Note: This functionality is available only if you have the Inventory Add-On Module.
When you enter inventory into the system for the first time, post the balance to the general ledger using the account for startup inventory. Later when you allocate your actual inventory parts, you use this inventory startup account on the grid lines. This process transfers the balance to the regular inventory account in general ledger, leaving a zero balance in the inventory startup account.
| 1 | Set up the inventory accounts, valuation method, and offset account in 1-8 General Ledger Setup. |
| 2 | Set up the parts in 9-2 Parts. |
| 3 | Set up 12-3 Inventory Locations. |
| 4 | Post individual part inventory amounts in 12-2 Inventory Allocation by entering the part numbers, quantity of each part, unit cost, serial number, and the startup inventory account number and the destination (location). |
| 5 | On the File menu, click Save. |
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Setting up an inventory valuation method and offset account |
For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.
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