What would be the best way to book items out internally ?
For example if I have a vehicle that I am going to sell but that vehicle needs parts that I have in stock.
Currently I enter the vehicle as an inventory item when purchased, (not sure if this is the correct way)
It would be nice to book the parts out to that vehicle so I remember what was used and help work out the profit.
Should I use Tracking codes and Inventory write-off?
Are there any other ways to achieve this?
If every vehicle you have is unique (e.g. you never have more than one), then I think more appropriate would be to create these vehicles under Fixed Assets.
If you use inventory parts to fix the vehicle, then you could do Inventory write-off of inventory items you have used up and put it against the fixed asset (vehicle). The problem is, you can’t currently select fixed asset when doing inventory write-off but I think I can add this ability.
Thanks for your help.
I have entered vehicles (motorcycles) into inventory so that when I sell the motorcycle I can give the customer/new owner the sales invoice with details of warranty in the notes section. This has worked well for several bike sales.
How would I sell the bike if it was under assets in a separate account?
I did consider just creating a sales account called Bike sales and expense account called bike purchases but settled for inventory items as it was made for it.
Yes, every new bike is a new inventory item. I use the registration number as the SKU then enter cost and sales price & description.
I will try entering a bike in fixed assets then try booking out/selling in in my dummy business.
I have several fixed assets already though which I have a schedule to depreciate them, this will probably clutter up my reports won’t it?
I have just tried your method but when I click on account on the sales invoice only income and expenses are available to choose from the drop down menu.