Hi this is related to products (SW resale) non-stocked. We resell SW say Cisco, Oracle, MS etc., we don’t stock any of these products including HW that are delivered directly to the end customer by the manufacturer.
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stocked item property un-selected for the Item Model group. Do I need to define storage and tracking info, system requires?
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From ledger ac perspective - does the Product Receipt a/c hit? if so, what account type. Assume it’s asset a/c/. We have .net 30 with manufacturer (vendor) so I assume we can use the Purchase Accrual ledger a/c.
From my understanding (for stocked items), the product receipt & Purchase Accrual are reversed (to the degree) when vendor invoice is posted and “Purchase, inventory receipt” is hit (Dr) and Vendor Bal (Cr).
However, while purchase expenditure - un-invoiced is hit (regardless stocked/non-stocked), I assume the below is not applicable:
“Purchase, inventory receipt” & “Purchase expenditure for product”.
For non-stocked items, does the “Purchase expenditure for expense” hit? My understanding is that its used for the services. Appreciate your help.