To know more, please visit our website or contact us directly. Let Versa Cloud ERP handle the Inventory Management process This cloud-based program works on desktops. The total cost of the finished product now includes the raw material cost and additional services cost performed by suppliers B and C. For small businesses or start-ups, Zoho Inventory lets you add items, fulfill orders and view inventory from any device, making it the best free option. By doing this, the system will take the raw material cost from supplier A, additional cost from suppliers B and C, and added to the inventory cost of the finished product. Then choose the PO to supplier C (with the zero PO total) to allocate the cost to (enter the PO number to search). When entering the bill item, choose to Allocate Bill Item Costs to Shipment Receipts. Then businesses need to recognize the additional cost to the finished product, users would create a bill for suppliers A, B, and supplier C (using the Link to PO item feature on the billing page to bring in the PO details). After this, the inventory value for the finished product is zero since the PO value is zero. Receive the finished product from supplier C. You can do this when supplier A has sent the raw material to supplier B or do it all at once when the finished product is shipped to you. The total cost of the finished product now includes the raw material cost and then additional service cost performed by suppliers B and C. By doing this, the system will take the bill amounts to suppliers B and C and added to the inventory cost of the finished products. Real time information on the flow of materials brings you the transparency you need to cut out the warehouse and send materials directly to shops. Then choose the PO to supplier A to allocate the cost to (enter the PO number to search). Our data models ensure lean inventory management, positive cash flow, and supply chain resilience. Then we need to recognize the additional cost to the finished product, you would create a bill for supplier B and supplier C (using the Link to PO item feature on the billing page to bring in the PO details). 13 Types of Inventory There are four different top-level inventory types: raw materials, work-in-progress (WIP), merchandise and supplies, and finished goods. This will only capture the cost of the raw material. When you receive the finished product from supplier C, you would receive the first PO (to supplier A). Create a PO for the additional service to be performed on semi-finished products to supplier C. Create a PO for the additional service to be performed on raw materials to supplier B. We will capture the additional cost later. The cost on the PO is the cost for the raw material only. Steps Create a PO for each of the suppliersĬreate a PO for the finished product to supplier A.
0 Comments
Leave a Reply. |