Item with "Is Purchase Item" as "Yes" can be used in purchase transactions like indent, purchase order, purchase receipt and purchase invoice.You wont be able to consider item which are marked as "purchase item - No' in above stated transactions.
How to purchase items in multiple unit of measurement (UoM)?
Let us consider the scenario where default UoM of an item is Nos. This means the inventory in maintained in Nos. Suppose you purchase the same item in both Nos and Kgs. In the UoM table you can define if the item is purchased in Kgs its conversion factor 5. This means 1 kg of item is equal to 5 Nos. This will update the inventory accordingly. Similarly you can define multiple UoMs.
What is default expense account?
You can select a default expense account which will be fetched automatically when you select this item in purchase invoice.
What is standard rate?
Standard rate of an item is considered for production Bill of Material. Cost of production item is calculated based on cost of material required.
You can have the finished product costing where the particular item is used in 2 ways
1. Last purchase cost (which will keep of changing)
2. Standard cost
What is default expense account?
You can select a default expense account which will be fetched automatically when you select this item in purchase invoice.
What is standard rate?
Standard rate of an item is considered for production Bill of Material. Cost of production item is calculated based on cost of material required.
You can have the finished product costing where the particular item is used in 2 ways
1. Last purchase cost (which will keep of changing)
2. Standard cost
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