Why Doesn't My Opening Stock Show On My Profit/Loss Report?

The standard CAPITAL profit & loss report retrieves the opening stock figure that has been placed in period 1 (normally July). This represents the start of the year. If you have not started your general ledger postings beginning from period 1, then the report will not show the information you expect.

To correct this:

1. Create a general journal for period 1.

2. Put the opening stock figure that you intend to start with, against your opening stock account. And put the same figure against closing stock. For example, the journal would be:

Account description debit/credit amount

19010 opening stock debit (opening stock value you wish to show)

19200 closing stock credit (as above)

3. Post this journal to period 1. Your report will now show the opening stock figure you expect.