Option
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Inventory
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Non-Inventory
|
Service
|
| Brief |
Physical things, such as bicycles, telephones, and desks, for which you want to be able to use all inventory processes. This can also include non-physical items, such as software licenses and subscriptions, if the items have identification numbers, such as serial numbers. You can fully track item values and availability in inventory. |
Typically, non-inventory items are physical things, such as bolts or pens, that a business consumes but does not want to fully track in inventory. For example, because they're low-cost items and are only used internally.fvcdscs
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A labor time unit, such as a consultancy hour, for limited business support
|
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Example of Products Type
|
Raw Material, Finished Goods, Packing Material, General Consumables, Spares, Trading Goods, etc
|
Stationery, One Time Repair & Maintenance Item, etc.
|
Service-related such as Consultancy Services, Labour Charges, Professional Fees, AMC Services
|
| Accounting Impact – Purchase |
Inventory A/c Dr.
To Direct Cost Applied A/c
Purchase A/c Dr.
To Vendor A/c |
Expense Account Dr.
To Vendor |
Expense Account Dr.
To Vendor
|
|
Item Ledger Entry Impact
|
Remaining Qty. = Qty. Purchase
|
Remaining Qty. = 0 |
Remaining Qty. = 0
|
| Benefit |
Complete Inventory functionality
|
Item Purchase Price, Item Sales Price, Pending PO & SO Tracking
|
Item Purchase Price, Item Sales Price, Pending PO & SO Tracking
|
|
Type of Inventory Transaction Execution
|
All types |
Purchase, Sales, Jobs |
Purchase, Sales, Jobs
|
|
Limitation
|
N/A |
Service, Assembly, Production Order, Location Transfer, Inventory Revaluation, Inventory Costing, Item Tracking, Warehouse Management, Inventory Planning |
Service, Assembly, Production Order, Location Transfer, Inventory Revaluation, Inventory Costing, Item Tracking, Warehouse Management, Inventory Planning |