Hi,
I have made entries in Inventory Opening Balance for many Itemcodes with Qty and Price at date 01/04/2013.
All entries had total of Rs.4,21,15,356
Now my client wants value of Opening Stock as Rs.3,80,00,000
Closing Balance of the Account "130000 - Raw Materials" as on date 01/04/2013 is Rs.4,21,15,356 which is correct as per our entries,
but now I have to change it to Rs.3,80,00,000.
I found one way to do manual Journal entry of the difference amount.
But, If I do it will it make any difference to Inventory Audit report???
Regards,
Amrut Sabnis