I’m setting up ERPNext for a retailer shop, and they need to update all of the stock since the beginning of the year.
What are my options? I know I can bulk upload purchase invoices using CSV, but what is the ERPNext way of purchase operations and stock updates?
You can use the import function for Purchases Operations and Stock Updates as well. Best way is to create one item, then export with data to get a template to work with, and then reimport that
Data import tool is the way for mass upload but you can initiate by importing items, warehouse data and then take only stock openings using Stock reconciliation doctype. This will speed up process rather then getting all previous data up.
For items with zero valuation, you can use stock entry type “Material receipt”.
@unmesh, that’s where I’m confused. This is the first time I’m using ERP or accounting software. For the moment, I understand Purchase Invoice, but normally, how does ERPNext expect me to record purchase and stock updates? What are the steps?
Also, how is the profit and loss calculated for zero valuation items?
All documents in Buying module like supplier quotation, purchase order are used as template for data recording. Purchase receipt document allows user to inward material in respective warehouse which increases stock balance(current assets) and on the liability side it will increase stock received but not billed account.
The stock received but not billed account will be adjusted once we record a purchase invoice against it. On the other hand if we check update stock in purchase invoice, stock and payable accounts will be affected simultaneously. That is slightly easier.
If materials are checked zero valuation(In stock entry, material receipt), stock ledger will point material movement but it will not affect P&L statement.