To create a record for an item you buy and sell, but don’t inventory

To create a record for an item you buy and sell, but don’t inventory

Step 1 > 2

If you haven’t already read the Items Overview, see An item you buy, sell but don’t inventory for more information.

The Items List window should be displayed.

Click New.

In the Item Number field, enter a unique number. You can use up to 30 numbers, letters and symbols.

The backslash character (\) serves a special purpose in MYOB AccountEdge—any item number that begins with a backslash can be included on sales and purchase forms, but they won’t appear on printed forms.

Enter the name of the new item in the Name field using up to 30 characters.

Mark the two boxes labeled I Buy This Item and I Sell This Item.

As you mark these boxes, you’ll notice that other fields automatically appear.

In the Expense Account for Tracking Costs field, enter the account number you want to use to track the costs associated with purchasing this item.

In the Income Account for Tracking Sales field, enter the account number you want to use to track the income you receive from the sale of this item.

Next, you’ll enter purchasing information for the item. Click the Buying Details tab.

In the Buying Unit of Measure field, enter the item’s buying unit of measure—that is, the method by which this item is packaged when you purchase it. Some typical units of measure are Each, Pair, Case, Gross, Hour and Day.

If you pay tax when you purchase the item, mark the box I Pay Sales Tax When I Purchase This Item.

The item will automatically be marked when you enter a line item for this item in the Purchases window.

Next, enter selling information for the item. Click the Selling Details tab.

In the Base Selling Price field, enter the price at which you usually sell one selling unit of measure of this item.
The selling price is the normal price for one selling unit on an item layout. For example, if you sell cans of soda in cases, enter the price of one case of soda.

In the Selling Unit of Measure field, enter the item’s selling unit of measure—that is, the method by which this item is packaged when you sell it. Some typical units of measure include Each, Pair, Case, Gross, Hour and Day.

If you collect tax when you sell the item, mark the box I Collect Sales Tax When I Sell This Item.

When you make a selection from this list, the item will automatically be marked when you enter it as a line item in the Sales window.

At this point, you’ve entered the item’s basic information. If you want more information about the Item Information window read Other considerations when creating items.

Click OK to add this item to the Items List.