Closing stock
This query is : Resolved
Gautam Jaiswal
(Querist)
02 June 2019
Why not closing stock shown in trial balance ???
CA Rashmi Gandhi
(Expert)
02 June 2019
Closing stock is the leftover balance out of goods which were purchased during an accounting period. Total purchases are already included in the trial balance, Hence closing stock should not be included in the trial balance again. If it is included, the effect will be doubled.
Amol S Joglekar
(Expert)
06 June 2019
In manual accounts, it comes as adjustment entry
But in stock enabled accounting softwares, it is very much included in trial balance.
But in stock enabled accounting softwares, it is very much included in trial balance.
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