Stock and costing
Enter opening stock balances
Choose the right way to load the stock you already hold when you start on Rocket ERP, item by item, warehouse by warehouse or from Excel, and see what each posts to the books.
2 min readLast updated
In this article
When you start using Rocket ERP you already hold stock. Enter it once, with a correct cost, and every later purchase, sale and report builds on it. There are three ways, and you can combine them.
Before you start
Count your stock, warehouse by warehouse, on the day you start.
Agree the cost of each item with your accountant. The opening value is quantity times cost price.
Make sure every warehouse exists and has its stock account. See Set up warehouses.
Option 1: on the new item form
Best for a small catalog, or for items you add one by one.
Open Inventory › Items › Items and select Add item.
Fill in the item, including its cost price.
Enter the Opening quantity and choose the Opening quantity warehouse. The warehouse must belong to your current branch.
Select Save.
The opening quantity is recorded only when the item is created. The edit form does not show it.
Option 2: a quantity adjustment for each warehouse
Use this when an item already exists, or when it is stocked in more than one warehouse.
Open Inventory › Items › Modify Item Quantity.
Choose the Item and the Warehouse.
Enter the counted figure in New on-hand quantity and select Post adjustment.
See Adjust an item's quantity.
Option 3: import from Excel
For a large catalog, work in two steps:
Import the items from Excel. The import creates them with a zero balance. See Import items and categories from Excel.
Load the counted quantities, one warehouse at a time, with the bulk quantity sheet. See Update quantities and prices in bulk.
What each option posts
Each option records the stock in the movement log and post its value: quantity times cost price, to the warehouse stock account against the branch stock variance account. Ask your accountant to clear the stock variance balance against your opening equity once the load is complete.
Common questions
I entered the opening quantity in the wrong warehouse. Move it with an item transfer, or set both warehouses to the right figures with quantity adjustments.
Can I enter an opening balance for a variant? Yes. Use a quantity adjustment and choose the option group and option value.