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What is the preferred method (if any), to simply ignore inventory counts for the sale of software product licenses. Yes, I realize we could just set a beginning balance of 99,999 in stock, but this seems uncessarily complex and burdonsome in this day and age, where non-physical products are routinely sold.
Thanks,
John
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Hi John,
No I can't see why it would bite you in the future. If you select Miscellaneous as the item type, the quantities and costs aren't tracked. If this is software licences fo software you are producing yourself, then I don't see an issue. If you are a reseller you may well want to track quantities...as you will be buying licences for re-sale etc. GP doesn't specifically have an item type for software licence sales, but there are about 6 or 7 inventory types with different attributes, that handle most situations - including software licences. If you open an item card and review the help file, you should be able to find a full description of what each type does. Maybe review this before you decide finally.
The only other restriction in choosing this type is that you won't be able to post inventoy transactions (ie: incease / decrease adjustments etc). but since you aren't tracking quantities, these types of transactions aren't relevant anyway.
My advice would be to create a test company and run some transactions through it and see how you get on.
Best regards,
Thanks for the suggestion.
Do these inventory 'types' have any other implications? They seem definately appropriate, as far as not posting balance sheeet amounts (whew... that wouldn't be good to have millions suddenly go on the balance sheet). But if I enter our software with an inventory type of Miscellaneous, won't that bite me at some point? I guess I continue to be somewhat shocked that GP doesn't take into consideration software as a typical type of saleable item.
John
Hi, you could set your inventory type to be 'Miscellaneous', 'Service' or 'Flat Fee'. None of these inventory types tracks quantities (or current costs). No inventory or cogs postings will be generated when you sell these items, just sales and receivables distributions. The Inventory Type field is on the Item Maintenance window..
Best regards,
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