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wendy bell

FINANCIAL YEAR END

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hello,

i hope someone can assist me urgently.  our financial year runs from March to February.  We always do our stock counts in March, and never use the PROCESS > COUNT INVENTORY.  i literally just do inventory journals to correct the stock holding in February 2023.  I made a blunder and did all the stock corrections in March 2023, my question is, can i amend what i need to amend in February 2023, update.  We then do the financial year roll over, can i reverse all the inventory journals back into February 2023 so that my March SOH will be correct?

thank-you

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    Hi Wendy Bell

    If you have done the inventory journals in the wrong period, then you need to do another inventory journal to take out the inventory. Once you take it out you then reprocess in the correct period. 

    This is the correct way to do it. 

    Please verify or reply and let us know if the advice / suggestion provided was helpful.

    To verify an answer simply go to your post and click “More” > “Verify Answer”

    Kind Regards. 

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