How do I import inventory on hand stock quantities?

Q: I am in the process of bringing our 3000+ items in to our new company file in preparation for the conversion.  I cannot find in the manual how to bring in the starting quantities for those items.

If just setting up your company file you cannot import your opening inventory  for each item, until you have created or imported the items into MoneyWorks Gold, which is described in detail in the previous post “How do I import my products?Therefore if you have not yet imported your inventory items, refer to that article first, by clicking the link.

In MoneyWorks Gold version 6 you can import quantity on hand for each item, which can be used for setting the opening inventory levels as in this case or for importing annual or periodic inventory stock take.

Assuming that your inventory items are created open your Items List. Show menu > Items, or Cmd + 3 (Mac, CNTRL = 3 (Windows).

The items list will open showing the items you have imported .

importing inventory levels into MoneyWorks Gold

As you can see the items have been imported, BUT with zero stock on hand values (even though the file I imported did have Stock on Hand values).  Once the product list is imported you need to do a StockTake in order to bring in the stock on hand values.  So the next step  is to click on the Stocktake sidebar option [red Square] below.

Three additional columns will appear in the Items List: Snapshot, Counted and Difference.

Seriously Good Mac accounting software stocktake mode

With the Stocktake list open you ant to click on the “Start Stocktake” option in the list toolbar across the top of the list [Red square].

Good inventory management software

You will be asked to confirm that you want to start a stock take. Click Start and MoneyWorks will take a snapshot of your current stock levels on hand.

Good inventory management in MoneyWorks

You can then import the file that has the products’ stock on hand values ….. if doing set up the same one you used to originally  the items.

Import the text file via the Import Items menu as shown below, selecting the import file on your computer

good accounting software for Mac

or drag the text on to the open Items List and in either case the import map will open to your last used import. The difference in this case is that you want to line up the Destination field called StockTakeNewQty to the stock on hand (source field) field from the file being imported: as shown below.

accounting software importing inventory
Note: if you were importing a annual or periodic inventory stock take to an existing company file, you would need the minimum fields for the import: Item Code and Qty On Hand in the text file and then set the import map to set values as previously shown in “How do I import Products”. A minimal Stock Take import map could be set up similar to the one below, with values assigned to the mandatory fields.

Seriously Good Accounting software

In either case assuming that you now your import map lined that up, click on the Options button shown in larger below’

MoneyWorks Options

The Options window below will open and check the Update if Exists check box and  then click on OK


When you click on Ok it will take you back to the import Map where you will click on OK to start the import.  Once the import is complete (with no errors etc), you will be taken back to the Stocktake list, and then you want to click on the Finish Stocktake [Red Square]  in the list toolbar:
You will be prompted to Commit Stocktake where you need to enter a stock adjustment ledger account, which if this is part of your setup you would select a SETUP suspense account for your opening inventory. If it was a an annual inventory stock take you would use a n inventory adjustment account (current asset).
Note: If unsure of the account that you use check with your accountant.

Once you click on Commit the stock on hand values will be brought in, and a Stock Creation journal will automatically be created.

NOTE:  For more information on Commit Stocktake you can refer to page G-242 of the PDF Manual (located under the Help menu).

For more information about MoneyWorks Support in Canada, in the USA, or in the UK contact www.moneyworkssupport.wordpress.com

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