Inventory Transfer is primarily used to move inventory items from a location (such as your warehouse) to a job. This action will reduce inventory and increase the cost of goods sold (COGS) for the items you transfer.
When you transfer items to a job using this form, you will NOT want to add those items to an invoice. That action would double your costs.
Normally you must create an invoice to recognize COGS for Inventory and Serialized item types. However, you have a job that incurs considerable costs before you are ready to create an invoice. This form allows you to recognize costs, as inventory items leave your building, without an invoice.
You might use this form when you have an ongoing job and wish to keep your financial and job costing report timely without waiting to create an invoice.
This form has three possible actions. Each of these is covered in detail below.
- Warehouse Transfer
- Transfer Ownership
- Return Inventory