Opening Balance Purchase Order

When setting up Jim2 for the first time, to enter opening balance stock quantities and values, add an opening balance purchase order. This purchase order is very similar to a standard purchase order when adding and finishing. The major difference is that no general ledger transactions are created but the values are added to the opening balance of the stock on hand asset and cost of goods sold (non depleting) accounts.

This purchase order is different in several ways:

1.Upon finishing this purchase order it will update the general ledger accounts Opening Balance field.

2.It will not adjust creditors figures.

3.It will not adjust taxation accounts.

4.It will not put an entry into the Transaction Journal.

Things you cannot do

1.Cannot add an account fee amount.

2.Cannot add any freight.

3.Cannot apply an expense.

4.Cannot Create Similar from an opening balance purchase order.

Things you can do

1.Unprint the opening balance purchase order at any time. There are no period restrictions – as long as no stock is sold.

2.Enter stock adjustments: Qty -, Qty + and COGS for the opening balance purchase order.

3.Enter returns to vendors for opening balance purchase orders.

4.Create back order purchases from an opening balance purchase order. This is useful first using Jim2 and a stocktake is undertaken but the quantities do not equal the actual count at this point in time.

Further information

Purchases Security

Debtors Purchase Orders

Expenses at a Glance

Purchases at a Glance

Expenses Tab on POs

How Does Cost of Goods work

How PO Status Affects the GL

Purchases/Expenses Status

Purchase/Expense Order Header

Purchase/Expense Order Footer Tabs

Purchase/Expense Comment Grid

Purchase Order Approval Process

Purchase Order Stock Grid

Purchase Order Reports

Purchase Order List

Purchase/Expense Preview Pane

Purchase List Header

Expense Order Stock Grid

Add a Negative Expense Order

Add a Purchase Order

Add a Document to an Order

Add an Amount to a PO when Finished at $0

Add an Expense Order

Add Backorder Purchase Order

Add Comments to a Purchase/Expense Order

Add Freight to a Purchase Order

Add Stock to a Purchase Order

Add Vendor Discount

Auto Create a Purchase Order

Create a PO from a Similar PO

Create a PO Template

Create a Purchase Order List

Enter Serial Numbers

Fix Incorrect Pricing after PO Finished

Handle Employee Reimbursements

Handle a Credit for Freight Charged

Link a Job to a Purchase Order

Link Expenses to a Purchase Order

Print a Purchase/Expense Order

Progress Payments on Purchase Orders

Purchase Consignment Stock

Receive Consignment Stock

Receive Stock

Record One Invoice Number on Multiple POs

Record Overseas Purchases, GST, Import Costs

Return to Vendor

Round up Supplier Invoices

Scan Stock into a Purchase Order

Staff Purchases

Unprint Purchase/Expense

Vendor Price Breaks

View or Edit a Purchase/Expense