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What exactly is the difference between these Item Types in GP? "Misc Charges", "Services" and "Flat Fee". Is there any difference in terms of how they are posted and how the data is maintained in GP? I don't find any so far. Any idea? Thanks.
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No, it will not - nothing is debited for the cost of the item.
I know what the help file says, but I don't know what they mean by 'current cost' is not tracked. I've found them to behave exactly the same.
Here's the scoop:
Selling any of them doesn't create a COGS entry.
Services
Price pops in on SOP
Current Cost per card or last vendor pops in on POP
Current Cost is updated on the card from purchases
Vendor's price is changed
Quantity is not tracked in inventory
Quantity in sale/po is listed in Item Transaction Inquiry
Quantity sold is displayed on Item Inquiry Screen
Flat Fees
Price pops in on SOP
Current Cost per card or last vendor pops in on POP
Current Cost is updated on the card from purchases
Vendor's price is changed
Quantity in sale/po is listed in Item Transaction Inquiry
Quantity sold is displayed on Item Inquiry Screen
Misc
Price pops in on SOP
Current Cost per card or last vendor pops in on POP
Current Cost is updated on the card from purchases
Vendor's price is changed
Quantity in sale/po is listed in Item Transaction Inquiry
Quantity sold is displayed on Item Inquiry Screen
Other than Quantity on hand and it not booking cost of goods sold, they look the same to me. Hopefully, someone will post what the difference means.
Kind regards,
Leslie
Hi Leslie,
For Miscellaneous Charges, if costs are not tracked, will a cost of goods sold transaction be generated if there is a cost on the item card?
Thank you!
Kim
Sudin,
What you are describing is precisely how those item types act.
You can add any item type to a Kit, except a Kit.
You can update current cost in item maintenance.
You can use it on a SOP document or POP document.
My clients use the different types for different types of reports. Like Richard indicated, there is a 'typical' usage for the different item types. You can put them on a PO and sell them, However, quantities are not tracked, so you never have any in inventory and you cannot make item adjustment entries for them.
Kind regards,
Leslie
We have a chart in our Information Flow and Posting manual that details the differences.
Costs (such as subcontractor charges, etc) are posted to the GL when Services or Flat Fees are sold
Services and Flat Fees can be added to Kits but not Misc Charges
Quantities on Hand are not tracked for any of those types.
Generally speaking, Misc Charges are charges your firm puts on sales transctions to bill a customer for things like "Handling Charges"
Services are used to charges customers for Service Calls and such where a third party may be involved and may bill you for the service.
Flat Fees are very much like Service Charges but are usually pre-defined, such as $25 repair assessment fee.
Those descriptions are straight from the GP Help files Sudin. I'm not sure why the behavior in your system would be different.
Frank, Thanks for the response.
I did some test with each item type (in the fabrikam company), it seems like they don't follow different rules and all of them behaves the same way.
- I can update current cost in item maintenance for all 3 types.
- I can use all of them them as kit components.
- They all give distribution types "RECV" and "SALES" in Sales Invoice, posting journals are similar.
- The Item History Summaries are also updated with similar logic.
- I cannot change Item type for any of them in the Item Maintenance.
Sudin, here are the definitions of these Item Types
| Quantities and current costs aren’t tracked in Inventory. Miscellaneous charges include costs such as freight expense. You can’t change this item type once it’s assigned. Posting updates the Sales and Cash accounts. | |
| Services | Current costs, but not quantities, are tracked. You can sell these items individually or as part of a kit. Posting updates the Sales and Cash accounts. |
| Flat Fees | Current costs, but not quantities, are tracked. You can sell these items individually or as part of a kit. Posting updates the Sales account. |
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