1. All inventory items are required to have a unique item code. This will appear on sales invoices sent to customers. 2. As with the item code, the product description will also appear on sales invoices. 3. This box should be selected if you are setting up a new tracked item. Please refer to above notes, since this cannot be changed once you have recorded transactions against this item. 4. This should be the expected purchase price of the item. This can be changed on an invoice-by-invoice basis, if required. 5. Please select the nominal code for the purchase of these items. Stock items should ordinarily be posted to a Cost of Sales code. Please refer to Section 2 for more details. 6. Add a Tax Rate for these purchases from the drop down list provided. 7. Enter a brief description of the item. 8. Add the expected unit price for the sale of this item. Again, this can be changed on an invoice-by-invoice basis. 9. Please select a nominal code for the sale of these items. Please refer to Section 2 for more details. 10. Add a Tax Rate for sales of this item from the drop down list provided. 11. Enter a description of the item. This will appear on the sales invoices to customers.
When you have completed a physical stock-take, it is inevitable that you will need to adjust the balances shown within the software. This can happen for a number of reasons, including obsolescence and damaged goods.
To do this, click into the item you would like to adjust and follow the steps below: -
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