Use the Adjustments page to enter your starting inventory. Rather than adding a bill for each item, make 1 inventory adjustment. This keeps your stock count accurate from your selected start date.
Go to Adjustments. Click Adjustments under ConnectStock and click Add Adjustment.
Set the date. Enter a reference number and the starting date (for example, January 1) for when you calculated your inventory.
Add inventory. If you track warehouses, select the warehouse. Then enter how much inventory you have for each item, along with its unit cost. We'll automatically fill in the on hand stock you have in the selected warehouse.
When entering a negative adjustment, ConnectBooks does not give you an option to enter a cost. This is because the system uses the FIFO method for decreasing inventory.
Save the adjustment. Click Save to confirm. The system adjusts the inventory count.
To do adjustments in bulk using Excel, see How to Upload Inventory Adjustments in Bulk.
Frequently asked questions
Why can't I enter a cost on a negative adjustment?
ConnectBooks uses the FIFO method to lower inventory, so the cost comes from the oldest stock you still have.
Can I enter many adjustments at once?
Yes. Use an Excel upload. See How to Upload Inventory Adjustments in Bulk.