Inventory and reimbursement in invoice
We have started to inventory items. I allocate a job number to the puchased item in purchases (clicked I buy, I sell, I inventory). The purchase does not appear in job if I look up reimbuseable expenses for the job. The purchase also is not coming up in the actual invoice when I click reimburse. The job is open. I can reimbuse items that are not inventory for the same job number. What do you suggest and thanks in advance.
Hi rquad3
Re sample files, the link you provided has a link to download samples.zip.
Re searching - yes MYOB's website searching is sub par - I use google or bing to search and add 'MYOB forum' to the search request, it has a better search engine.
Re items with C or T or I - this is a suitable work around. Can't see any problem provided linked accounts are set correctly. Some purchases will be expensed directly to the COG account and will not go to the inventory account - this should sort the Job Costing issue. This approach assumes you know when you purchase, which items and quantities will go to each job.
Re General Journal, yes correct in concept. However this can distort your Inventory Valuation Report reconciliation and runs the risk of forgetting to reverse the GJ. I would recommend creating and using 2 temp accounts such as 1-xxxx Inv Temp For Jobs and 5-xxxx COG Temp for Jobs or similar. This way you can readily see that there are transactions that need to be reversed, and the balance of the Inventory account will not be affected. Discuss best option with your accountant.
Regards
Gavin