Non-stocked inventory

[dkobelt]

We are using PT 2008 for Distribution and my problem is with the inventory. We sell parts and maintenance contracts and when we code the purchase order for maintenance contracts we use "non-stocked item" and it is showing up as inventory. Any suggestions?

[rick Prindivill]

Quote "we use "non-stocked item" and it is showing up as inventory."

You have defined a Service Item under Maintain Inventory Items and now it shows up as Inventory. This is true, however, the item does not record or reflect Quanty's as it is a NON-STOCK item. Further, a Non-Stock Item does not reflect any Inventory Reports that provide value or transaction activity.

[dkobelt]

The problem is that it does show up as a value on my balance sheet. I need to eliminate it from there because it looks as though we have more assets than we do. These are third party contracts that I do issue a purchase order to the company that provides the service for me. I have an extra $185,000+ in non-stocked inventory on my balance sheet. Is there a way to remove it or do we have to continue to show it?

[rick Prindivill]

There is something more to your situation than is being expressed here. Non-Stock Items do NOT list a value on the Balance Sheet. You may want to print a General Ledger for the BS account listing this value and drill down until you find the source ie. a Purchase (AP) that was incorrectly coded.

[dkobelt]

We receive an order for maintenance and create a PO with 12 equal payments to our vendor. We then invoice our customer each month for one month of service. The problem is that the 12500 account is for inventory and it shows up as inventory on our balance sheet, even though there is nothing being received.

I need to know what to charge it to so that it won't show up on our balance sheet.

Thanks!

[Lisa_p]

What accounts are filled in on your non-stock items. Are you SURE they're non-stock type?