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Stock inventory is material bought and stored in a warehouse until it is needed for a Project. |
What is the difference between inventory and stock?
Inventory: items which are tracked when consumed and can be applied to a single project.
example: panels allocated to and reserved for a specific job.
Stock: items that are not tracked when consumed and are used over a variety of projects.
example: screws, glue, sandpaper (consumables).
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When material is needed for a project, it is "sold" to the project via a "Stock Order PO" so it will be included in Job Costing.
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