Asset & Expense Items

Transaction
S.No Item Attribute Item known as Sub-Inventory Examples
Known as

Inventory Inventory Quantity Asset Sub

Item Asset Value Tracked Inventory

All Raw materials,

1 P P Asset Item P P Asset into Asset SI Sub-Assemblies and
Finished Goods

Asset item Kerosene

issued to
2 P P Asset Item P X Asset into Expense SI
maintenance
sub Inv ( Expense SI)

Expense items like Bolts, Nuts, washers,

cleaning fluids, Cotton waste, Stationeries
3 P X Expense Item P P Expense into Asset SI
received into the main asset stores as
Purchase order reeceipts

Expense into expense Same as above, but received straight into an

4 P X Expense Item P X SI Expense Sub Inv.

Expense items received into non-tracked sub

inventories like Stationery stores, scrap yard,
Expense into expense
5 P X Expense Item X X SI
Cotton waste and cleaning fluids store. These
sub-inventories are replenished by
Replenishment counting.

Fixed Assets or These non-Inventory Assets cannot be transacted to Sub Inventories.

6 X P Enterprise Examples - Plant, Bulilding, Machinery, Capital Equipments.
Assets Enterprise assets are installed and maintained in shop floor

Items like Weld, Special cutting, AMC, etc…

7 X X Service Item can be logically received into an expense Sub Inventory
to facilitate payment to the service provider.