By comparing the value of your stock in the inventory module with the Stock on Hand account on your balance sheet you will be able to prove that the stock figures in your stock module are correct and then the value of stock in your balance sheet.
The stock on hand account is defined in the inventory maintenance module against each Stock Group. Each stock item is defined in a single group.
1. Enter all your final transactions in the Inventory control module (stock take, transfers, and landings), the purchase order, sales order and job costing stock movements if you have any.
2. Do a General Ledger Post Journals to update your trial balance.
3. Print a General Ledger system trial balance
4. Print a Stock Valuation listing in the inventory control module using the FIFO stock cost rules.
5. Compare the balance at the bottom of this report with the Stock On Hand control account in your General Ledger balance sheet.