Purchasing inventory

[Tut]

@Zab

I cannot choose “inventory on hand” in the assets list.

That is by design. Inventory on hand requires that you have predefined inventory items. Otherwise the transaction would end up in Suspense. And you cannot buy something for Inventory on hand that is not an inventory item.

For your freight-in question, see:

Allocating freight-in to the cost of inventory items when purchasing

When purchasing inventory items, freight-in represents the transportation cost associated with the delivery of goods from a supplier. For accounting purposes, the recipient adds this cost to the cost of the goods received. Let’s say you purchase an inventory item which has a $20 delivery fee. Rather than posting the $20 delivery fee to an expense account, you can add this cost to the cost of the inventory item. [image] By not entering anything into the Qty field of the second line item, the …