Item and Item Group DocTypes have Purchase and Selling Defaults (Default Expense Account, Default Income Account), but both Item and Item Group do not have Default Inventory Account.
The closest setting for the inventory account of an Item is at the warehouse level where you can set the Default Account.
This means that the warehouse carries both location and accounting responsibilities. This is okay if all the items in this warehouse will be recorded in the same inventory account (Stock-in-hand), but if you have items with different inventory accounts in the same warehouse (Raw Materials, Finished Products), you have to set ‘artificial’ warehouses for each item type or group.
I would like to suggest that Item and Item Group will have Default Account which will take precedence before Warehouse.
To determine the account for the item in the chart of account, the Item default account will be checked first. If it is not set, the Item Group default account will be checked. If it is not set, then the Warehouse account will be checked (the original set-up).
Agree, hopefully this request can be implemented soon
I faced the same issues here. We expect to have inventory accounts on par with sales and COGS account. Based on my experiences after years of implementing SAP Business One, there should be preferences when choosing G/L Account (screenshot attached)
Thank you for the actual screenshot from SAP. I think this feature would enhance the enterprise-level capabilities of ERPNext.
This feature needs to be coded in the ERPNext core. It is possible to code this at once, but it is better if the ERPNext team could provide the Outline or Flow of what they think is best for this feature.
- Just high-level meta code descriptions of what is needed. For example:
- Do we place a dropdown box to the Item form/doctype for the Set G/L Accounts by - with Warehouse, Item Group, and Item Level choices?
- Do we add this dropdown also to the Company settings?
It would be nice to have ERPNext team’s direction on this because this could prevent buggy implementation by those who are willing to work to contribute code on this, but might end up wasting coding hours because their (contributor’s) implementation is defective at the onset.
So, if ERPNext team could provide the Meta-Code to set the direction on this, this could be implemented quite quickly.
will be better if this solution added on version 13
Definitely an important feature to have.
I would like to see us able to set GL for inventory, fixed assets, accum depr, depreciation expense, write-off, revenue, direct expense at the Item/Item Group + Warehouse level.
Would go a long way towards making controllership better
Hi, any update on this? Can we now set inventory account at item / item group level?
You can define the income account/expense account in item or item group level. It’s available now.
Thanks but the query is for inventory account and not for income / expense account.
Inventory account can be defined on warehouse level you can set default warehouse to items