FrontAccounting forum — Generic items (plants) with large price range

Re: Generic items (plants) with large price range

null@example.com (alaw) — Tue, 03 Jul 2012 20:47:32 +0000

Thanks again, I'll set up test item and see how that works. Thanks for such quick response

Re: Generic items (plants) with large price range

null@example.com (joe) — Tue, 03 Jul 2012 20:01:12 +0000

If you purchase services from suppliers this account will be used when purchased instead of the inventory account.

Joe

Re: Generic items (plants) with large price range

null@example.com (alaw) — Tue, 03 Jul 2012 19:52:12 +0000

Thanks Joe, I get the idea and will have look although not sure it solves my problem as my wife is often sourcing plants from elsewhere so aren't manufactured.

I've had a thought that I could create a service item called "Plant sourcing" when I don't want to worry about plants stock. Only issue I suppose is how do I account for the cost of those plants i.e. what was paid to the supplier?

Another question - when I create a service item what is the COGS account used for?

Re: Generic items (plants) with large price range

null@example.com (joe) — Tue, 03 Jul 2012 06:41:24 +0000

You can always void the transactions and reenter them.

If you have large set of plants, you should consider using Assembling in Manufacturing. First create a manufactured item, call it bundle_plants and create a Bill of Material for it, 100 items of the $4 plant. I hope you can see the idea, right?

/Joe

Generic items (plants) with large price range

null@example.com (alaw) — Mon, 02 Jul 2012 21:55:09 +0000

My wife has a gardening business where she provides garden design services and sources plants for customers with a variable mark-up. For one job she gave a fixed price e.g. $400 for all plants supplied but other times price is per plant. I don't want to set up items for each plant variety as this will be overkill for the (small) size of business.

I have an item called "plants" and used this in first invoice (direct invoice) with a price of $400 and quantity of 1. Then for next invoice I charged per plant, e.g. 10 plants @ $4 each. This is all fine by the COGS is now all wrong and balance sheet/P&L have incorrect and meaningless numbers. How can I set up system to handle this? Also, how do I fix the previous transactions where this has gone wrong?

In fact, I am having issues understanding this whole area - I'm trying to move from Quickbooks Accounting but this use of items is making really hard.