Map Expense with Product Asset

[Sarang]

Hello Team,

I appreciate your quick responses. At present, I am trying to see the applicability of ERPNext for one of our Clients, and hence I am posting a question / day. The client comes from Quickbooks background.

I am unable to map the following scenario in Accounting:

1. I have an Inventory Item AB001 valued at USD 1000 based at a private, leased warehouse.

I ask the Warehouse to change the item location from Location A to B, and the Warehouse charges me USD 10 for this service.

Business Scenario - I should be able to add USD 10 to the Product Asset value so that when I sell the product, I understand the till-date inventory value of AB001 (including all expenses I incurred so far).

Appreciate your advise to help me map this scenario. The Inventory that I have is carried forward from last year.

Thanks in advance

Sarang

[Rushabh Mehta]

Btw, in your stock entry you can set the incoming rate in the item table.

@rushabh_mehta

via mobile

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[Rushabh Mehta]

How does quickbooks maps this?

@rushabh_mehta

via mobile

On 12-Aug-2014, at 3:48 PM, Sarang <sara...@gmail.com> wrote:

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[Sarang Deshpande]

Thanks for your response Rushabh.

I can't use Material Entry since this is the inventory already present in my Warehouse (I imported the old inventory into the System).

As for QuickBooks - it is handled like this - 

1. Create entry of Expense against a temporary ledger and credit Accounts Payable for the Vendor

2. Adjust inventory value of a particular batch of a product inventory

3. The inventory adjustment process has map for the temporary ledger in step 1 for Credit and inventory valuation ledger for debit.

How can I adjust the inventory value in ERPNext?

Thanks

Sarang

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Regards,

Sarang

[Rushabh Mehta]

On 12-Aug-2014, at 9:52 pm, Sarang Deshpande <sara...@gmail.com> wrote:

Thanks for your response Rushabh.

I can't use Material Entry since this is the inventory already present in my Warehouse (I imported the old inventory into the System).

I was thinking we can do a stock entry in and out of the same warehouse, but with a different value...  But that does not seem to work - (raised an issue - https://github.com/frappe/erpnext/issues/2058)

You can do a Stock Reconciliation - that will surely work.

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