This is the unique code of identification for the product or service. Each product code must be unique within the record system. You are required to enter this code when entering a detail line on an invoice or credit memo. We recommend that each product code have some resemblance to the product or service name to make it easier to remember. We also suggest that an abbreviation of the product or service name be used to speed up the data entry of invoice or credit memo detail lines. For example when entering the product named floppy disk you might want to give the product a code name of fldsk.
This field is the full description of the product or service. This is the default description for the product for the invoice, credit memo, sales order, and order entry details. It is displayed on the detail lines as the product code is entered. The actual hard copy of the invoice includes this description.
This field is used to group the inventory products. It is useful when searching for a product code.
Enter into this field the general ledger account number to be used for accumulating sales. The sale of products using the invoice system posts a "credit" to this income account. The return of products using the Customer Credit Memos screen posts a "debit" to this account. Entry to this field is required. Invoices or credit memos cannot be entered for a product without a valid sales account.
There is a validation screen associated with this field that accesses the General Ledger master file. If you cannot remember which general ledger account you should enter here, do the following:
1. With the cursor in the Sales Account field, press the VALID button (GOLD <F1> key and then press the V key). The general ledger validation screen is displayed.
2. Press the QUERY <F2> button and then press the FIND NEXT <F3> button until the desired general ledger account is displayed.
3. Press the GOLD <F1> key and then press the E key to redisplay the Inventory Products screen with the chosen general ledger account entered into the Sales Account field.
The selling price that is entered into this field is the default selling price for the product when it is used on an invoice or credit memo.
This field specifies whether or not this product is taxable or not. Enter a y for yes or a n for no. This is the default value for the Tax field on the invoice and credit memo detail screens.
This field indicates whether or not this product can be discounted. Enter y for yes or n for no. The invoicing system uses this information in calculating the discount amount for the invoice.