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Income Statement-Beg/End Balances

Discuss Peachtree Complete, Pro, and Premium Accounting & Premium industry-specific product issues, problems, and tips.

Income Statement-Beg/End Balances

Postby tdwarren2021 on Sat Jul 26, 2008 9:36 am

We are a manufacturer using Peachtree 2007 for Manufacturing. We take a physical inventory at the end of each month, and post a General Journal Entry to correct the Inventory Balance Sheet account. We Debit or Credit a Purchases-Materials Account and Credit or Debit a corresponding Beginning Inventory Account to adjust the Balance Sheet Inventory Account. My question is that our accountant would also like us to post a Beginning and Ending Inventory on the Income Statement at the end of each month. Is this possible, and will it cloud the day to day reports between inventory postings if we were proceed with his request. Thank you.
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