inventorydraft – there are some descriptions required and some contradictions.

December 2013 / PhreeBooksR36RC3
Author – Charles

Inventory Classifications (in alphabetical order):

Stock, Non-stock

Activity Item – treated like a service or Charge. A non-stock item. Activity Items are a lot like service items with the main difference being they are supposed to be a fixed length item. For example, oil change labor would be an activity item whereas repair oil leak in engine would be a service item where the time allotted is unknown.
Charge Item – a fixed price charge for materials and/or services. Shop supplies and disposal fees would be examples of charges.
Description – a text only item to communicate information. Typically a standard statement included with purchase orders and sales orders. e.g. bank payment details. Also used for Cost-Codes.
Flat-Rate Serviceneed description
Item Assembly – One or more inventory items grouped together and sold as an individual item (with own sku).
Labor – associated with employee chargeable time. May be applied to internal work order activities as well as labor charges to customer for services provided. Typically charged by a unit of time.
Master Stock Assembly – A Master Stock Assembly is simply a Master Stock Item that is an ‘assembly’ i.e. it is assembled using other inventory items in quantities defined in the BoM (Bill of Materials).
Master Stock Item – Items that contain ‘attributes’ e.g. colours and sizes. PB will assign a unique item id (SKU) to each variation to track inventory activity but retain the link to the MSI for reporting.
Non-Stock Item – physical items whose costs are not tracked in the Genaral Ledger. This may include supplies, packing material, assembly materials. Also used for Cost-Codes.
Serialised Assembly – A Serialised Assembly is simply a Serialised Item that is an ‘assembly’ i.e. it is assembled using other inventory items in quantities defined in the BoM (Bill of Materials).
Serialised Item – assembled and sold by a unique serial number. Movement and cost are tracked in the General ledger.
Service – represent a fixed charge for a service e.g. a packing charge or handling would be a service.
Stock Item – common retail item. Purchases and sales are recorded. A count of stock is recorded.