Hello. Is there any way to categorise our inventory/stock? I need Separate 3 categories in my inventory for my items. But not the default item group. Specifically for Inventory.
Did you try adding custom field “Category” in item?
No, I haven’t. Can you walk me through the details if you could. I just created a custom field called “Stock Category” and updated in the stock entry. But When I take the stock entry I can’t find anything there.
There are two ways to categorize inventory items, in relation to account (chart of accounts/GL).
Warehouse - is where you assign the account code for the item to be reflected in the Inventory account (under Current Assets). When you receive an Inventory item, it will be debited to the GL Account of the target warehouse. If in one warehouse you keep three different item categories (meaning debited to three different GL Accounts, you need to create three different warehouses even if they are in the same location.)
Item Group - the account of the Item Group will be used when the item is expensed (like cost of good sold). So, if you need three different cost of goods sold, you need to create three Item Groups.