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The other company owners and I pay for some purchases of stockable products with our own credit cards. How can I get these products into stock?
If I try to handle this in an Expense, there are no inventory moves created. Do I need to do a manual inventory transfer or something? Or is this better handled some other way rather than an Expense?
Thanks!
Just an idea, I did not test it myself:
When having installed the contacts app, you can set the flag "Is a Vendor" to your employee contact and then assign corresponding accounting information about the fiscal position and the financial accounts where the purchases have to be posted to (for example as credits to the partners' current accounts or salary accounts instead of the account payable). This way the flow of goods and the billing is treated the same way as with any other regular vendor.
Not 100% understand your case, but may be you want to mix purchase where some products own by you and some by third party. In that case I recommended you to split picking qty and remove the owner from your own stock that way you can get those products in your stock and valuation.
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Thank you guys for the suggestions!
The following seems to work:
I created an Expense Product called "Expensed Assets" and use it to debit a new Cash-type account called "Expensed Assets". When one of us purchases inventory (Current Assets) or equipment (Fixed Assets), we use the Expensed Assets product, the Expensed Assets account is debited with the full value of the purchase (including tax). Then we go through the Purchase workflow for the assets and pay the invoice from the Expensed Assets account -- this allows us to use products that update the inventory.
My suggestion implies that there is no special product involved, but the regular products used in the company's value chain and therefore fully integrated in all workflows and stock valuations.