Hello, we have put our opening stock on ERPNext using stock reconciliation doctype (purpose “Opening Stock”). We put the valuation rate as 1 and decided to do another stock reconciliation later to change the valuation rates.
Now we want to change the valuation rates but are not sure if the stock reconciliation purpose should be “Opening Stock” or “Stock Reconciliation”.
I understand the difference account will change based on the purpose but we can change that to whatever we want. Is there any other difference?
Stock reconciliation is the process of calculating and evaluating stock-in-trades periodically and at the end of the year to evaluate the total stock for the preparation of accounting statements. In this process, the actual physical stock is examined and recorded in the system. The actual stocks in the system and the stock should be contractual and accurate. If it is not, you can use the stock reconciliation tool to reconcile the stock balance and the value with the real one.
More details for check it: