For inventory opening balances, they could be imported as part of the initial company setup. However this is not a desirable method because there is no way to see what the opening balance was at the start.

The best way to get the opening balance for inventory is to start by importing the Inventory part numbers from a spreadsheet, without the quantities and cost balances. Then on the go live date, and before posting anything that involves inventory, import the inventory count as an “Inventory Adjustment” to populate item quantities and costs.

Include the following in the spreadsheet:

  • Warehouse
  • Part number
  • Count
  • Memo

The memo should contain text such as “Opening Balance” to identify these transactions.

Once imported the results can be reviewed, and when verified as correct they can be posted.

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