What the use of Item Opening Balance in inventory & how to d

Question

What the use of Item Opening Balance in inventory & how to do I have created a apps called inventory. The transaction are PO Good Receive Note[GRN] Good Issue Note[GIN] When transaction of GRN created then the stock will added(+) into Mst_Stock Table When transaction of GIN created then the stock will Minus(-) from Mst_Stock Table. Then how and where to do the opening balance of each item My Mst_Stock Table is StockNo ItemNo StockQty Thanks Basit.

Rajesh Sahoo · Answer

HI Actually opening balance is required for report and balance means you r not going to open the shop or business means you r going to implement it somewhere like in any shop and that shop is already having some stock from it's godown so you first tell them they will give u the item qty for each item so that you can start the transaction then letter when they will receive any other stock they can add it but remember as it's transaction based application they must need report from starting balance so you can show them if u have the opening balance remember there will be two table always one for transaction stock table another will be your opening balance table

Rajesh Sahoo · Answer

please mark it as answar thanx

Rajesh Sahoo · Answer

Yes correct you got it my friend.

basit khan · Answer

Dear Rajesh Thanks A lot. it means that need to store opening balance qty this qty will never changed only stock qty will changed is that correct? Other thing for stock i have StockQty column this column is changing after when GRN or GIN transaction are updating. Its better idea to have Stock table have also Opening Balance Qty column. Thx Basit.