To receive goods from a customer for subcontracting jobs and not count them on inventory accounting in Odoo 16 Enterprise, you can use the following approach:

Create a new virtual warehouse to track the customer-supplied raw materials. Go to Inventory -> Configuration -> Warehouse -> Create a new warehouse, and set the "Internal Transfers" option to "No".

Create a purchase order for the customer-supplied raw materials. Go to Purchases -> Purchase Orders -> Create, and select the customer as the supplier. Add the customer-supplied raw materials to the order and set the quantity and price accordingly. When you validate the purchase order, the goods will be received into the virtual warehouse you created.

Create a manufacturing order for the subcontracting job. Go to Manufacturing -> Manufacturing Orders -> Create, and select the product you want to produce. In the Bill of Materials, add the customer-supplied raw materials and set the quantity accordingly. When you confirm the manufacturing order, the system will automatically create a production order.

Create a sales order for the finished product. Go to Sales -> Sales Orders -> Create, and select the customer as the customer. Add the finished product to the order and set the price accordingly.

Invoice the customer for the service price of production. Go to Sales -> Sales Orders -> Select the sales order -> Validate. Then, create an invoice and set the service price of production as the invoiced amount.

By following these steps, you can track the customer-supplied raw materials separately from your own inventory and still be able to produce and sell the finished product. Additionally, you can invoice the customer for the service price of production separately from the raw materials cost.

In inventory-> Configuration -> Settings under Traceability activate Consignment.

Create a Goods receipt manually without any reference.  In the fields "Assign Owner", fill in the name of your customer.  When posting, this part of the stock have now value.  There are no financial posting.

In the sales order, you only set the price for process of manufacturing.   

For tracking: Either use a separate product for customer material.  That is the easiest way to keep track of it and not mix up with your own material.  You might need alternative BOM or when you create the manufacturing order, you can change product for components manually.  There can also be an option to use variants for to different BOM

The other option for tracking is to use Lot number. Assign a lot number when you do a goods receipt. You must manually register this lot number as consumed in the manufacturing order.  Odoo might reserve another lot number automatic, but you can override it. 

You can read here about consignment stock:

https://www.odoo.com/documentation/16.0/applications/inventory_and_mrp/inventory/management/misc/owned_stock.html