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Product Master

Product Master

 

Similar to the Customer Master and Supplier Master , you can create products in the Product Master to record down the details of each product.

Product Master Quick View screen

1.    You can scroll to the right to view the quantities for each product, e.g. for “In Stock”, “Allocated”, “Ordered” and “Free Stock”

2.    The Print button is a shortcut to the Stock List report under the Reports column

 

Create New/Edit Products

Select New to create a new product and double click to edit the product details of an existing product.

Product Details tab

 

Product Code: This is a unique code to identify a product. It has a maximum length of 30 characters (letters or numbers). Similar to the customer code and supplier code, this code cannot be changed after you have saved the product.

 

Product Name: Type in the name of the product in this field

 

Description: Key in as much details as possible for this product here. The Customs may need this information about your product

 

Brand Name: The brand of the product (if available)

 

Category: This is to filter the product in reports. For example, you can filter to select only products in Category A to appear in reports. Create this under Product Category in the Stock Control module

 

Item Type: Select from Stock Item, Non-Stock Item or Service Item. This is only for making a note. (Non-Stock Items and Service Items will still update stock quantity.)

 

Net Sale Price: This is to set the default sale price that is picked up in sale transactions

 

Inclusive tax checkbox: see Inclusive Tax for Net Sale Price in Product Master below

 

Cost Price: Type in the cost price that is picked up in transaction screens with stock control (e.g. Purchase Order, and transactions in the Invoicing module)

 

Units: This is to set the default Unit of Measurement for this product (e.g. kg, ml etc).

 

Weight: You can make a note of the weight of this product here

 

Salesman Commission: Set the amount of commission per unit of product

 

Image

You can add or remove an image file (e.g. .gif etc) to this product here.

 

Stock Status

This is to check to quantity of stock “In Stock”, “Allocated”, “On Order” and “Free Stock”.

 

 

Inclusive Tax for Net Sale Price in Product Master

You can set the default net sale price field to be inclusive of tax. This price and the tax amount are picked up when you select the product code (e.g. in Issue Invoice etc).

Example: Set the default net sale price of 5000 to be inclusive of tax.

Step 1: Key in 5000 in the Net Sale Price field

Step 2: Tick the Inclusive Tax checkbox. The amount 5000 becomes inclusive tax total amount

Step 3: Save the product

Note on how to calculate inclusive tax

Net Sale Price becomes the amount before tax (exclusive tax)        = 5000*100/106          = 4716.98

The tax amount                                                                        = 5000*6/106  = 283.02

Total Sale Price (inclusive tax)                                               = 5000 (the figure you keyed in)


 

Default Settings tab

 

 

Default Settings

You can set the default GL, tax and other codes for this product. These codes are chosen when you select this product code in transactions (e.g. when you select this product code in Issue Invoice, then the Sales Code is 51100 [in red box]).

 

Ordering

Re-order Level: You can make a note here of the minimum quantity of stock when re-order should be done

Re-order Quantity: This figure appears when you generate the Stock List report

 

Supplier & Part Number

You can make a note of the supplier account code (created in Supplier Master) that you have bought this product from and their part number for this product. For example, you can refer to this when you issue a purchase order for this part.

 

Alternative Suppliers & Part Numbers

You can make a record of the alternative suppliers by selecting their supplier code, name, part number and cost price in this table. This keeps a record for you to compare their prices and you can refer to this table for the part number when making an order. Similar to the Supplier & Part Number above, there are no actual postings, but this table is just for making a note.