Account sets are groups of general ledger accounts to which you post Inventory Control transactions. More...
You use the I/C Account Sets Screen to add account sets.
When you add an account set, you enter a unique code of up to six characters for the set, and a description (for example, Assembled Items). Account set codes can contain upper-case letters and numbers.
For each account set, you specify a costing method, and you enter account numbers for a set of general ledger accounts.
Account sets do not specify all of the accounts that are used with an item. You specify the following account codes for sales and COGS with inventory categories. Sage 300 Order Entry uses the Sales account and Returns account; Inventory Control does not use them:
You must specify a costing method for each account set.
Since different methods of inventory valuation are appropriate in different situations, you may want to ask your accountant to determine which method best suits your needs and to ensure that the calculation methods used by Sage 300 are appropriate for your business.
For more information, see Costing Methods Reference List.
You can change all of the information in an account set on the I/C Account Sets Screen except the identifying code.
To change the code, you first add an account set with the code you want to use, assign the new account set to any inventory items that use the old account set code, and then delete the old account set code.
You can delete account sets only when they are not assigned to inventory items.
If you want to delete a account set that is assigned to an inventory item, you must first assign a different account set to the inventory item, and then delete the unwanted account set code.
For more information, see About Deleting Account Sets.