Difference Between Financial Dimension and Inventory Dimension

Hi,

Can any one help me understand better, the basic difference between financial dimension and Inventory Dimension with suitable examples…

Thanking You,

An inventory dimension is a warehouse, where you stock things. A financial dimension is a department for cost analysis.

Financial dimensions are a General Ledger tool for breaking down financial posting. EG. You can have an expense account with $1000 debited to it. During the posting of this totak you can specify various dimensions that can then be reported on like cost centres or employee. I believe you get 3 dimension fields as standard but can purchase more if you see the requirement. I hage cost centre, employee, item type and customer. Financial dimensions are great for GL reports and most effective in the P&L rather than Balance Sheet.

Inventory dimensions split your stock records. EG. If you stock shirts, one shirt could be held in total as Modern Shirt but then split between say sizes and colours. 1000 shirts in stock but in detail this is 100 each of 5 neck sizes and 2 colours.

Hope this helps. let me know if not as I certainly found the whole thing very confusing to begin with.

Thanks Phil and Adam this has given me a clear idea …[:)]