Fuel inventory question

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  • Updated 4 months ago
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We order fuel in bulk then allocate to our own vehicles when it is used. How do I set the fuel up as inventory without selling it? If I use Adjust Quantity on Hand I can't allocate it to specific vehicles.
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Heather Rogers

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Posted 4 months ago

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Adrian

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Hello Heather

You could do as a bill credit.

In the items tab use the fuel item, and the amount of litres allocated, this will reduce down the fuel litres and cost.

Then in the expenses tab allocate negative amounts to the expense code you require.

The bill comes back to zero, don't use GST codes on the transactions.


Adrian
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Kevin Russell, Accredited Partner

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If you arent selling it then it isnt inventory. Simple
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Jason Hollis, Head of Product

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Hi Kevin,

I personally wouldn't recommend classes Kevin as they are best used for divisional reporting. But yes that's another option. It's all about how Heather would like the reports sliced and diced. 

Jason
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Kevin Russell, Accredited Partner

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I hear thee Jason. It also depends if you are already using classes or not
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Heather Rogers

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Yes we are using classes already. I don't think they will give me what I want as they won't show the amount available. And we have around 30 vehicles.
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Jason Hollis, Head of Product

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Hi Heather. Do you just need to know the TOTAL fuel available? If so, still set up inventory and use the customer method. This will track inventory (fuel) used and also let you report on fuel per vehicle.

There are several ways to approach it, depending on your required outcomes. One of our accredited partners would be best to review your requirements in detail and make a recommendation. 

** Generally a freight company, for example, will use a combination of inventory items, service items, jobs and classes to report on costs per vehice per job etc. 
You could setup a fuel clearing account and allocate the inventory adjustment to that, then do a journal to allocate to the vehicles.
FYI I have a transport client and they do not nor will they have a need for divisional reporting so they use class tracking to track both the income & expenses for each vehicle with an additional class for all other overheads.
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Kevin Russell, Accredited Partner

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Im aghast the fuel Coy cant do this for you. Its their job