![]() You may wish to either zero out the value to the account and perform a stocktake, or make an adjustment to the account once you have completed the stocktake. How you manage and track stock depends on your business's current accounting practices. The items value is added to or deducted from the inventory adjustment account as applicable.The items value is added to or deducted from the inventory account as applicable.Stocktake / stock adjustment, item is marked as Inventory in card file or purchase order. The items value is deducted from the inventory asset account.When ordered items have been assigned from stock to the job: The items value is added to the nominated inventory asset account.When the purchase order has been receipted to stock: This process is reversed if the item is removed from the job.Ĭatalogue or description order receipted to a job, item is marked as Inventory in card file or purchase order. The items value is deducted from the nominated inventory asset account.The items value is added to the nominated cost centre expense account.Stock allocated to job from storage device, item is marked as Inventory in card file or purchase order. Learn more in Select an item's cost centre. You have the option to select a different default cost centre for each item on the order. The items value is added to the nominated expense account.Purchase order receipted to stock, item is not marked as Inventory in card file or purchase order. The item's value is added to the nominated inventory asset account.TransactionĬatalogue or description order receipted to stock, item is marked as Inventory in card file or purchase order. View the table below for more information on which accounts are affected by each transaction. Learn more in How to Create a Description Order. The Inventory Item check box is selected in the purchase order.The Inventory check box is selected in the item card file. ![]() Please note, transactions post differently depending on whether: Learn more in Stocktakes and Stock Adjustments. Catalogue or description order receipted to a job.Stock allocated to a job from a storage device.Catalogue or description order receipted to a storage device.Inventory Tracking impacts how the following transactions post to your accounting package:
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