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Using IRIS Accounts Production

Hi,

I am a new user to IRIS and accounts production and need some help!

I have run opening balances into a new year for a customer on AP and it automatically brings up a loss before i even begin posting any entries. Is this correct?

I might add that the loss is the same amount as the opening stock figure. Also, I am trying to post entries such as closing stock and this is not working either! I am sure its the correct account codes i am using (74 & 574).

Can anyone help me with making these entries? All help will be much appreciated.

Junior Accountant.

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By marks
31st Aug 2012 11:35

Hi Junior

When you have brought forward your opening balances last years closing stock it seems that it is has put it to the profit and loss account (probably NC 18 which is why you are showing a loss equal to last years stock at the moment).

To post closing stock you seem to be using the right codes and should be posting through the posting tab by journal (option 11).

Regards

MarkS

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