The disabled and inactive options for the Purchase and the Purchase (No Stock) Stock Item type are the same. If you select this Purchase or the Purchase (No Stock) Stock Item type on a purchase document or a supplier returns document, no Cost of Sales transactions would be generated. You will also not be allowed to select the Sales and Output Tax accounts.
Should you need to generate purchase documents or supplier returns documents to suppliers (creditors) for services, fees, charges or other purchases which is not trading stock, you may create a Purchase or the Purchase (No Stock) Stock Item type. You may generate purchase documents or supplier returns documents for these non trading Stock Items only or add these item codes to an purchase document or a supplier returns document containing physical Stock Items.
Some examples where you would create a Purchase or the Purchase (No Stock) Stock Item type, is the following:
•Purchasing services such as labour, consulting fees, etc.
•Purchasing goods on which delivery charges (fees), other charges, etc. is applicable.
•Purchasing goods (not for resale) such as stationery, etc.
To Create a Stock Item for Purchases (No Stock):
1.Click on the Stock Items button (Sidebar) or click on the Edit → Stock Items menu.
The Stock Item - List View default screen will be displayed.
2.Click on the New button. A blank Stock screen will be displayed.
3.Select the Purchases (No Stock) Stock Type. The Stock Entry screen is displayed as follows:
4.Enter the Stock Code, Description, Units, Reorder Level, Reorder at, Minimum, Extra Description as required.
5.Apply Invoice Discount - This is applicable to Debtor (Customer) accounts, as the percentage customer discount is specified on the Edit → Debtor (Accounting Information tab) menu.
6.Reports - Stock Group 1 / 2 - The reporting group to which you wish this service Stock Item to be allocated.
The description of Stock Group 1 or 2 you have entered on the Reporting Group Name field on the Stock Groups tab on the Setup → System parameters → Groups menu may be reflected in this list.
7.Click on the Ledger tab, if not already displayed.
8.Enter or select the following options:
a)Tax Select the Input Tax account. The Output Tax account field is disabled.
b)Weight - Optional - Enter Gross Weight and / or Net Weight if applicable.
c)Ledger - Select the Cost of Sales and Stock Control accounts. The Sales account is disabled.
i)Average Cost - The average cost price of your Stock Item cannot be entered at this stage. When you process purchases, the Average Cost Price will be automatically updated.
ii)Total Cost - The total cost price of your Stock Item cannot be entered at this stage. When you process purchases, the Total Cost Price will be automatically updated.
iii)Quantity on Hand - The quantity, or number of Stock Items on hand, cannot be entered at this stage. When you process purchases, the quantities will be automatically updated.
iv)Last Invoice - The date of the last purchase or other document generated on which the service Stock Item was selected. This field will not display any date if it is a new item, or if no Stock Items have been selected on any documents.
v)Latest Cost - The latest cost price of your Stock Item can now be entered. When you process purchases, the Latest Cost Price will be automatically updated.
Once you have created your new Stock Items, you may enter the cost prices and quantities in the Stock Take-on option of the Edit → Adjust Stock menu, if you have any Stock Item records on a previous accounting system.
9.Preferred Supplier 1 - Optional - Select a creditor (supplier) account and enter a supplier stock code if applicable.
10.Preferred Supplier 2 - Optional - Select a creditor (supplier) account and enter a supplier stock code if applicable.
11.Click on the Save button to save this stock item. The Stock Item - List View - Default screen will be displayed.
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