ECN Electrical Forum - Discussion Forums for Electricians, Inspectors and Related Professionals
ECN Shout Chat
ShoutChat
Recent Posts
Does NEC 551.71 (F) apply to dwellings?
by BigB - 01/20/23 10:46 AM
Violation?
by HotLine1 - 01/19/23 09:10 AM
Power submeter connections
by HotLine1 - 01/19/23 09:09 AM
AFDD's coming to the UK
by Texas_Ranger - 01/17/23 07:22 PM
New in the Gallery:
Burger King crown sillyness
Burger King crown sillyness
by wa2ise, December 11
240/208 to a house
240/208 to a house
by wa2ise, October 9
Who's Online Now
0 members (), 134 guests, and 16 robots.
Key: Admin, Global Mod, Mod
Previous Thread
Next Thread
Print Thread
Rate Thread
#156055 03/09/05 08:28 AM
Joined: Mar 2005
Posts: 88
J
JFLS41 Offline OP
Member
When you obtain materials from your supplier, do you enter them into your accounting software as inventory or do you just bill them out without doing this seeing the customer has already purchased them?

Thanks

Latest Estimating Cost Guides & Software:
#156056 03/09/05 10:07 AM
Joined: Mar 2005
Posts: 88
J
JFLS41 Offline OP
Member
let me rephrase that when you receive supplies directly from supply house that are going to be used on a job for a customer, is it acceptable to not itemize these supplies as "inventory" in your accounting software and to just list them as "materials" under one lump sum for that customer? i would like to hear how others do this...and your method of bookkeeping?

#156057 03/09/05 07:02 PM
Joined: Oct 2003
Posts: 259
J
Member
My accountant says, no inventory. You buy the stock for a certain job and bill it out like that.

#156058 03/09/05 10:29 PM
Joined: Feb 2005
Posts: 219
S
Member
No inevntory is best. Let the Parts House be your inventory,

#156059 03/10/05 09:32 PM
Joined: Jun 2001
Posts: 642
N
Member
If you purcase parts and materials for a job bill it to that job in your accounting program. Any thing left over can be transfered to inventory later. Be careful of this. Some states will charge you a property tax on inventory on hand at the end of a year. Also a large inventory will have items that just occupy space for years if you let them. Any inventory has cost you money and will continue to cost storage space untill the item is used. If you chose to keep inventory be sure it is used regularly. How often depends on how much money you want to tie up is have items on a shelf.


ed

Link Copied to Clipboard
Featured:

Tools for Electricians
Tools for Electricians
 

* * * * * * *
2023 National Electrical Code (NEC)
2023 NEC Now Available!
 
* * * * * * *

2020 Master Electrician Exam Preparation Combos
2020 NEC Electrician
Exam Prep Combos:
Master / Journeyman

 

Member Spotlight
HappyElectrician
HappyElectrician
Penn USA
Posts: 31
Joined: December 2011
Top Posters(30 Days)
BigB 9
triple 3
Popular Topics(Views)
302,348 Are you busy
231,749 Re: Forum
216,375 Need opinion
Powered by UBB.threads™ PHP Forum Software 7.7.5