Is an Inventory Kit supposed to decrease Inventory Items from stock.
With mine it does not. Maybe I did something wrong as usual.
Edit Screens
Creation of Inventory Kit
Invoice of Inventory Kit
Delivery Note
Inventory After Delivery
Secondly I do not want to hijack a post, but can a custom expense account not be included like the custom sales account?
Custom Account
I believe invoiced do not update quantities in your stores if you have enabled delivery notes to do that function. https://www.manager.io/guides/10676
@Patch I supplied an edit screen of the Delivery note as well, but it did not update the Inventory.
What is your basis of accounting, accrual or cash? If cash, the sale and movement are not recorded until you receive the money against the sales invoice. This is why many accounting standards and tax authorities require accrual basis accounting if you have inventory.
No. Inventory kit component cost of goods is posted according to the setup for the inventory items that make up the kit.
Also, I have given you this advice before, but I will repeat it. You need to do everything you can to stop thinking about these parts as a service. While you can name the inventory kit anything you want, it could be misleading to call it Fire Extinguisher Service. It would be clearer to call it something like Extinguisher Service Parts Kit. You may remember what the kit is, but as your business grows, others may not understand the difference.
@Tut The basis is accrual
@Tut Ok but this makes it Is difficult, because there will be no GP per Inventory Item. It is easy to say no and although Manager is a very easy program maybe we should also do changes to the program in order to assist the users.
Ok @Tut for your benefit let us call it Extinguisher Service Parts Kit.
Possibly I will see the difference when the business grows.
Yes. Since you are using accrual basis accounting, have issued a sales invoice including the kit, and created a delivery note, the quantities on hand and quantities owned should reflect the reduction of kit components. When I test this, everything works correctly.
Your screen shot of the Inventory Items tab does not illustrate any problem, because we do not know what the quantities were before the transactions. Drill down on the Qty on hand figure for Pull Seal and show the result. Also verify that you actually created the sales invoice and delivery note. It is easy, when testing, to forget to do that when simulating transactions.
Assuming that GP is being used for gross profit, that is only partially true. If your chart of accounts is constructed properly, gross profit will include the reduction of income by cost of goods sold, including the costs of inventory kit components. You will not get a gross profit per item, but you do not get that for any inventory item, whether sold individually or by kit. To compound your problem, the Inventory Profit Margin report excludes items sold in kits. This is because the sales price cannot be allocated among the components. (Kits are often sold for less than the sum of component item sales prices.) Therefore, the margin including kit sales cannot be calculated, only the margins for individual sales. If you sell a lot of kits, as will probably be your situation, that particular report might not be very useful to you. But it will still be possible to back out the profitability of the kit; it will just take a little work outside Manager. I cannot imagine that will be an issue for you, however, because you know the costs of the parts and you know the amount you charge for the kit.
@Tut Wow this is a mouth full. Please give me chance to read through it and then re-do it to see the results. It is possible that a mistake could probably be from my side. As I have said I am a slow thinker
I will keep you posted.
@Tut This is easy for me to test, because I am not live yet and can delete and create whatever I need to thanx to the user friendly and way Manager has been designed.
@Tut Yes you are correct. The Inventory has been deducted.
@Tut With regarding to my situation it is a pity it can not be done. I will do these calculations in a excel spread sheet then. The rest of the reports I am working with are very well structured so far.
Does this mean we have been discussing a non-existent problem?
@Tut Jip, I am sorry. I did not know it is an existing problem. I did tell you I am a slow thinker.
I am not sure what you mean by this. It is not an existing problem for the program. You are the only one who has reported it.
You started this thread by reporting that sales of inventory kits were not reducing inventory quantities. That would be a big problem. By the time we got to post #9, you said that inventory was being deducted. That implies your report of a problem in post #1 was not correct. That is the non-existent problem I am asking about. In other words, was your report that quantities were not being deducted incorrect? If so, why? Did you, in fact, forget to create the transactions involved?
@Tut that is exactly what I mean. We have been discussing a non-existent problem, but I was not aware. It did seem to me like a problem. After our discussion I re-did the transaction as I said according to your advice and guidance and then the “problem” was no more.
@Tut read again I did not make any accusations regarding the software or anybody for that matter. It was a simple question I have asked where I even blamed myself for being stupid. Maybe I do not understand what you are saying. I do apologise if I understand you incorrectly.
I did not suggest you did. I was only trying to clarify what you meant. In the process of doing that, I tried to explain why your comments were a little confusing. You have now resolved all confusion.
But I am still interested in learning why you initially thought inventory was not being deducted? None of your screen shots or posts explain that.
@Tut My comments are confusing yes, because we were not created the same. Some people are smarter than other. I am part of the other and I am not ashamed to say that. I actually am proud to say that.
I can explain this very easily I am sorry to have raised this issue. I still want to repeat what I was saying above. I am not of the smartest people on earth, but that is no excuse.
I simply made a mistake as I have said right in the firdt post
Please note “Maybe I did something wrong as usual.” I did something wrong. I have read the totals of the Inventory wrong. It did not appear to me that it was deducting the inventory items.
As I said before I am sorry. My intention was not to waste anybody’s time.
No time was wasted if you learned something about the program. And no apologies are necessary. Let us know if you have any other problems.
@Tut thank You, yes I will definitely contact the forum if I need assistance or help on something.
