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Good Afternoon,
How do I setup an Item in GP so that all costs hit the P&L directly? I don't need inventory on hand for this item.
I've seen some things about marking it as "services" but I was hoping to get more information on how it works and if there are additional steps needed.
Thank you for your help!
Kristin
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Hi Leslie,
This product won't be sold--we only want the cost to hit the P&L directly. This is for R&D items where we want it to consume materials and want the cost of those materials consumed to hit the P&L directly.
Hi,
When you say 'hit P&L directly' do you mean you want it to go to P&L right when it is purchased? If so, Jeffery has the right answer for you. If you've already set it up as a sales inventory item, clear out the balance and change it to services. If it won't let you change it through the UI, you can go behind the scenes to the INV00100 table and change the item type.
Kind regards,
Leslie
Hi Kristin
I have a number of clients who do the same as you would like to do.
I usually setup a default class so information can roll down.
I set the Item Type as Services.
Mark the maintain history boxes
You need to make sure that you populate an account number for:
Inventory
Inventory Offset
Cost of Goods sold
Even though these are not used, the system when posting in SOP will require accounts to be there even though the amount will be $0.00
For each item you can then enter the Revenue (Sales) account and also enter the Sales Returns account.
If you only have one Revenue account, then you can default from the class
Try this out in a test company.
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