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Inventory adjustments

edited Nov 26, 2019 8:40AM in Accounting / ERP 3 comments

I am a new NS user so pardon the basic question. Should I be using inventory adjustments to enter new inventory. Although prior accountant entered the value of new inventory (Debit - inventory, Credit - A/P), individual items were then entered through inventory adjustments (debit - inventory?, credit - opening balance?) Obviously this opening balance account was created for these entries - no other entries posted. Not all the items were entered so now I need to enter the remaining items.

What is the best practice for entering inventory items in N/S and what account should have been credited or is the entry just wrong. I am the only one handling inventory and after looking over the NS manual I am still at a loss. These entries have only confused me more.

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