Project Inventory Tracking by Warehouse Location: General Information

In MYOB Acumatica, you can define a project so that specific project tasks are assigned to warehouse locations. With this configuration, in the project cost budget, you can track materials and services purchased for the project. Based on the expenses recorded to the cost budget, you can later bill the customer. The ability to track items used for projects by warehouse location helps you to track the amount of money and resources spent on the project and to accurately estimate the project profitability.

Learning Objectives

You will learn how to do the following:

• Configure a project to track project inventory by warehouse location
• Process documents with project-related stock items
• Review project and GL transactions that have been generated during the processing of item sales and purchases

Applicable Scenarios

You configure a project to use inventory tracking by specific warehouse location to keep project-specific items separate from other inventory and to have project quantities and costs segregated in inventory balances.

Inventory Tracking by a Project-Specific Location

To track project items by warehouse location, you select Track by Location in the Inventory Tracking box on the Summary tab of the Projects (PM301000) form for a particular project. You then assign a separate location to each project task for which you need to receive inventory items.

With this configuration, the quantity and cost of the items purchased for the project are tracked at the warehouse location level. You create and process the following documents with project stock items:

• For a purchase of project items, you create a purchase order on the Purchase Orders (PO301000) form. These expenses can be captured to the project as project commitments. When the purchased materials are received to the warehouse location, a user creates a purchase receipt on the Purchase Receipts (PO302000) form.
  Tip:

  With the Track by Location inventory tracking mode specified for the project, you cannot track assets purchased for the project.
• For a sale of project items, you create a sales order on the Sales Orders (SO301000) form. The shipment is processed for the sales order from the same location on the Shipments (SO302000) form with the quantity available for shipping that is specific to the warehouse location.

  If a warehouse location is linked to a particular project and project task, the system cannot issue the items from this location using the X non-project code. To issue the items stored in the project-specific warehouse location with the non-project code, you need to transfer the items to a warehouse location that is not linked to any project task.

In projects with inventory tracked by location, the cost of the issued materials is not project-specific and is defined by general cost calculation rules. The cost of the item depends on the item valuation method, and is affected by other factors: the warehouse location from which the item is issued, the account and subaccount, the selected subitem, and the lot or serial number of the item. For more information on how the system calculates item costs, see Item Costs and Valuation Methods: General Information.

Limitations

The following limitations apply to the Track by Location inventory tracking mode:

• The purchased materials are not reserved for the project and can be sold and shipped for other projects and customers.
• The system does not track the project-specific cost of materials.