Starting balances for inventory exist only if you are transferring an existing business to Manager from another accounting system. In that case, you need to set starting balances for inventory items already in stock, including both quantities and average costs. Your starting balances in Manager will be your closing balances from your previous accounting system.
Before you can enter a starting balance for any account, go to the Settings tab and set a Start Date:
If you initially entered inventory items without starting balances, the amounts in the
Average cost, and
Total cost columns of the Inventory Items tab will all be zero. This would have been correct if you had been starting a brand new business. New businesses all start with quantities and costs at zero.
But when you must enter starting balances, go to the Inventory Items tab and click Edit next to the inventory item for which you will enter starting balances:
Starting balance box and enter the starting quantity and average purchase cost per unit:
Click Update to save changes. Starting balances will be reflected in the Inventory Items list:
Total cost amount will appear on the balance sheet under the Inventory on hand asset account: