Inventory group Codes 2

Inventory group Codes in WebAccounting 

To control inventory integration into the general ledger
Group Codes Setup in WebAccounting

Inventory Module> Configuration> Group Codes Setup

Enter Group Code : Code and Description and save

Enter Account that this group code item will post to

Save and close.

Link the group code to an inventory item

Using Inventory Groups to Control Integration

As noted earlier, each inventory group contains a set of general ledger accounts. WebAccounting  needs these accounts to know where in the general ledger to update transactions belonging to that group.

For example, you can create one inventory group for all your inventory items. All inventory activity will update the same general ledger accounts.

You achieve this by creating additional inventory groups, each of which contains its own set of general ledger accounts.

This gives you the analysis you require.

You also gain two additional benefits:

you can see the financial implications of groups of inventory items in your business

you can use general ledger budgets to budget inventory activity and track performance of these groups.

 Using Inventory Groups to Categories Items

Inventory Setup> Add

Instead of analyzing groupings of inventory in your general ledger, you may prefer to analyses them within your inventory system only.

You can generate many inventory reports using the inventory group sequence. These reports also give you totals per inventory group.