Setting up an inventory valuation method and offset account
Note: This functionality is available only if you have the Inventory Add-On Module.
Before you start
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To use the inventory functionality, you must designate the inventory valuation method and set up an offset account for your company.
Caution! After you make this selection, you cannot change the method unless there are no inventory transactions posted to the system.
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You must select your inventory valuation method before you can specify a part to be included in your inventory system in 9-2 Parts.
Important!
- The inventory valuation designation is made at the company level and can differ between companies depending on your business needs.
- We recommend that you consult with your accountant and tax advisor before selecting an inventory valuation method in Sage 100 Contractor.
To set up an inventory valuation method and offset account:
- Open 1-8 General Ledger Setup.
- On the Inventory tab, select the valuation method that you want to designate for the company.
- In the Offset Account text box, enter the general ledger account that you want to use for the offset account.
- Click > .