7 Replies Latest reply: Mar 8, 2012 5:56 AM by Mahendra RSS

    Inventory and Expense item

    girish1982
      Hi All ,
      Can i difine one item as a Inventory item as well as expense item . Bec this item some time we use as a inventory item and sometimes as a expense item. Please advise how i can do this.


      Thanks & Regs
      RG
        • 1. Re: Inventory and Expense item
          Prakash Kumar
          Hi RG,

          In case if you want to define Inventory Expense Item, you have to define the Item as inventory item which means Inventory Item, Stockable, Transactable fields need to be checked other than Item's expense attributes.

          Thanks & Regards
          Prakash Kumar
          • 2. Re: Inventory and Expense item
            Sandeep Gandhi, Consultant
            You cannot define an item as expense and inventoried at the same time.
            But you can define the item as inventory item.
            And when you want to use it as expense, move it to an expense subinventory.

            Sandeep Gandhi
            • 3. Re: Inventory and Expense item
              914672
              Sandeep,
              Do you mean we need to uncheck the attribute "Asset Subinventory"
              in the specified subinventory.

              Thanks
              Radha.
              • 4. Re: Inventory and Expense item
                Sandeep Gandhi, Consultant
                Correct. You should uncheck the asset flag for that subinventory. Make sure that the subinventory accounts are setup correctly.

                Sandeep Gandhi
                • 5. Re: Inventory and Expense item
                  Mahendra
                  Guys..

                  First..i don't have much knowledge on expense items and asset items
                  1)how will the system know which item is inventory item and expense item?
                  what all the attributes which define them?
                  Are expense items not stocked?
                  Are they consumed when they are received?
                  Are expense items are not up for sale to customers?
                  How are they different form asset items?

                  Thanks
                  Mahendra
                  • 6. Re: Inventory and Expense item
                    Paarthy-Oracle
                    The terminology of items is rather confusing from an Purchasing/Inventory
                    point of view.

                    For easy understanding these will be referres to as A , B and C,
                    A - Expense Items
                    B - Inventory Expense Items
                    C - Inventory Asset Items

                    A - These items have attributes checked
                    Purchasable
                    Purchased

                    B - These tems have the following attributes checked
                    a - inventory item = YES
                    b - stockable
                    c - transactable
                    d - Inventory Asset Value = NO
                    e - Costing Enabled = No

                    C - These items have the following attributes checked
                    a - inventory item = YES
                    b - stockable.
                    c - transactable
                    d - Inventory Asset Value = YES
                    e - Costing Enabled = YES
                    • 7. Re: Inventory and Expense item
                      Mahendra
                      Paarthy wrote:
                      The terminology of items is rather confusing from an Purchasing/Inventory
                      point of view.

                      For easy understanding these will be referres to as A , B and C,
                      A - Expense Items
                      B - Inventory Expense Items
                      C - Inventory Asset Items

                      A - These items have attributes checked
                      Purchasable
                      Purchased

                      B - These tems have the following attributes checked
                      a - inventory item = YES
                      b - stockable
                      c - transactable
                      d - Inventory Asset Value = NO
                      e - Costing Enabled = No

                      C - These items have the following attributes checked
                      a - inventory item = YES
                      b - stockable.
                      c - transactable
                      d - Inventory Asset Value = YES
                      e - Costing Enabled = YES
                      Thanks Paarthy

                      when and where expense items will be used are they for internal purpose?
                      normal for a item with purchased or finshed good template...we get a item as inventory asset item right?

                      Mahendra