This final step records the number of units and the total cost for each product in inventory. Start by selecting the menu option Data Entry, Inventory Adjustments. The basic idea is to debit the inventory product for its current unit count and total cost. The balancing credit is to the inventory controlling account used in the general ledger set up. When all the inventory products have been entered, the balance of the controlling account should be un-changed. To make sure that your inventory is set up properly, we recommend that each controlling account be entered as a separate transaction. Refer to Chapter 19, Inventory Adjustments, for further instructions on making inventory adjustments.
A sample inventory set up follows.