Hi All,
I have a product line which I sometimes outsource the assembly process to the 3rd party and sometimes, I assembly it in-house. For both processes, I buy raw materials and have them snap the pieces together.
1. For the outsource, do I need to create a BOM to record the assembly process? Like, create a job which is debit WIP and credit inventory. Then when the product is finished, debit Finished Goods and credit WIP. Also, when it comes to cost, should I create an item group for this process and use the Standard Costing Method? Is there a simple way to handle this? Ultimately, I'm not manufacturing anything.
2. For the in-house assembly, do I need to create BOM? Is there an assembly or a bundling process? If so, how to set it up? Thanks so much!
