Track stock and enter opening stock for an item

Before you start

• Stock tracking is for Goods only. A Service never tracks stock.

Steps

1. Click Inventory in the left menu, then Items & Services, then New Item / Service.
2. Fill in the name, prices and VAT as for any item.
3. Under Type, choose Goods. The Track Inventory box appears.
4. Tick Track Inventory for this item. The Inventory Tracking section opens.
5. Choose the Inventory Account and the Inventory Valuation Method.
6. Optionally fill Reorder Point and Reorder Qty, and tick Tracks expiry if the item has expiry dates.
7. Under Opening Stock, enter the Quantity you hold today. As of Date starts at today's date — change it to the date the count is true.
8. Leave Value per Unit (AED) at 0 if you want the opening stock costed at the item's Cost Price.
9. Click Save Item.

What MAJA does for you

• The opening quantity becomes the item's first stock layer, dated the As of Date. Every later sale takes stock from the oldest layer first (FIFO).
• The item shows its stock quantity, quantity booked and quantity available in the Items list, and items whose available quantity is at or below the reorder point count in Low Stock Items.

Good to know

• Opening stock can only be entered when the item is first created. After that, an edit never changes the quantity. Use Stock Adjustments, bills or production orders.
• Opening stock is not taken from an import file. Items imported from Excel or CSV get their stock through bills or an opening stock adjustment.
• To check that stock value and the ledger agree, open Reports → Inventory Valuation → FIFO Valuation + GL Tie-out.