In this video let’s take a look at scanning inventory items and then creating expense records from them. Now you may be used to scanning time and materials. In this case we’re going to scan the actual inventory item and then create an expense record from that. That will allow you to use those records in your time and expense reports. That’s go ahead, take a look and see how it works.
Over in Standard Time we’re going to choose tools, inventory to take a look at the relationship between inventory and expense records. You may have seen other videos where we scan inventory items and bill of materials to deduct them from inventory. In this case we’re going to create a new expense record when I scan inventory items.
Let’s choose tools, inventory. I’m going to take a look at this wood panel inventory item. I’ve got a name, a description, an option here that lets me create a new expense anytime this is scanned. This is a very simple scenario, you’ve got a list of inventory items, you want expense records created every time you scan them. Now you’re tracking time and materials and you can include these records in your time and expense reports.
A more advanced scenario would be where you would scan an expense template. That would be in addition to these inventory items. And when you scan that expense template, it would deduct from inventory. So we’re going to take a look at the quantity in stock on each of these items and they will be deducted when we scan. When they drop below the quantity to reorder then we could run a script to reorder/replenish them. That’s close this.
I wanted to take a look at Microsoft Word quickly to show you two labels that I printed out. One is “wood panel” inventory item the other is “display racks” which is an expense template. So that’s the more advanced scenario. Let’s minimize this and press F4 to open up the barcode window. I’m going to scan “wood panel.” When I do it tells me that the wood panel has been deducted from inventory and expense has been added. Let’s close this.
Click on the expenses tab and we see a new record that has been entered here. $249.91, it’s got a description of wood panel. I didn’t scan any other projects or tasks so we’ve got just a raw record that can be used with your time and expense records. That is a simple scenario for how you would scan inventory items and create expense records from them.
A more advanced scenario is where you go over to the time sheet; click on this gray dropdown and go to the expense sheet. Open up a project and look at expense templates. Expense templates let you fill out a lot more fields and when you enter quantities for those they create expense records from those templates. You can also scan them and when you do it will deduct from inventory. So the metal rack that we saw over in inventory will be deducted when I scan “display racks.” Let’s close this.
Press F4. This time I’ll scan my name first then scan display racks. We’ve got a little status telling me that I did that successfully. I’ll close this, go over to expenses. We’ve got a new record here, when I open that it’s a $179 plus some tax $193.55. Got a description of display racks, that was the name I scanned for expense template. In this case I’ve got a few other fields that are filled out from that expense template. You can fill out the entire template and that will transfer over to the expense record. You can use these records for your time and expense reports.
Two different scenarios where you can go into inventory, scan them and create new expenses from them.
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