I m using periodic inventory in my organisation currently i.e. i hv opted out form the maintenance of inventory at every stock moment, I want to use period closing voucher to end my financial year, will the period closing voucher take care of closing stock entries in the profit and loss report? will the same stock appear as opening stock in next period?
Or If not then how can i update my closing stock i.e. stock in hand at the end of the accounting period in my profit and loss report.