Items

Inventory catalogs refers to the goods and materials that a business holds.

An Item represents something that can be bought or sold (or both). An item can be a type of product or a service, and the attributes that are assigned differ depending on this distinction. 

Product items can be in multiple locations, have more than one unit of measure, and be part of another assembled item. 

Service items can be sold without purchase and are used in the time tracking module and can be added as hours, minutes or a flat rate.

The Items module not only represents the list of products and services, but also displays the quantitative measures (e.g., quantity on stock) and values (e.g., expected cost).

Create Item #

Remember that one way to create multiple Items at the first start is to import the list of items using the Data import tool.

If you are creating an item similar to another existing item, you may copy it to save time. Right click the item in the list view and choose Copy. Change the info that is different for the new item (the code must be unique) and click Save. 

  1. Navigate to Lists – Items
  2. Create new Item
  3. Enter Code (optional)
  4. Enter the Description
  5. Choose Item type – Product (tracked in Inventory) or Service (not tracked in Inventory)
  6. Choose Item Category
  7. Enter the Item price. For a more complex pricing structure using Price Levels and/or Categories, use the Price Matrix.
  8. Enter the expected item Cost
  9. Enter Lots or Serial numbers, if you will be tracking lots and/or serial numbers on this item.
  10. If an Items is assembled, tick the Assembly box (please refer to Item’s assembly setting for more information)
  11. On the Setup tab: choose Costing method, default Expense and Sales accounts, number of decimals to use in pricing, and UPC (Universal Product Code) (all optional). The default accounts are pre-filled in accordance with Accounting settings, but they can be changed
  12. On the Vendor tab:
  13. On the UOM tab:

In the Items list you can create whatever you need. Works, products, services, etc. The type of item (product/service) means how the cost will be calculated in the sale and if it is possible to have negative stock. The products to be sold must first be purchased. The services/works to be sold can be sold without items on hand.
This is the difference. Other abilities are the same.

Lots #

Lot numbers are assigned to a particular quantity, batch or grouping of a manufactured product in order to give traceability from raw material to consumption.  In AccountingSuite, lots are recorded on the item receipt for purchased goods and assigned on Assembly builds for manufactured products. In contrast to a Serial number, a single lot number can refer to many of the product to which it is assigned.

Serial numbers #

Using the Serial Number feature, assign serial numbers to received items on Item receipts or Bills and track items going out on Shipments or Sales invoices.

Choose Serial numbers in the Lots/SN field in the Item. To make Serial numbers a required field, tick the toggle “Add Serial Numbers when Receiving Goods”.

Costing methods #

Costing method is used to calculate the amount whenever an Inventory account is credited (e.g., by posting Sales invoice or Vendor credit memo). Select the costing method for an Item. Methods available for Items are:

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