Prerequisites

  • Active PartsLedger Account

Inventoried vs. Non-Inventoried

  • Inventoried parts are any part costed to a ServiceTrade job
    * Parts that you count and store in inventory to use later on a job (filters, extinguishers, or other standard parts)
    * Parts that you buy directly for a job, even if you never store them on a truck or warehouse (ex: miscellaneous material, obscure parts, or sub-contracted labor)
  • Non-Inventoried parts are parts that are expensed directly to an expense account upon receipt. Common examples are consumables and shop supplies

*PartsLedger PO line items are costed to ServiceTrade jobs via the "Link to Work Order" drop down field. When items linked to Jobs/Work Orders are received, PartsLedger creates two transactions on the General Ledger:

  1. A credit to Accounts Payable and debit to Inventory, and then immediately...
  2. A credit to Inventory and a debit to WIP (and a sub account corresponding to the Work Order/Job)

Because the costs associated with that item are transacted into, and immediately out of the Inventory GL account, items purchased directly for Jobs must still be classified as "Inventoried Items"

Product Categories

  • Items can be set to always be costed to a specific expense account by creating a Product Category and associating the Category to an expense account from your Chart of Accounts.

To create a new Product Category

  1. Navigate to Products > Set up > Categories
  2. Click the Add new category button
  3. Name the Category
  4. Select "For Purchase." Deselect "For Sale"
  5. Select the appropriate account in the Expense Account dropdown (revenue account is not required if "For Sale" box is un-checked)
  6. Click Create Category button

To create an Inventoried Product (Part) in PartsLedger:

  1. Navigate to Products > New Product
  2. In the Stocking Information area, make sure the "Keep inventory for this product" button is selected
  3. Enter the Part Number and Description (both required) for that part in the Stocking Information area
  4. Select your Inventory account from the "Inventory GL Account" drop down
  5. Select the appropriate category in the Related Category drop down in the Trading Information area to assign an Expense Account/Category to the item
  6. Click Create Product button

To Create a Non-Inventoried Part

  1. Navigate to Products > New Product
  2. In the Stocking Information area, select the button marked "Do not keep inventory"
  3. Enter the Item Code/Part Number in the Trading Name field and enter in a Description
  4. Select the appropriate category in the Related Category drop down in the Trading Information area to assign an Expense Account/Category to the item
  5. Click Create Product button

Notes

  • All fields in the Create New Product and Parts screen should be set to "EA". You can later create bulk purchasing Units of Measure and assign them to Parts.

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