Inventory for project accounting

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Posted on by Deanne CWCO

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Accounting wants to purchase items in bulk quantities - to be used for Projects that will be set up in Project Accounting.

They want to create inventory items to keep track of quantities

This would mean moving the items in and out of inventory and then into Project Accounting to the designated project.

Part of me is thinking this may be easier if one project is used as a 'holding' project. When an item is to be used, it can be transferred to the designated project.

The company doesn't have true inventory items - it's not a manufacturer or resaler.

Has anyone else encountered this situation? Suggestions?

Categories:

Financial Management

Project Accounting

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Isaac Olson on at

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RE: Inventory for project accounting

Hi Deanne,

Is is possible for them to just mark Inventory as Registered in the Company, and then create these bulk items as Inventoried Items in Microsoft Dynamics GP? That way they can track this inventory quantiles easily and purchase them in bulk without any association to a Project.

Then when you do it this way if you set up their budget/cost category as Purchase Material and check the 'Inventory Item' checkbox, you can transfer portions of that bulk inventory to various Projects via an Inventory Transfer in Project Accounting.

Is you use non-inventory items in GP, then its not going to track the quantity for you.

I hope this helps.

Thanks!

Isaac Olson

Microsoft Support