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Status Answered
Created by AgExpert Support
Created on Feb 2, 2019

Disqus Agexpert Accounting Questions Archive

My computer crashed and I had not saved last years information properly. Now, I cannot access it. I have broodmares and stallions. How do I enter them as inventory, but not purchased inventory for this year? If I put them in Inventory Adjustments, Opening Balance, it wants them to have an average price. However, they are papered (registered) horses and varied in cost from $1500-7500. Hope I'm explaining this properly.

  • ADMIN RESPONSE
    Feb 10, 2025

    Ugh, crashes are not fun, especially at this time of year. You explained it perfectly. If you’re starting a brand new file, then under the Setup menu, there should be an option called Opening Balances. Alternatively, you can also go Setup > Chart of Accounts and select an individual account to set an opening balance on. Your offsetting account for Opening Balances is Retained aearnings.

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