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#156055 03/09/05 09:28 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

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#156056 03/09/05 11:07 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 08:02 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 11:29 PM
Joined: Feb 2005
Posts: 219
S
Member
No inevntory is best. Let the Parts House be your inventory,

#156059 03/10/05 10:32 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.


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