Check the average cost and enter the quantity on hand. Note that the Average Cost is the same as the Latest Cost Price, which you have entered when the Stock Item Code was created. TurboCASH will calculate the Total Cost by multiplying the Average Cost with the Quantity on Hand, which you have just entered.
You should not use this option if you have converted your data from a previous version of TurboCASH or Pastel version 5.2.
It is good practice to obtain a Stock Item Listing report, reflecting information regarding the Stock Count, Average Cost Stock Value, Cost Price and Quantity on Hand from TurboCASH. This report should be checked to verify that you have entered all your details correctly and that your accounts at sub-account level do balance. These reports should be retained together with your working papers and or financial statements from your previous accounting system for future reference and audit purposes.