Before commencing any stock imports the Stock Valuation account on the Inventory Adjustment virtual location needs to be set to the Historical Inventory Account.

TIP: Before setting this account, take note of the current settings as they will need to be reset after the import.

Obtain from the client's old system the current quantity on hand of each product and current cost. This information, if possible, should be exported out from the client’s old system into csv/Excel format. If not possible, an inventory valuation report should printed to file and then this can be manually tidied up in Excel to a format that can be imported. The cleaned up import file must include:

• Product Code (or Product Name) (this must be able to be matched to an existing product in Odoo)
• Location (this must be able to be matched to an existing location in Odoo)
• Quantity (this must be in the product’s stocking UOM in Odoo)
• Batch/Serial# (only applicable if being tracked in batches/unique serial number)
• Cost (this must be in the product’s stocking UOM in Odoo)

NOTE: The above data requirements are for standard Odoo Implementations. The TIMMSAnywhere Inventory importer will need to be used for timber products using product measures and the content of the import file will need to match this imports data requirements.

From the Product Template List view import the current product costs onto each product. Before proceeding validate a range of products to ensure the costs are correct and match the old system.

From the Inventory Adjustments View import the current quantities on hand for each product and location.
Spot check a few adjustment lines created to ensure they match the old system and then apply all adjustment lines. When performing the "Apply" you will be prompted for a reason description. This should be set to "Opening Stock Balances" so the journals and stock moves can be easily identified.

• Run an inventory valuation report in the new system and match to the Inventory valuation report in the old system. Any differences need to be identified and corrected.
  
  
• Run a balance sheet report at go-live date to ensure the stock on hand matches the balance sheet from the old system. Also check that the Inventory Historical Balancing account has been cleared.

if there is a balance left in the historical inventory account, then check whether there was an imbalance between the accounts and the inventory sub-ledger in the old system. If there is and it matches the current balance in the inventory historical balancing account, then create a new journal under OPACC to move the balance from the historical inventory account back to the stock on hand account. This should be dated with the go-live date and the decription/labels updated to ensure it accurately reflects the prupose of the journal.

The client should be notified of this imbalance and instructed that they will need to write off with this amount under instruction from their accountant.

Reset the accounts on the Inventory Loss Location.