Multiple Inventory Sales Accounts

Hello, I am trying to account for the sales of my widgets to different revenue streams - and I am not sure the best way to do it.

We manufacture 10 different widgets from 3 different divisions. We currently sell to 2 different types of revenue streams - general store sales and online sales. Each widget has it’s division, and can be sold in either revenue stream. I have sales accounts set up for Store sales and online sales and I want to track the revenue separately on my profit and loss statement. I also want to be able to track the cost of Goods Sold to separate expense accounts.

One way I can currently find that manager can do this is to set up each widget as 3 inventory items - one for the finished product - this is my main way of actually tracking inventory, one for store sales and one for online sales each with the custom income and expense accounts - I transfer the inventory from the finished to one of these at each sale using the production process. This is time consuming and returns require journal entries using this process.

The other way is to use journal entries to adjust the sales and COGS to the correct accounts. While this is the quicker method you lose a lot of the detail in the journal entries.

Has anyone else run into this issue? How do you work around it? Is there any development in the pipeline that may allow us to adjust the Sales and COGS accounts at the invoice level instead of the inventory level?

It’s possible to have multiple inventory sales accounts through Inventory Kits.

This means you can have one inventory item. Then several other inventory kits which are pointing to different sales accounts. No need for production orders manually converting items from one type to another.

However it’s not possible to have multiple COGS accounts for single inventory item.

Also, there are some improvements I want to do in upcoming weeks/months where you won’t even need inventory kit trick. When you select inventory item, you will be still able to select income sales account if automatic one is not suitable.

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