7. Other Type
From TrueERP wiki
Other Type
Other Type - Do you understand how "Other" type product works?
Other type - These products are generally not purchased and track products for inventory only on the sales side. These load into a transaction, but do not purchase.
A few examples are:
- It may be a service you provide. Sales of Other type products are posted to the income account as for Non-Inventory Asset products as above. If you do purchase an Other type product the cost is posted as a negative sale to the Income Account.
- Intangible - where customers are charged for service or freight charges.
