About accounting for kits

General settings about kits

In the Inventory workspace of Visma.net ERP, in the Stock items (IN202500) or Non-stock items (IN202000) window respectively, you can:

enter the properties of a kit,
select the Is a kit check box on the General settings tab, to indicate that the stock or non stock item is a kit, and
assign pending prices to kits on a per-kit basis on the Price/cost tab.

To ease the process of creating new kits, you can define an item class for stock kits and another one for non-stock kits.

The item class provides default values for settings common to items (kits) of the class. For stock kits, the item class settings might include the assignment of lot or serial numbers and expiration dates to kits and the specification of when they're assigned: on kit production or sale.

Kit specifications

A kit specification lists the components of a kit. You create one in the Kit specifications (IN209500) window, where you can also:

save a modification of a kit specification as a revision that, once created and used, cannot be modified.
use the elements available to allow or disallow changing the quantity of components and adding components to the kit during kit assembly.
specify the minimum and maximum quantities, if adding components is allowed.
use the Stock components tab to add stock components to both stock and non-stock kits.

For creating kits, only the last revision can be used. For disassembly of a stock kit, if required, select the revision that was used for its assembly.

Stock and non-stock kits comparison

The table below compares stock and non-stock kits. Please note that the attributes of a non-stock kit will apply to a non-stock kit if it includes stock items.

Feature	Stock kit	Non-stock kit
Stock components	Yes	Yes
Non-stock components	Yes	Yes
Production	May be produced before a sales order requesting them is entered into the system. Production of stock kits (with valuation methods other than the standard cost method) creates a new cost layer.	Not applicable
Creation and reviewing	The Kit assembly (IN307000) window is used to create and view kit assembly documents, for new kits that are assembled and for existing kits that are disassembled.	Not applicable
On release of a kit assembly document	On-hand quantities of the items used as components are automatically decreased, and the on-hand quantity of the kits is increased.	Not applicable
On Sales order	One line item appears in the transaction and the on-hand quantity of the kit is reduced.	Stock components on the kit are specified on a pick list and shipped.
Serial/lot number	Might be required to be assigned on production or on selling, depending on the item class settings.	Not applicable
Expiration date	Might be required to be assigned on production or on selling, depending on the item class settings.	Not applicable
Disassembly	May be required when its expiration date has approached. Can be performed in accordance with the revision used to assemble the kit.	Can be performed in accordance with the revision used to assemble the kit.
Validation of components	No. The calculated quantities can be manually adjusted.	No. The calculated quantities can be manually adjusted.
Additional costs for assembly	Can be defined as non-stock items.	Not applicable
Cost valuation method	Average, FIFO, Specific or Standard valuation method.	Only the standard cost valuation may be assigned. Cost is recorded to the expense accrual account specified for the non stock item.
Standard cost variance account for difference between the standard cost and the cost of actually used components	Yes	Yes

Stock kit cost calculation

The cost of a stock kit is calculated based on the costs of components when the document is released.

The total cost of the kit is:

the total cost of stock components according to the specification's revision,
the cost of components added during assembly, and
the rates of non-stock components of the Labour and Service types multiplied by their quantities.