10 Other Type
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Revision as of 14:42, 26 October 2011 by Simon Clive (Talk | contribs)
Other Type
Do you understand how an "Other" type product works?
A New Product is created when you have the need to select it from the Inventory List when entering an Invoice, Purchase Order etc. New Products need to be set up as a specific Product Type to ensure correct data flow.
Product Types have been locked to prevent conversion from Non-Inventory to Inventory without taking into account the COGS still outstanding. Following is a list of theProducts Types available in ERP:
- Inventory Part - A physical product that has its amount tracked as inventory (it HAS a Cost of Goods Sold, ATTRACTS Income directly or indirectly, and IS considered an Asset)
- Non-Inventory Part - A product that has a buying cost but doesn't have its amount tracked. (it HAS a Cost of Goods Sold, ATTRACTS Income directly or indirectly, but it IS NOT considered an Asset)
- Other Type - A product that doesn't have a specific buying cost associated with it, but it is sold. (itDOESN'T have Cost of Goods Sold, it IS NOT considered an Asset, but MAY attract Income)
