Inventory Used for Internal Purposes

Inventory Used for Internal Purposes

This help file outlines how to account for inventory that has been used internally by the business. For example, if tyres or parts are fitted to a work vehicle.

 

To account for inventory used for internal business use, the following needs to be setup first:

 

  1. An Internal Consumption Supplier account for the business, and
  2. A Special Item for Motor Vehicle Expense (or Workshop Consumables etc. depending on what the stock was used for

 

      

 

      

 

Once you have set these two up in your system you can proceed to account for the stock used internally. This is processed via a Supplier Return.

From the Order Entry menu

  • Select Supplier Return
  • Click on Add New
  • Select the Internal Consumption Account
  • Untick the Credit Note box at the bottom
  • Put the items used onto the Supplier Return
  • Select the Special Item for Motor Vehicle Expenses
  • Set the Quantity of the Special Item be -1
  • Make the value of the of the Supplier Return be the same as the total of the Supplier Return

 

      

 

  • Sell the Supplier Return

The quantity-on-hand level of the items on the Supplier Return will be reduced and the cost of these items will be move to the General Ledger code the Special Item is linked to.


If you have any queries regarding Inventory Used for Internal Purposes in COSTAR, please contact the Support Desk.

    • Related Articles

    • Vehicle Inspection Forms

      A Vehicle Inspection Form allows you to ensure that all the components for a complex type of job (e.g. 60-point Inspection) are carried out and any associated comments recorded. Once completed your Inspection Form will also allow you to provide your ...

    • Importing Inventory (from Overseas)

      This document outlines how to process imported goods in COSTAR. It covers the following five steps: Making payments before goods are shipped Receipting the goods Processing any additional payment of the goods Processing Customs Agent’s Invoices (e.g. ...

    • Exporting, Importing and Renumbering Inventory Items

      This help file outlines how to use Microsoft Excel to carry out maintenance on inventory items in COSTAR. Using Excel can make it easier to make bulk changes rather than having to bring up individual items in Item Maintenance. Note: Only people ...

    • Cash Purchases of Stock

      This help file outlines how to process cash from the cash register being used for the purchase of stock. You will need a Special Item for Cash Purchases set up in your system. If you do not have this Special Item please contact the Support Team. ...

    • Supplier Returns

      Supplier Returns are used to record that stock has been returned to a supplier and is no longer in the inventory files in COSTAR. Once the Supplier issues a Credit Note for this return, these details can been processed on the Supplier Return. As soon ...