We can add all stock/ inventory opening balances through Item Open Entry form.
Check at Home > Application Settings > Opening Entry > Item Open Entry
As per accounting system, we have to follow the double entry process.
When we increase the initial stock value we have to balance the same value with credit a/c (owner's capital account or loan a/c or payable a/c . ).
If we don't know where the balance amount to be credited then we can use any Temporary Ledger a/c to post value, later we have to do adjustment entry to nullify the Temporary Ledger a/c.
Here, all Item's opening value will be added or debited to the linked ledger accounts as per Inventory Accounting Setup.
Pls check this at Home> Accounts> Accounting Setups > Inventory Accounting Setup
If any Inventory account is not mapped with Inventory accounting setup then it will take the default Temporary Account to debit the opening values.
To post this open entry, we need to select the balancing or credit account(Temporary Account*), However, if the debit balances and credit balances of the entry are equal then balancing account not mandatory one.
Additional options:
In Item Grid there is a small button like below. Download the excel sheet and read its instructions carefully.
Follow the steps in the excel sheet to make bulk opening entry.
Note:
If system throwing the error as "Does not allow to post in temporary ledger" then
We have to enable the add-on function to post values into temp account ledger.
To enable:
Goto Home》Control Panel 》Manage Account 》Add-Ons 》Enable "Allow Posting in Temporary Ledger"
Save/update the settings and try to post the item transactions.
Read more about adding opening balances.