4. Items

What are Items?

Items are the products and services which you deal with in your day to day business. Items are those products which you buy from your vendors and sell to your customers for profits.

A. Key Metrics gives you the information about the Cost of Inventory, and the three major items Sold

B. Edit allows you to edit the view of Items list

C. Delete allows you to delete the saved view of Items list

D. Create New View allows you to create a new view of Items list

E. You can either Edit or Delete an Item on clicking on the action button

F. Product name lists all the products in the Items

G. Type shows you the item is Non-inventory or Inventory or Sales Tax item, etc

H. Cost of Item is the cost you paid to buy that item from your vendor/s

I. Sales Price is the price at what you are selling the products or services to your customers

J. The income by selling is affects the Income Account listed

K. The Chart of Account is marked to the product

On clicking New Item button a new page is opened as under

Now let us understand the line items one by one by which you come to know how to enter a new item

Information Section

A. Type the name of the product in the space provide in the Product Name

B. Key in the description of product if required

C. Select the type of the product by clicking on the dropdown menu.

Sales Section

A. Enter the Sales Price of the product

B. Select Taxable or Non-Taxable in the dropdown menu

C. Select the Income Account from the lookup menu to give effect to the product you sell

Sales Tax Section

A. Enter the figure at what rate the product needs to be taxed

B. Specify the tax to hit a the Chart of Account

Purchase Section

A. Enter the value at what you have purchased the goods from the vendor

B. Select the vendor from the dropdown menu

C. Select a Chart of Account to link Cost of Goods Sold from the dropdown menu

D. Enter the part number if you prefer to

E. Calculate the average cost and enter if you prefer to

Inventory Section

A. Select a Chart of Account to link Asset Account from the dropdown menu

B. Enter the quantity to track re-order point

C. This is a pre-calculated field to show quanitites on Sales Order (do not enter any value)

D. This is a pre-calculated field to show quanitites on Purchase Order (do not enter any value)

E. This is a pre-calculated field to show quanitites on Hand Quantity (do not enter any value)

DBSync Section

A. Datas can be integrated into AccountingBook through DBSync to provide easy integration for Products between AccountingBook and other Accounting Applications. 

B. This field will be updated if there is an error while integration with other Accounting systems or applications.

Click on save to conclude the entry.