Dear Experts,
what will be the accounting entries /treatments for WIP stocks (Changes in Inventory) in books of accounts (Balance Sheet) at the end of month or year ?
How to make this entry in Tally or any accounting system to establish this amount in BS ?
Then, How to finalize the closing stocks including changes in inventory and how to put into the Balance Sheet thro accounting entries ?
please guide.
Regards
Pradeep
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WIP/Changes in Inventory accounting treatment and finalization of closing stocks
Replies (2)
Quick Summary
For accounting info Google CWIP
In tally, book purchases and raw material is stored.
Then use manufacturing vouchers
Then update inventory closing stocks
Check inventory info reports.
Nothing specific about knowing wip analysis as far as I can remember
balance sheet me closing chadane par WIP ko openiing and closing kaise show kraye
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