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Good day All,
How do you purchase and subsequently sell a non-inventoried item? How is this recorded in GP?
We don't have this ticked in the SOP setup, initially this may not have been an option, but I was asked the question and I need to better understand how this can work.
Regards,
Rosemary
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Hi Rosemary,
This can be a very confusing situation when you deal a lot in non-inventory items. I have a client where most of their sales are drop-ships from vendors and there are thousands of items they sell that they do not have an inventory card set up for. When your dealing in non-inventory transactions, posting accounts become real important. When you first buy the item , you will get a debit to Purchases or to the account you have selected. Since 'non-inventory' are not tracked a thoroughly as inventory items, you might have some reconciliations on your hands. Bear in mind that the drop-ship items do not go through your inventory module 'per se'.
With which types of items are you running into a conflict?
Leslie
Hello Rosemary! There is no classification for 'non-inventory' items. If the item is not entered in IV, and you have the setting under SOP (Sales >> Setup >> Sales Order Processing >> Options button) to enter Non-Inventoried Items, GP will allow you to enter a non-IV item.
Rosemary, if you add the item to Inventory and set the Classification as Sales Inventory you have now created an Inventory item
The name may be misleading but the idea is that these non-inventory items are objects that while you may sell them or buy are not part of your regular inventory - but to get them on a PO the system needs to know how to 'classify' the item and that is either Non-Inventory or Inventory.
If I have this wrong, can someone else comment and correct.
Thank you for your response and yes he did give a very good explanation of how this will be handled, when I tried to do an invoice with a non inventory item it did ask if I wanted to add the item.
At this point will the category be 'Sales Inventory'? Is the item setup the same as the inventory item.
Rosemary
Rosemary, GP will not know it is non-inventory, but you will tell it (1) at the time you set up the item and or (2) when you receive an item that was not on a PO and you enter an item number - if the system does not find the item in the list of items it will prompt the user to either set up the item or continue as a non-inventory item.
Mariano gives you good explanation on how the system manages what you create as non-inventory.
Hope this helps in addition to what he has posted.
When you purchase a non-inventoried item, GP will record it in the Inventory Purchase Receipts table group. In SOP you can then add this item to orders and invoices and GP will deplete it. The only difference is, it's left up to you to keep track of your non-inventoried items since there's no place in GP you can inquiry them, UNLESS you create a SmartList or a report to retrieve information about them. Also, the Item Number you use when purchasing the non-iv item must be the same used when selling it, otherwise you may be selling something you don't really have in stock. For example, if the item number you purchased is WIDGETS you must use that same item code when selling, i.e., you cannot use something like WIDGET or GP will understand it as a totally different (non-inventoried) item.
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