Choose your tracked inventory opening balances date

Your opening balances date for tracked inventory items is the date that Xero records your opening balances journal. Note that this can be different from the date that Xero starts automatically tracking your inventory. Xero starts tracking an inventory item on the date you set it up as a tracked inventory item. Xero does not automatically backdate inventory tracking.

If you're unsure about which opening balances date to choose, we recommend you consult with your accountant or bookkeeper.

Some things to consider if choosing an opening balances date in the past

  • Xero won't let you choose an opening balances date before a lock date.
  • Try to select a date when, or close to when, you performed an inventory item count.

Worked examples of different opening balance date options

Choose an inventory opening balances date if you've been using Xero for a while

Choose an inventory opening balances date for a new Xero organization