Serialized items are goods that have serial numbers assigned to them for tracking purposes. For example, an electronics retailer can use serial numbers to record sales of inventory items that have warranty periods.
Note: Serial numbers are used for tracking stock from the point of receipt through to the point of sale, and can be used to track returned items from the customer and back to the vendor.
Serial numbers are used to track individual items, so each serial number must be unique to one specific item.
You may be prompted to assign serial numbers to items when performing the following transactions:
- Receiving inventory purchased from a vendor and entering an invoice. For more information, see Receiving and Invoicing Serialized Items .
- Returning stock back to a vendor and entering debit or credit notes. For more information, see Returning and Issuing Credit/Debit Notes for Serialized Items .
When assigning serial numbers in Purchase Orders, you are either generating new serial numbers or selecting from a pool of previously created numbers. The actual management and maintenance of serial numbers is performed using Inventory Control.