I am looking for a stock expert? I have a few questions as to how QB deals with certain things. Can anyone help, please?
I want to start tracking stock for a client and I have his year-end figures as a starting point. However, there have been transactions made and if I put 31.12.2019, it is the incorrect date and the system won't allow it. I don't really want to back out what's already gone in but I also don't want the four months worth to disappear or to go the Opening Balance Equity as this would not be right either. Can you help, please?
While we're unable to create an entry before the opening balance date, you'll want to consult your accountant. This way, you're tracking your stocks properly and handle the existing transactions accordingly.