Inventory Consumptions
Overview
Inventory consumptions are used to record the internal usage of consumable products. These transactions deduct quantities from inventory and expense them to the appropriate accounts.
Fields of Inventory Consumptions Form Explained
Consumptions are accessed via the product details page, and is only available for products that are defined as a consumable product.
- Consumption Date: The date when the consumption is being recorded. This is a required field.
- Description: A brief description of the consumption for reference purposes. This is an optional field. It will show up in the printed document.
- Current Quantity: Shows the current quantity of the product in selected store.
- Quantity: The quantity of the product that is being consumed. This is a required field.
- Transaction Note: This is a text field to add any notes or description about the consumption. This is optional and purely for reference purposes. It does not show up on the printed consumption, only shows up on the general ledger and account statements of the related transactions.
Inventory Consumption Other Properties
- Store: This is based on the store selected when initiating the consumption.
- Store Account: This is the account that will be debited for the consumption. It is automatically populated by the system based on the store's account settings.
- Expense Account: This is the account that will be credited for the consumption. It is automatically populated by the system based on the product's expense account settings.
- Consumed Value: This is the total value of the consumption. It is automatically calculated by the system based on the quantity and the average cost of the product in the selected store.
- Confirmation Status: This is used to track the status of the consumption. It can be "Draft" or "Confirmed". This is a common approach across all transactions in Mezan. Confirmed state can influence if it shows up in reports by default or not, as reports can be filtered based on the confirmation status.
- Organization Member: This is the organization team member who created the consumption. It is automatically populated by the system based on the user who created the consumption. It is useful in reporting, permissions, and audit purposes.