Sometime there might be a confusion between AR Items and IC Items. In this blog we will discuss about what is exactly the difference between AR Item and IC Item.
Account Receivable Items: Accounts receivable (AR) item is an item in the general ledger (GL) that shows money owed to a business by customers. Basically AR Items are financial creature and not Operation creatures. Adding item records in Accounts Receivable lets you set up a price list of the items you sell to customers or the fees you charge clients. Item numbers also make invoice entry faster. AR Item do not have Quantity on hand, kiting item, BOM Item, Stock Item, and serial item as like inventory item. User can create AR Items in sage 300 using Item screen.
Navigate to screen:
Account Receivable-> AR Setup-> Item
Inventory Control Item: Inventory is an asset that is intended to be sold in the ordinary course of business. Inventory may not be immediately ready for sale. Inventory is commonly thought of as the finished goods a company accumulates before selling them to end users.
Inventory can also describe the raw materials used to produce the finished goods, goods as they go through the production process or goods that are “in transit”.
Navigate to screen:
Inventory Control-> I/C Items and Price List.
You can check the difference between screens too as IC Item creation include with the options as Stock Item, Serial Number, Lot Number, sellable.
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