STOCK ASSETS adjustment
I started running a business in Quickbooks in the middle of the financial year. The accounting office I ended my cooperation with in April 2024 (my financial year is 10.2023 - 09.2024) sent me a Trial Balance at the end of April 2024. One of the items on the Trial Balance is STOCK ASSETS, which is the value of my inventory. When entering OPENING BALANCE, I entered the value of STOCK ASSET. Now at the end of the financial year, i.e. on 09/30/2024, I have a STOCK ASSET item still with the same value.
Since I sold some of the goods over the next 6 months, the value of the inventory decreased. It is known that the decreased value of the inventory should only decrease on the DEBIT side. How do I do this in Quickbooks so that the STOCK ASSET value is corrected?
