Create a New Part - Fishbowl Inventory Tutorial
https://partner.fishbowlinventory.com... https://www.brandowconsulting.com/
Learn what factors to consider when deciding on a part type. See how to create a new part.
I'ts best practice to have 1 or 2 people in your company with user rights to create a new part. Don't allow everyone to create new parts.
Part Types
Inventory - Shows up on the Balance Sheet. Tracks qty, location, value. As an option tracks lot, revision, serial, expiration and other custom tracking
Service - traditionally something sold or purchased. Has an actual cost when received or manufactured and a standard cost when consumed or sold. Expense account is credited when consumed. COGS account is credited when sold. The cost can be landed in the reconcile wizard.
Labor - Traditionally something consumed in a work order. Expense account is credited when consumed.
Overhead - Same as labor
Capital equipment - fixed asset
Internal use - expensed when received.
Non - Inventory - Tangible item you can hold in your hand. Will show up on the pick ticket and the packing slip. Does not track quantity, value or location. Will always show as available to pick. Has an actual cost when received or manufactured. Has a standard cost when consumed or sold.
Shipping - Expense, COGS and Accrual accounts. The only part with it's own accrual account. Can be landed in the reconcile wizard. Accrues when the cost is tracked in the shipping screen. Accrues when a charge is separate from the Vendor invoice in the reconcile wizard. Actual cost when received.