Summary
Description
Track the products and services you buy and sell, including quantities, costs, and storage locations. Enter these types of items:
| Stock | Track stock items, adjust quantities automatically, and receive low-quantity alerts. You can use the Stock Movement Summary report to manage costs |
| Non-stock | Record non-stock items without tracking. Use them for small items like screws or bolts. |
| Service | Track non-physical goods, such as repairs, consultations, or software updates. |
Resolution
Add a stock item
- Open Products and Services, and then select New Item.
- Select Stock and then enter the following information:
Item Code
Enter a code for the stock item.
Item Description
Enter a description that appears on the invoices.
Category Choose a product category, if applicable.
- Under I Sell This Item, enter the following information:
Price Name
Define sale, trade, and wholesale prices.
Price ($)
Enter each price.
Includes Tax?
Select this checkbox if the price includes tax.
Sales Account
Choose the general ledger account.
Tax Rate
Assign a tax rate.
- Under I Buy This Item, enter the following information:
Usual Vendor
Select the vendor.
Vendor Item Code
Enter the vendor's item code.
Expense Description
Provide a brief description.
Cost Price
Define the unit cost.
Expense Account
Choose the appropriate ledger account.
Reorder Level and Reorder Quantity
Enter these values to automate stock management.
- Under Opening Balance, enter:
Quantity on Hand
Specify the available stock.
As of Date
Enter the last inventory date.
Cost Price
Define the unit cost.
- Under Additional Information, enter:
Product Group
If you’re using analysis types for stock items, select a product group for the item.
Location
Enter the location of your stock item.
Barcode
Enter the weight of the item.
Weight
Enter the weight of the item.
Notes Enter any additional notes about the stock item.
Add a non-stock item
- Open Products and Services and click New Item.
- Select Non-stock and enter:
Item Code and Item Description
Enter the code and description for the non-stock item.
Category Choose a category, if applicable.
- Under I Sell This Item, enter:
Price Name
Enter amounts for sale, trade, and wholesale prices.
Price ($)
Enter each price.
Includes Tax?
Select this checkbox if the price includes tax.
Sales Account
Select the general ledger account.
Tax Rate
Select the tax rate.
- Under I Buy This Item, enter:
Usual Vendor
Select the vendor.
Expense Description
Enter the item description.
Cost Price
Enter the price at which you buy this non-stock item.
Expense Account
Select the general ledger account.
Additional Information
Enter any additional notes.
Add a service item
- Go to Products and Services and click New Item.
- Select Service and enter:
Item Code
Enter a code for the service.
Item Description
Enter a description of the service.
Category
Choose a category.
- Under I Sell This Item, enter the following information:
Rate Name
Enter amounts for sale, trade, and wholesale prices.
Rate ($)
Enter each rate.
Includes Tax?
Select this checkbox if the rate includes tax.
Sales Account
Select the general ledger account for sales.
Tax Rate
Select the tax rate.
- Under I Buy This Item, enter:
Usual Vendor
Select the usual vendor.
Purchase Description
Enter a description for invoices.
Cost Price
Enter your purchase price.
Expense Account
Select the general ledger account.
Additional Information
Enter any additional notes.
Edit a product or service item
- Go to Products and Services and then select the item you want to edit.
- Click Edit.
- Make the necessary changes.
- Click Save.
Delete a product or service item
- Go to Products and Services.
- Select the checkbox next to the item to delete.
- Click Delete and confirm the deletion.