Class ID - Manufacturing vs Finished Product Sales

(0) Share

Report

Posted on by Benson

1,090

Hi All,

Thanks for your advise in advance..

We have set up a Class ID for Manufacturing in which there are GL Accounts for Raw Material Inventory, PPV..

However when we sell the Finished Product, after the production is done,

1) We should have another Class ID for Finished Product Sell , am I correct?

2) I have notices that there is only one Inventory GL Account which has already been occupied by Regular Raw Material; how about if we have 2 difference kind of inventory, for instance Packaging Raw Material Inventory & Raw Material, where could we put a Packaging Raw Material Inventory GL Accounts in Account set up?

Please advise.

Thanks.

*This post is locked for comments

I have the same question (0)

All responses (1)

Answers (1)

Verified answer

Community Member on at

Like
a
(0)

Report
Copy link

Link copied!

We do have multiple class created for classifying inventory as FinGoods, RawMaterial, products types. Each class has its own set of GL accounts. Apart from that, class id also forms a major reporting key field. Packing material is treated as floor stock expense.

Cheers!

Sanjay

Was this reply helpful? Yes No