Raw material to Product conversion
I am looking at moving our accounting file over to Reckon Hosted, but before I do I need to know that Reckon can handle our control control correctly first.
I am using the 30 day trial to check how this all works. Our scenario is as follows -
We use Raw materials to make a product that we then onsell. I l have set up inventory items for both the Raw Materials and the finished Products.
- Do I need to convert the raw materials into the product to correct the inventory to sell the finished product?
- During the process of converting the raw material into our finished product , we incur a 3% loss in material. How do i account for this?
- Do i need to do anything else to set up the stock control properly?
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