Entering Stock Details

Tapping Add a new stock item or i in the Stock screen displays the Product Settings form. You can use the form to view, modify or enter the details of a product.

You can also use the screen to delete the product, but only if there are no transactions linked to it. If the product can be deleted, scroll to the bottom of the list of settings and tap Delete Product.

Further Information

This help topic describes the options in the form. If you require other introductory information, please refer to:

Options in the Form

Name

Each product should have a unique name so you can identify it easily.

Description

The description is optional. If you add a description, this is used instead of the name when the product appears on an estimate or sales invoice. If you are selling time-based products, you may choose to include the units of measure. For example "Labour (days)".

Type

An product can be set to one of two types:

  • Service - The product can be sold, but has no cost component and cannot be purchased. The product only requires a link to the appropriate income account to record sales into.
  • Stock - The product is a physical stock item. The product requires links to the appropriate asset, expense and income accounts in order to record sales amounts and devalue the stock as you sell.
Linked Accounts
  • Asset Account (This setting only applies to stock products) - Choose an asset account to track the value of stock. This is normally an account in the category *Other assets and liabilities** such as Stock.

  • Expense Account (This setting only applies to stock products) - Choose an expense account to track the value of stock. This is normally an account in the category Direct expenses such as Cost of sales.

  • Sales Income - Choose an account so that Easy Books knows which income account to apply sales income to.

Opening Cost

It is normal to leave this set to zero unless you already have stock of the product recorded in your asset account.

Opening Quantity

It is normal to leave this set to zero unless you already have stock of the product recorded in your asset account.

Selling Prices

Choose a quantity and selling price. You can add as many prices as you like to offer volume discounts.

Active

When you no longer need to create sales and purchases for a product it can be useful to mark it as inactive.

Inactive products do not normally show up in the product list screen. If you want to show all products, both active and inactive, see "Show Inactive Items" on Using the Settings screen.