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The New Item window allows creating of the new item in Free Accounting. There are four types of items:
- Assembly Item (Note: this feature is for registered users of the Free Accounting application only)
If you want to add a new item, you should select Items / New Item from the Free Accounting main menu. The New Item window will appear where you can create a new item.
INVENTORY ITEM - Select this type from the drop down to create an inventory item.
Item Information Tab
Common Information:
Number - The unique number of the item in Free Accounting.
Description - The field used to desribe the current item in order to keep Free Accounting records in order.
Subitem of - Select the item that is parent to the current one.
Unit of Measure Relation:
Smallest UOM - The smallest Unit of Measure in which the item can be broken.
UOM Relation - Each UOM must be related back to the Smallest Unit of Measure. Items can only be sold and purchased in units of measure that have been defined for that item. Start by relating the Smallest UOM to itself and then work back to Purchased UOM. Each UOM has to be defined only once.
Inventory Information:
UPC - UPC Code for the item. This code is usually accompanied by vertical bars on the item's packing.
Inventory Account - This account is affected when purchase transactions with the item are performed.
Stock Uom - The Uom in which the current item is stored.
Purchase Information:
Description on Purchase Transaction - This is any additional information about the current Free Accounting purchase transaction.
Cost (per smallest UOM) - This is the cost of the item which is used when the item is purchased.
COGS Account - The account selected from the drop-down table is affected when transactions are performed with the item.
Purchase Uom - The UOM in which the item is purchased.
Preferred Vendor - This is the Vendor the item is normally ordered from.
Sales Information:
Description on Sales Transaction - This is any additional information about the current sales transaction.
Sales Price (per smallest UOM) - The sales price of the item.
Income Account - The account selected from the drop-down table is affected by sales transactions with the item.
Sell Uom - The UOM in which the item is sold.
Warehouse Location - The location of the item in the warehouse.
SERVICE ITEM -Select this type of items to create a service one, which is some work or service done for the customer. This type of the items doesn't have a quantity on hand.
Item Information tab
Common Information:
Number - The unique number of the item in the Free Accounting program.
Description - The field used to desribe the current item to keep records in order.
Subitem of - Select the item that is parent to the current one.
Unit of Measure Relation:
Smallest UOM - The smallest Unit of Measure in to which the item can be broken.
UOM Relation - Each UOM must relate to the Smallest Unit of Measure. Items can only be sold and purchased in units of
measure that have been defined for that item. Start by relating the Smallest UOM to itself and then work back to Purchased UOM. Each UOM
should be defined only once.
Service Information
Account - Select the account which will be affected by the transaction with the current item.
Rate - The rate for the current service item.
Is Taxable - Check this check box to make the service item taxable.
This Service is Performed by the 3d Party - Check this check box to let the 3d party perform the service.
Purchase Information:
Description on Purchase Transaction - This is any additional information about the current purchase transaction.
Cost (per smallest UOM) - This is the cost of the item which is used when the item is purchased.
COGS Account - The account selected from the drop-down table is affected when transactions are performed with the item.
Purchase Uom - The UOM in which the item is purchased.
Preferred Vendor - This is the Vendor the item is normally ordered from.
Sales Information:
Description on Sales Transaction - This is any additional information about the current sales transaction.
Sales Price (per smallest UOM) - The sales price of the item.
Income Account - The account selected from the drop-down table is affected by sales transactions with the item.
Sell Uom - The UOM in which the item is sold.
Description - This is an additional information about the transaction with the current service item.
PRODUCT GROUP - Select this to create a product group, which is a large classification of items.
Item Information tab
Common Information:
Code - The unique number of the new product group in the Free Accounting application.
Description - This is an additional information about the product group.
SubItem of - Select the item that is parent to the current group.
Group name - This is a name of the new product group.
INVENTORY ASSEMBLY ITEM - Choose this to create an assembly item, which is comprised of items
that are purchased separately, but sold together. After the assembly item is created it should be built in the Build Assemblies Lists window.
Note: This feature is available only to registered users.
Item information tab
Common Information:
Number - The unique number of the item.
Description - The field used to desribe the current item to keep records in order.
Subitem of - Select the item that is parent to the current one.
Unit of Measure Relation:
Smallest UOM - The smallest Unit of Measure in to which the item can be broken.
UOM Relation - Each UOM must relate to the Smallest Unit of Measure. Items can only be sold and purchased in units of
measure that have been defined for that item. Start by relating the Smallest UOM to itself and then work back to Purchased UOM. Each UOM
should be defined only once.
Inventory Information:
UPC - UPC Code for the item. This code is usually accompanied by vertical bars on the item's packing.
Inventory Account - This account is affected when purchase transactions with the item are performed.
Stock Uom - The UOM in which the current item is stored.
Purchase Information:
Description on Purchase Transaction - This is any additional information about the current purchase transaction.
Cost (per smallest UOM) - This is the cost of the item which is used when the item is purchased.
COGS Account - The account selected from the drop-down table is affected when transactions are performed with the item.
Purchase Uom - The UOM in which the item is purchased.
Preferred Vendor - This is a Vendor the item is normally ordered from.
Sales Information:
Description on Sales Transaction - This is any additional information about the current sales transaction.
Sales Price (per smallest UOM) - The sales price of the item.
Income Account - The account selected from the drop-down table is affected by sales transactions with the item.
Sell Uom - The UOM in which the item is sold.
Warehouse Location - The location of the item in the warehouse.
Assembly Information:
Item - The component item of the assembly item.
Description - The description of the component item.
Qty - The quantity of the item.
Uom - The Unit of measure of the item.
Custom Fields Tab
On this tab you can create the fields that you need for inserting any necessary information about the current item.
See Custom Fields Tab.
Use Search function to find the record of a definite item.
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