Add and edit products (stock and non-stock) and services

You can keep a record of Stock items that you regularly buy and sell. This can include how many you have in stock, how many you’ve bought and sold and where an item is stored.

You can use both Stock and Non-stock items.

  • Stock – Stock items are products that you want to count and track. When you buy and sell these items, the number in stock is increased or reduced. This mean that you can’t sell an item by adding it to a sales invoice, if you don’t enough in stock. You can also report on all the activity relating to a stock item.
  • Non-stock – Non-stock items are products that you don’t want to track. For example, you might use non-stock items for small things that you don’t count, such as screws or bolts. You can still add them on sales and purchase invoices but the number in stock is not recorded.

For non-physical items that you buy and sell, such as time or labour, you can create Service items.

If required, you can import your stock, non-stock and service items from a CSV file.

Add a stock item

  • 1. Go to Products & Services, and click New Item.
  • 2. Select Stock and enter the following information:
Item Code Enter a code for this stock item.
Item Description * Enter a description for the stock item.This is what prints on your invoices.
Category Choose the category for the stock item. This is used to group stock items together.
  • 3. Under I Sell This Item, complete the following information:
Price Name By default, you can have three pricing levels: Sales Price, Trade and Wholesale. You can then choose which pricing level to use when you create the invoice.
If necessary, you can change the price names and add more price levels in the Record and Transaction Settings.
Price ($) Enter an amount for each price name.You can choose which price to use when you create an invoice.
Sales Account Choose the default sales account for this stock item.

When you create an invoice, you can overwrite the ledger account, tax rate and sales price.

  • 4. Under I Buy This Item, complete the following information:
Vendor Code Enter the short name or code for the vendor of this item.
Usual Purchase price Enter the normal cost price. This price is used by default when you enter a purchase invoice.
If you don’t enter a price here, it’ll be automatically updated with the price from the next purchase invoice or stock adjustment for the item.
Purchase Account Choose the default purchase account to use for this item.
We recommend that you use an Asset account (from the Balance Sheet). This is so that when you buy the item, it represents as an asset to the business. When you sell the item, you need to post a journal to account for the cost of the sale and move the value to your P&L.
Reorder Level Enter the quantity of stock at which new stock should be ordered.
Reorder Quantity Enter the quantity of stock that you’d normally re-order.
  • 5. Under the Opening Balance section, enter the following information:
I have existing stock on hand Mark if you have stock on-hand for this product.
Quantity on Hand Enter the number of items you have on-hand.
As of Date Enter the date you last inventoried the item.
Cost Price Enter the cost price of the item.
  • 6. Under Additional Information, complete the following:
Product Group If you’re using analysis types for your Stock items, then choose the Product group here.
You can only see this, if you’ve set up Analysis types in the Settings.
Location Enter the location of your stock item (up to 25 characters). This just records where the item is stored as free text. You can’t set up pre-defined locations or move the stock between locations.
Barcode This should be text and can be up to 60 characters.
Weight Enter the weight of the item. This should be in the unit that you specified in the Record and Transaction Settings.

Enter any additional notes as required.

Your new stock item is ready to use.

Add a non-stock item

  • 1. Go to Products & Services, and click New Item.
  • 2. Select Non-stock and enter the following information:
Item Code Enter a code for this stock item.
Item Description * Enter a description for the non-stock item.This is what prints on your invoices.
Category Choose the category for the stock item. This is used to group non-stock items together.
  • 3. Under I Sell This Item, complete the following information:
Price Name By default, you can have three pricing levels: Sales Price, Trade and Wholesale. You can then choose which pricing level to use when you create the invoice.
If necessary, you can change the price names and add more price levels in the Record and Transaction Settings.
Price ($) Enter an amount for each price name.You can choose which price to use when you create an invoice.
Sales Account Choose the default sales account for this stock item.
Tax rate Choose the default tax rate for this stock item.

When you create an invoice, you can overwrite the ledger account, tax rate and sales price.

  • 4. Under I Buy This Item, complete the following information:
Usual Vendor Code Enter the short name or code for the vendor of this item.
Cost Price Enter the normal cost price. This price is used by default when you enter a purchase invoice.
If you don’t enter a price here, it’ll be automatically updated with the price from the next purchase invoice or stock adjustment for the item.
Purchase Account Choose the default purchase account to use for this item.
We recommend that you use an Asset account (from the Balance Sheet). This is so that when you buy the item, it represents as an asset to the business. When you sell the item, you need to post a journal to account for the cost of the sale and move the value to your P&L.
Reorder Level Enter the quantity of stock at which new stock should be ordered.
Reorder Quantity Enter the quantity of stock that you’d normally re-order.
  • 5. Under Additional Information, complete the following:
Product Group If you’re using analysis types for your Stock items, then choose the Product group here.
You can only see this, if you’ve set up Analysis types in the Settings.
Location Enter the location of your stock item (up to 25 characters). This just records where the item is stored as free text. You can’t set up pre-defined locations or move the stock between locations.
Barcode This should be text and can be up to 60 characters.
Weight Enter the weight of the item. This should be in the unit that you specified in the Record and Transaction Settings.

Enter any additional notes as required.

Your new non-stock item is ready to use.

Add a service item

  • 1. Go to Products & Services, and click New Item.
  • 2. Select Service and enter the following information:
Item Code Enter a code for the service.
Item Description * Enter a description for the service.This is what prints on your invoices.
Category Choose the category for the service. This is used to group service items together.
  • 3. Under I Sell This Item, enter the following information:
Rate Enter the amount for each active rate. You can then choose which rate to use when you create the invoice. You can then choose which rate to use when you create the invoice.
Sales Account Choose the default sales account for this service.
  • 4. Under I Buy This Item, enter the following information:
Usual Vendor Select the vendor from whom you usually buy this service.
Expense Description Enter a description of the service to print on your invoices.
Cost Price Enter the price at which you buy this service. By default, this price is used when you enter an invoice. If you do not enter a price, this field is automatically updated with the price you enter for the service on your next invoice.
Expense Account Select the general ledger account to which you want to post expenses for this service.
  • 5. Under Additional Information, any additional notes as required.

Your new service item is ready to use.

Edit a stock item, non-stock item, or service

  • 1. Go to Products & Services and click the item.
  • 2. Click Edit, then change the details as required.
  • 3. Click Save.

If you no longer using an item, choose to make it Inactive.

After you have edited a product or service, the changes you made will not be applied to existing open invoices. If you want to apply your changes to them, follow the steps below.

  • 1. Locate and then click to open the invoice.
  • 2. Click Edit.
  • 3. On the line you want updated, select a different item and then select the correct item again.
  • 4. Click Save.

Delete a stock item, non-stock item, or service

If an item has never been added to an invoice, you can delete it.

You cannot delete an item once you have used it on an invoice. If you’re no longer using an item, we suggest that you mark it as Inactive.

  • 1. Go to Products & Services.
  • 2. Select the check box next to the item record.
  • 3. Click User-added image at the top of the list and then click Yes to confirm.