Financial processes in the Inventory application

Eight accounts are associated with inventory records that are used for inventory transactions, for material receipt transactions, and for material usage transactions.

Inventory accounts default to the type and location of the item. Additionally, items can have item and location-specific accounts.

To establish the default inventory general ledger resource account code, use the Inventory Resource Code window in the Chart of Accounts application.

To establish the default account codes for location accounts, use the Inventory-Related Accounts window in the Chart of Accounts application.

Also, when adding a storeroom in the Storerooms application, you can specify the default account codes on the Storeroom tab.

When you add items to storerooms, the storeroom location accounts are used as the default for that item or location record. When you specify an item type, the general ledger resource account code is used for that item type as the default.

To edit codes assigned to the storeroom location accounts, display the fields in the Inventory application. Editing the code by using the Inventory application changes the code for the item and location record that is shown.