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Is there a way to utilise inventory where an organisation received money first for orders made (sales), then order the items with suppliers which is paid immediately (purchase + payment)?
I tried the inventory system but it seems impossible to record negative inventory. We need to be able to do the tracking so we can always have $0 balance at the end of every month of each project when we settle with our supplier, and ensure we are not over ordering or under ordering.
If you were tracking your inventory items, then unfortunately AccountRight 201X.X doesn’t allow the recording of negative inventory quantities.
To handle the money being received by the client with none of the stock on hand, you would have to either record a sales order and apply the payment to that order or apply the payment to a closed invoice and create a credit note that can be used to apply to the sales invoice once it’s been raised to reduce it to zero.
As a sales order, doesn’t impact on the on-hand quantity of the items you could record a sales order with items that have 0 on hand quantity. You wouldn’t be able to convert the order into an invoice until those items have sufficient stock on hand.
Both applying a payment to an order or a closed invoice reflect the money coming in to your bank account which will match up to your bank reconciliation and can then be used to pay your supplier.
Do let us know how you get on with this,