There can be lots of information to enter when you set up a new product. The New Product wizard helps you to enter all the important information needed in one place. The step-by-step approach is great if you're new to products and want to make sure you cover everything. When you are more experienced, you can use the Product Record option to create records more quickly.
You can use this to work through each page as required.
Enter the details as follows:
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Description |
Enter up to 60 characters for the product name or description. This
prints on reports and automatically appears when you enter
this product code on any product invoices or credit notes |
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Code |
Enter a unique product code, up to thirty characters. |
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Location |
Enter the location of the product item, up to sixteen characters. For example, a warehouse or bin number. |
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Category |
You can categorise your products into different product types. You can then analyse these when you run your reports. Use the drop-down list to choose one of the nine hundred and ninety nine category codes available. |
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Intrastat Com. Code |
This information is only used if your business produces Intrastat returns. The first eight digits appear in your Intrastat declaration. The last two digits are for TARIC purposes when dealing with import duty and can be used in customised reports to show the 10 digits. For further information about commodity codes please contact your relevant tax authority. UK businesses should refer to HM Revenue & Customs. Businesses in the Republic of Ireland should refer to Revenue. |
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Weight (kg) |
If necessary, enter the weight of your product here. This updates in the product record and used for reporting purposes. |
| Supp. Unit Qty |
This information is only used if your business produces Intrastat returns. For each Intrastat Commodity Code, either the Net Mass needs to be reported, or both the Net Mass and the Supplementary Unit Quantities need to be reported. For example, when reporting on Christmas trees (06042020), it is required that the number of units (p/st) be reported, as well as the Net Mass. |
Enter the details as follows:
| Sale Price |
Enter the net selling price - excluding VAT. |
| Sales Nominal Code |
This is the sales nominal code you want the value of this item to update when you include this product on a product invoice or credit note. Use the drop-down list to choose an existing nominal code. |
| Unit of Sale |
If applicable, enter up to eight characters to describe the unit of sale, for example, each, box, or 10-pack. |
| EC VAT Description |
From the drop-down list, choose a default EC Sales description to use when creating new products. Tip: To review the default descriptions, Settings > Company Preferences > VAT > EC VAT Descriptions. |
| Tax Code |
Use the drop-down list
to choose the VAT rate to apply by default, when you raise a product
invoice or credit note,
|
|
Department |
If applicable, you can assign the product to a department. Enter the number you require, or use the drop-down list to choose one of the nine hundred and ninety nine department codes available. |
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Item Type |
From the drop-down list, choose the type of product record. |
Enter the details as follows:
| Supplier A/C |
Enter the account code for the supplier of this product. |
| Part No. |
Enter a product reference number here, using up to sixteen characters, for example a supplier’s reference. |
| Purchase Nominal Code |
Sage Accounts Professional onlyThis is used to identify the purchase nominal account,
to which the value of this item posts, when you include this product
on a purchase order. |
|
Re-Order Level |
Sage Accounts Professional onlyIf you are creating a stock item, when the stock falls below this number an order for more stock is automatically created. |
| Re-Order Qty |
Sage Accounts Professional onlyIf you are creating a stock item, select the quantity you want to be ordered when you reach the re-order level. |
|
Cost Price |
Enter the cost price for the new product. |
Select an option > if you have an opening balance to enter, refer to the table below > Create.
Note: Entering a product opening balance does not affect your nominal accounts. It simply adds the product's quantity and value to the record.
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No, there is no opening balance to enter |
If there is no opening balance to enter, select this option. | ||||||||
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Yes, I wish to enter an opening balance |
If you have an opening balance to enter, select this option.
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