Inventory - Accounts

1

Note these accounts can be overridden at the item level - initially assigned at category

Item	Description	Category	Purpose
2	Inventory adjustment	General	This is used as the offset account for an inventory adjustment using the inventory adjustments screen
3	Inventory- in -transit	Inventories	This is your system controlled inventory account. This account will be used in logistics when goods are shipped but not yet received - "on the water"
4	Sales Account	General	This is the sales account used when these items are invoiced
5	Cost of goods	General	This is the cost of goods sold account used when these items are invoiced
6	Inventory	Inventories	This is the system controlled inventory account used in all inventory transactions - receipt of goods, Inventory adjustment, Shipment of goods
7	AP Clearing	AP Clearing	This is the system controlled account used when goods are received and not yet vouchered.

Item	Description	Category	Purpose
1	Service Charge Account	Service Charge	This is the Credit account for service charges charged in the service charge function in AR

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