What's new
What's new
Setup
Setup
Security
Security
Maintenance
Maintenance
Everyday tasks
Everyday tasks
Period-end tasks
Period-end tasks
Reports and forms
Reports and forms
Importing/exporting
Importing/exporting
-------------
-------------
Glossary
Glossary
Site help
Site help
Sitemap
Sitemap
Copyright
Copyright
Accounts
Accounts
Banking
Banking
Sales
Sales
Time billing
Time billing
Purchases
Purchases
Inventory
Inventory
Payroll
Payroll
Cards
Cards
Jobs
Jobs
Categories
Categories
Transactions
Transactions
Topics
Site Tools
Inventory
To create a record for an item you buy, sell and inventory
Note: Don't feel pressured to inventory every item
The Items List window should be displayed.
- Click New. (Creating items)
- 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 the item number won't appear on printed forms.
- Enter the name of the new item in the Name field using up to 30 characters.
If your company has many items in stock, your list of items is probably long. You may prefer to enter items and sort your item search lists alphabetically by the items' names instead of by the items' numbers. If you want to use this alternative, in the Windows view of the Preferences window, mark the preference Select Items by Item Name, Not Item Number.
- Mark the three boxes labeled I Buy This Item, I Sell This Item and I Inventory This Item. As you mark these boxes, you'll notice that other fields automatically appear in the window.
- In the Cost of Sales Account field, enter the account you want to use to track the costs associated with selling this item.
- In the Income Account for Tracking Sales field, enter the account you want to use to track the income you receive from the sale of this item.
- In the Asset Account for Item Inventory field, enter the number of the account you want to use to track the total value of this item.
Note that you can use the Company Data Auditor to compare your total on-hand inventory values with the linked inventory account balance.
- Next, you'll enter purchasing information for the item. Click the Buying Details tab at the top of the Item Information window to display the Buying Details view.
- 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.
- In the Number of Items per Buying Unit field, enter the number of items that make up one buying unit, that is, the number of items that will be added to your inventory each time you purchase one of these items.
The number you enter depends on how you count your inventory. While in many cases the number you enter will be 1, if you purchase lamps in pairs and you sell lamps individually, for example, you'll enter 2 if you want your inventory to increase by two individual lamps each time you purchase one pair of lamps.
- 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.
- Enter the Optional Restocking Information if you with to use the To Do List to automatically create an order for this item whenever this item's quantity level falls below its reorder level. (These field appears only if the I Buy This Item selection is marked in the Profile view.)
You should also enter this information if you wish to create a purchase using the Backorder List window.
- Next, enter selling information for the item. Click the Selling Details tab at the top of the Item Information window to display the Selling Details view.
- In the Base Selling Price field, enter the price at which you usually sell one selling unit 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.
- In the Number of Items per Selling Unit field, enter the number of items that make up one selling unit, that is, the number of items that will be subtracted from your inventory each time you sell one of these items.
The number you enter depends on how you count your inventory. While in many cases the number you enter will be 1, if you buy lamps individually but sell them in pairs, for example, you'll enter 2 if you want your inventory to decrease by two individual lamps each time you sell one pair of lamps.
- 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. Click OK to add this item record to the Items List,
- If you need to enter an opening quantity or value for the item or if you wish to enter additional information, continue creating the record using the procedure To add a new item -- all types -- continue with step 2.
If you store this inventoried item in multiple locations, also continue creating the record using the procedure To add a new item -- all types -- continue with step 2.
Related topics
