Default Item Accounts
Use the Default Item Accounts form to enter the accounts that will be used by default in ERPlite. Default accounts can be assigned to the following categories: Assembly, Group, Inventory Item, Non-Inventory Item, and Service.
- Inventory Item A distinct part that can be specified separately in a group of things that could be enumerated on a list.
- Non-Inventory Item Obsolete defective or other items not to be counted must be removed or segregated, and those items are Non-Inventory Items.
- Cost of Goods Sold COGS) A figure reflecting the cost of the product or good that a company sells to generate revenue, appearing on the income statement as an expense onto itself. Also referred to as "cost of sales".
- Service After-purchase assistance that is offered by the manufacturer to maintain the quality of the product during its use.
- Assembly An item forming a portion of an equipment, that can be provisioned and replaced as an entity and which normally incorporates replaceable parts or groups of parts.
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