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RandIEwing's avatar
RandIEwing
Contributing User
2 years ago

Multiple Item Codes for One Product

Hello Team can you help please.

 

We like to keep track of our inventory and stock it under one Item Code but sell it under different item codes, to different customers at different prices.

 

We can set up the Items, create the PO's with correct Inventory adjustment but are unsure how to deal with the Sales side of things.  Which Accounts to use for the sales orders & the deletion out of Inventory. 

Can you give us a sample of the account codes we should utilse for these transactions, please eg. 

 

Sales Invoice

Credit Account

Debit Account

 

Adjust Inventory

Credit Account

Debit Account

 

Thank you 

Regards

Iris Ewing

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    2 years ago

    Hi RandIEwing 

     

    Thanks for your post. When recording an Item sale invoice the Trade debtors account is automatically debited the total of the invoice. The rest of the accounts posted to for this type of transaction are determined by the Item set up. For example:

     

    An Item that is inventoried would be set up like this (account numbers are examples only so may not be the same as yours):

     

     

    I create a Sale invoice for that item:

     

     

    The journal automatically posted for that Sale invoice is:

     

     

    I'll give you some Help Articles with detailed information on Inventory to assist with setting up Items and recording transactions:

     

    Inventory management

    Set up inventory items

    Making inventory adjustments

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.