Track Inventory Costs and Quantities

This help topic is applicable to the following TireMaster applications:

TireMaster Point of Sale

TireMaster Plus

TireMaster Corporate

Before you add an item to the inventory, you need to decide whether you want to track its cost and quantities. Depending on the choice you make, you’ll classify the item as either inventoriable or noninventoriable.

Note: Inventoriable and noninventoriable items are not the same as stock and nonstock items. The term stock means an item is carried in inventory. Nonstock refers to items that are purchased for specific jobs. Inventoriable and noninventoriable define whether you track an item’s quantities and cost.

If you need to keep track of an item’s cost and quantities, set it up as an inventoriable item. Inventoriable items include the items that you typically keep in stock and include in your physical inventory counts. If you want your sales reports to show the profit or loss for an item, set it up as inventoriable.

To classify an item as inventoriable, type the letter Y in the Inventory (Y/N) field on the Inventory Maintenance screen. To track changes in an inventoriable item’s cost, you need to select one of three inventoriable costing methods. For more information, see Inventoriable Costing Methods.

If you need to track an item’s cost but not its quantities, set it up a noninventoriable item. Noninventoriable items typically include labor, nonstock items such as service parts, and hard-to-track items such as valve stems.

To classify an item as inventoriable, type the letter N in the Inventory (Y/N) field on the Inventory Maintenance screen. When you set up a noninventoriable item, you also need to decide the following:

If you want to post the item’s cost to general ledger at point of sale (Option Cost Method).

If you want to post the item’s cost to the general ledger when you buy it from a vendor (Expense Method).

If you want to post the item’s cost to the general ledger when it’s sold (Relief Percent Method).

Note: General ledger posting occurs only in TireMaster Plus and TireMaster Corporate.

For more information, see Noninventoriable Costing Methods.