1 Creating a ProductEnglishالعربيةfrançaisTagalogहिन्दी

Creating a Product

Can you enter a New Product?

A Product can also be created directly from a transaction - enter in the name in the product name field and if it is not yet in the system a dialogue box will appear Warning - Do you wish to create a new product. Say Yes and you will be taken to the product screen to enter all relevant details as below.

• Select the Inventory Module from the Main Menu and then the Product + Button which opens up Product details screen
• Choose Product Type from choice below

Inventory Part - A physical product that has its amount tracked as inventory, it HAS a Cost of Goods Sold, ATTRACTS Income directly or indirectly, and IS considered an Asset

Non-Inventory Part - A product that has a buying cost but doesn't have its amount tracked, it HAS a Cost of Goods Sold, ATTRACTS Income directly or indirectly, but it IS NOT considered an Asset

Other Type - A product that doesn't have a specific buying cost associated with it, but it is sold. it DOESN'T have Cost of Goods Sold, it IS NOT considered an Asset, but MAY attract Income

• To create a Tree or Group the product select from the drop down menus under Manufacture, Type and Dept
  
• Enter the New Product name under the Product field
• The Description will Auto Fill from the product name into the Purchase description
• Click  >>Copy>>  to copy over to Sale Transactions.

NB you can have a different Purchase description than a Sales description if you wish.

• Enter the Quantity Buy 1 and Cost (Ex) is X amount in the first tab then depending on how you can buy the product the second and third Qty Eg. Qty Buy 10 cost is X amount and Qty Buy 20 and cost is X amount
• COGS Account - Choose from drop down menu - defaults to Cost of Goods Sold
• Preferred Supplier - Select from drop down menu
• Supplier Code if you choose to use this enter here Purchase Tax Code (defaults to NCG) to change select from the drop down menu, but check before changing as these codes feed the Bas/Vat report
• Purchase Default UOM - Defaults to Units
• Landed Cost if this is known

To get an Average Cost ensure you have entered a Buy price and Sell price when you first set up the product, then as the product is bought and sold the Average Cost will calcuate as you go. This is activated in Preferences

• Select the Utilities Module and then the Preferences Button - Inventory
• In the General area Stock Cost System - select the Average Radio Button

• Qty Sell and Price (Ex) Enter as the same as Quantity Buy
• If you wish to put on a %to the Cost price enter that value into the %(Ex): Cost/Sellfield and select either Markupor Gross Margin and this will auto calculate the Sell Prices
• Income Account - defaults to Sales, choose from the drop down menu to change
• Sales Tax Code - defaults to GST or choose from the drop down menu to change, however check before changing as these codes feed the Bas/Vat report
• Sales Default UOM - defaults to Units

You will also find a variety of Radio Buttons to select if applicable as detailed below.

• Special Discount - If selected this product will be available at a special discount to customers who are flagged as eligable to receive a Special Discount. Each customer can be given a "Special Product Discount" at an individual rate that is entered in the customer file. This discount rate is then applied to any products with "Special Discount" flag ticked.
• Serial Number Tracking - If selected, serial numbers will be requested and tracked for this product. See Utilities -Preferences -Inventory for a preferences related to Serial Number tracking
• Auto Reorder - If selected this products In Stock quantities will be assessed against its reorder points whenever Auto Reorder is run
• Discontinued - If selected the product can not be included on new purchase orders but existing stock can still be sold. If no stock is held you would make the product inactive.
• Included in Analysis - If flagged this product will be included in the "Combined Analysis Report" and "Employee Analysis" both of which can be found in Employee Reports
• Hide on Print - Select if this product is to be hidden on printed invoices but included in the value of the invoice (it will still be seen on screen) eg. You may wish to add travel expenses when providing a service. Using Hide on Print will allow you to account for the expenses seperately without displaying them as a seperate item on the customer's invoice.
• Auto Create Smart Order - If Selected the user will be asked if they wish to create a purchase order for this product when a sales order is raised. This is useful for products that may be sold rarely and therefore not kept in stock.
• Has Formula Attached - Select this item if you want to attach a formula to calculate quantities of another product that is to be supplied with this one. EG. If selling a product with variuable dimensions such as a door, a formula might be added to calculate the area based on the height width and depth and calculate the quantity of paint required for the order. A popup window will appear when the product is ordered asking for the variables required by the specified formula. See Product Formulas for more information.
• You will be able to view the tree in the Product Tree field Product
• Comments can also be created if required.
• Then click Save
• The Active button is selected by default.