When starting a new company on Fincon Accounting, you have two options when it comes to opening quantities and balances. You can elect to bring in your opening stock quantities using a stock-take and bringing in your opening balances with journal entries. Another option (and one we recommend) is to make use of the Take-on Routines.
Despite the intimidating name, the take-on routines basically just involve all the steps relating to creating your inventory items and accounts, and bringing in your opening quantities and balances.
The steps in the take-on routines process involve the following: