• Inventory subledger does not match GL after roll over to new year

    FormerMember
    FormerMember
    Background info: Sage 50 Quantum v.2016 Non-for-profit organization Years working on: 2015 and 2016 Calendar years First year using SAGE (entered 2014 history) Before I rolled over to a new year, my inventory subledger matched the GL. However…
  • How to I enter our opening inventory of finished goods and raw materials so COGS will calculate?

    We are a small manufacturer. We've just finished creating all of our inventory items, including raw materials and finished goods. For finished goods, we used the "build" tab to create our BOMs, which identify the quantities of raw materials required for…
  • Recording Opening Inventory

    In a recent post to Sylvie Su I found the following link very helpful. http://www.accounting-basics-for-students.com/periodic-inventory.html But when a new business is started, using periodic inventory, in which account is the opening inventory posted…