Our company a property developer. Our costs come from consulting fee, construction fee, acquisitions and so on. I've allocated all the costs to a Construction WIP account (in BS).
Now we have finished our development and got a lot of finished houses. We want to do inventory management. So the cost should be reallocated to P&L accordingly.
If a client enters into a contract, we should invoice to him and the inventory amount should decrease, but we won't receive money (because all the deposits should be hold in trust account). And we will receive money when settlement, but inventory amount should remain the same and we won't invoice to him.
It will be very easy if I solve problems by journals. But we want to use inventory management.
Cant's seem to find anything that tells me how to do this.
