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Add Inventory as a by-product

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timjea View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote timjea Quote  Post ReplyReply Direct Link To This Post Topic: Add Inventory as a by-product
    Posted: 14 Dec 2011 at 5:24pm
I am a beekeeper that buys/sells bees/bee equipment, provides bee managment services etc.  I'm stubbling in trying to figure out the correct way to input the honey as an inventory item which I then sell.  the amount of honey is not tied to any specific activity and I can't forecast it based on number of beehives or anything like that.  I have input honey twice this year as a direct receive and used the cost of production per lb as a calculation of expenses.
 
Should I maybe setup a different adjustment reason code?  I don't like using the Cycle Count reason code as it then appears along with my other adjustenments that are adjustments to inventory typically due to some error, and this isn't an error, it is a sellable product that is a by-product of other activities. Next year I will face a similar situation as I begin collecting Pollen which is an identical process.
 
I'm using ABC Inventory. The part number is simply HONEY and its unit of measures is LB.
 
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BillD View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BillD Quote  Post ReplyReply Direct Link To This Post Posted: 15 Dec 2011 at 12:13pm
Yes, of course. Create new adjustment code and call it "honey production" or something like this. You can always rename it later without affecting anything. You can also create a negative adjustment code and call it "production expenses". Adjust  supplies down against this code.
 
 
I am not sure if you had other questions in your post.
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timjea View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote timjea Quote  Post ReplyReply Direct Link To This Post Posted: 15 Dec 2011 at 9:28pm
Thats pretty simple, then it simply group them seperately for "errors" and make my accounting easier.  There were no other implied questions at this time.
 
Thank you for the response.
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