have the information regarding your stock. Before you can take on your quantities at hand for your stock items, you should already have created your stock codes. Their respective descriptions, bar codes, reporting groups, unit size, latest cost price, up to 3 selling prices, Input Tax and Output Tax, Sales, Cost of Sales and Stock Control Accounts should have been entered into the system. See Edit Stock Items (Edit - Stock Items).
To take on your stock items in TurboCASH, is as simple as entering the physical quantity on hand, (the closing balance of your physical stock items on your previous accounting records from your previous system) and checking your average cost amount. The average cost amount should be displayed on the Stock Item - Take-on screen. It is recommended that you do a full stock taking to determine your physical stock items at hand before taking on your stock quantities on TurboCASH. This will ensure that you start with the correct quantities in TurboCASH, as any shortages and surpluses are dealt with in your old accounting records.
It is very important that you either do a take-on of each of your stock items or that you enter a purchase for each item, before selling any stock. If you create an invoice for a stock item, before having done a stock take-on, TurboCASH will not know the item's cost price and will update your cost of sales with a zero amount. This will over-inflate your profits.
When the cursor is in the Stock Code field, the Stock Item search facility will be displayed. Select the applicable stock item or enter the stock code.
In practice you would now do a stock take and inform TurboCASH as to the numbers of each item you have in stock. Unless your opening balances are actually entered into the system, TurboCASH would never know how many items you had in stock to start with.
To take on opening balances for Stock:
Click on the Input - Adjust Stock menu option or press the 
and 
keys on your keyboard. Alternatively you may press the 
and 
and
keys on your keyboard.
Click on the Stock Take-on option. The screen will change to
reflect the columns in which you need to enter the quantities. The following an example of the
stock item quantities and cost prices from the stock records on a hand system:
After the Closing Quantities at hand as well as the cost prices is captured, the Take-on option for the Stock Adjustments screen should be displayed as follows:
Select the date on which you wish to take on the Stock items.
Once you are finished to take on your stock balances, click on
the 
button to save the changes.
Click on the 
button or the Close 
button to exit or
close this screen. You may also press 
key on your
keyboard.
To generate a Stock Item Listing report, click here:
This amount should balance with the stock records and the stock control account in your previous accounting records.
This option allows you to take-on stock before you begin trading or processing stock transactions, such as sales and purchases. When you have an existing business and you start working on TurboCASH, you already have the information regarding your stock. Before you can take on your quantities at hand for your stock items, you should already have created your stock codes. Their respective descriptions, bar codes, reporting groups, unit size, latest cost price, up to 3 selling prices, Input Tax and Output Tax, Sales, Cost of Sales and Stock Control Accounts should have been entered into the system. See Edit Stock Items (Edit - Stock Items).
To take on your stock items in TurboCASH, is as simple as entering the physical quantity on hand, (the closing balance of your physical stock items on your previous accounting records from your previous system) and checking your average cost amount. The average cost amount should be displayed on the Stock Item - Take-on screen. It is recommended that you do a full stock taking to determine your physical stock items at hand before taking on your stock quantities on TurboCASH. This will ensure that you start with the correct quantities in TurboCASH, as any shortages and surpluses are dealt with in your old accounting records.
It is very important that you either do a take-on of each of your stock items or that you enter a purchase for each item, before selling any stock. If you create an invoice for a stock item, before having done a stock take-on, TurboCASH will not know the item's cost price and will update your cost of sales with a zero amount. This will over-inflate your profits.
When the cursor is in the Stock Code field, the Stock Item search facility will be displayed. Select the applicable stock item or enter the stock code.
In practice you would now do a stock take and inform TurboCASH as to the numbers of each item you have in stock. Unless your opening balances are actually entered into the system, TurboCASH would never know how many items you had in stock to start with.
To take on opening balances for Stock:
Click on the Input - Adjust Stock menu option or press the and keys on your keyboard. Alternatively you may press the and and
keys on your keyboard. Click on the Stock Take-on option. The screen will change to
reflect the columns in which you need to enter the quantities. The following an example of the
stock item quantities and cost prices from the stock records on a hand system:After the Closing Quantities at hand as well as the cost prices is captured, the Take-on option for the Stock Adjustments screen should be displayed as follows:
Select the date on which you wish to take on the Stock items.
Once you are finished to take on your stock balances, click on
the button to save the changes. Click on the button or the Close button to exit or
close this screen. You may also press key on your
keyboard.
To generate a Stock Item Listing report, click here:
This amount should balance with the stock records and the stock control account in your previous accounting records.
