Inventory Flag Defaults

Inventory Control Menu -> Sales Inventory / Rental Inventory -> Inventory flag defaults

The Inventory flag in the Sales Inventory and Rental Inventory tables indicates whether the product is inventory merchandise or is part of your rental fleet.
 Items flagged such as re-rental items or office and store equipment should be flagged as not part of the inventory.

Products that are not inventory products will still be included in the Inventory Search, but will not be included as part of the total value when the Inventory Value Report is printed.

When new sales and rental products are created by the system, the Inventory Yes / No flag defaults according to the type of GL account assigned as the "Inventory" posting account in the Rental Product Class or Sales Product Class.

•If the "Inventory" posting account is an Asset or Liability type GL account and would appear on a "Balance Sheet", then the Inventory flag on the new product is set to Yes.

•If the "Inventory" posting account is an Expense or Revenue type GL account and would appear on an "Income Statement", then the Inventory flag on the new product is set to No.

This flag can always be manually changed in Sales Inventory and Rental Inventory.

In Purchase Order entry when a Sales or Rental product is ordered that is not flagged as inventory, the option is provided to change this Inventory flag if the operator has Security Role Permission to Change Inventory Flag During P.O. Entry as set in the "Document Field Access".

Note: Any products assigned to a Rental Product Class that is designated a Re-Rental class will always default the Inventory flag to No, regardless of the GL account.

Programs that respect this default include:

Add Rental Products
 Add Sales Products
 Clone Rental or Sales Products
 Transfer Rental to Sale
 Data Import
 

Topic Keyword: IC_FLAG