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We are an analytical testing lab that buys many consumable materials and reagents. Is there a way to account for these things as an asset before they get used up? These items are not technically "assets", but they are an asset to us until they are gone…

New to book keeping and new to dealing with inventory... I'm confused how we deal with inventory tracking in sage 50 Canadian edition. I set up our inventory module and added inventory items successfully. For each item, it asked me to link an asset account…