Inventory items can be tracked by lot or individual serial number or can be both lot and serial tracked.  

• Serial - a unique number assigned to a single piece
• Lot - a unique ID assigned to a homogeneous quantity of material
• Both - use both serial and lot numbers 
• Negative quantity is not allowed for serial, lot or both tracked items
• Back Flush in manufacturing module cannot be used for the raw materials that use serial, lot or both tracking method in Maintain Routing - tracked items must be issued to work order
• Actual Costing Method needs to use serial, lot or both tracking methods. If Track Method is None then Valuation Method cannot be Actual
• Items tracked by serial number, lot number, or both can use any Valuation Method (Standard, Average, FIFO, LIFO, or Actual)
• Tracking method CANNOT be changed after the item is saved
• If an item is Serial or Both tracked 'Allow Decimal Quantities'  checkbox is disabled.
• Track Method defaults to none and remains disabled for all Non Inventory Items and BTO Kits.
• For serial and ‘both’ tracked items, a user may define a format mask that will be validated when serial numbers are entered in the system (optional).his serial number mask defaults from module options
• The mask is required if the user wants to set up an increment rule
• Only numeric values may be incremented