How to
Maintain the Inventory Item
Peachtree tracks the inventory items
you buy and sell and automatically updates the quantities after each posted
transaction. It also allows you to store items you do not stock but that you
enter on invoices. This makes entering invoices faster for you.
To maintain the inventory subsidiary
ledgers click on Maintain Menu and then click on Inventory Item….
Following window will appear:
Enter a new item
ID, and complete the necessary item information. When you're finished filling
in the window, select the Save button or click Alt + S to save the
information.
Inventory Item Header Fields
Inventory item header fields are
located above the folder tabs of the Maintain Inventory Itemswindow.
This is where you enter lookup information about the item such as item ID,
name, short description for lists, item class (type of inventory item), and
item status.
Item ID: This identifies the item in lookup lists. Enter an ID of up
to 20 alphanumeric characters for a new inventory item. You cannot use in the
ID code. Inventory items are listed numerically and alphabetically by ID code,
with numbers coming before letters. You might want to code your most frequently
used items so that they will appear first. Remember that the ID code is case
sensitive, so that codes A1 and a1 are seen as two different inventory items.
Back and Next: Use these buttons to navigate through the list of existing
item records by ID. Select the Back (left
arrow) button to see the previous record in the list; select the Next (right arrow) button to
see the next record in the list.
Description: You can enter up to 30 alphanumeric characters for the
description. This description is the short description that
appears in the item lookup lists. You can enter longer descriptions that can be
used in sales or purchase transactions on the General tab.
Attributes: If the ID displayed in the Item ID field is that of a sub
stock item, when you select the Item Attributes tab,
the Attributes field appears. It lists the primary and
secondary attributes of the item. The field is for display purposes only; it
cannot be edited.
Item Class: This identifies the type of inventory item.
Inactive: If you no longer plan to use an inventory item, you can mark
the item as inactive. Once an inventory item record is inactive, Peachtree
displays a warning when you try to sell an inventory item. You can update the
inventory item description. Important: When you choose to
Purge after closing the fiscal year, all inventory items that are not
associated with existing transactions and are tagged as inactive will be
purged.
Subject to Commission: When an item is subject to commission and is sold
through Sales/Invoicing, it is included in the Accounts Receivable Sales Rep Report.
ITEM CLASS
Item
classes define what type of inventory item you are setting up. These are
selected on the General tab of the Maintain Inventory Items
window. Item classes determine how an item's costing information is recorded.
Once an item class is established (saved) for an inventory item, it cannot be
changed. Peachtree allows the following classes of inventory items:
Non-stock: Use this class for items, such as service contracts, that you sell but do not put into your inventory. Quantities, descriptions, and unit prices are printed on invoices, but quantities on hand are not tracked. You can assign a cost of goods General Ledger account to non-stock items, but it is not affected by a costing method.
Stock: Use this item class for traditional inventory items that are tracked for quantities, average costs, vendors, low stock points, and so on. Once an item is assigned a stock class, it cannot be changed.
Master Stock Item: Use this item class when you want to set up a master stock item , a special item that does not represent inventory you stock but rather contains information (item attributes ) shared with a number of sub stock items generated from it.
Sub stock Item: This item class represents the subs tock items generated from a master stock item. You can only display a subs tock item and its characteristics in the Maintain Inventory Items window; you cannot directly set up a subs tock item. Similarly, you cannot delete a substock item in Maintain Inventory Items. The only way to delete a subs tock item is by deleting the master stock attributes from which the substock item is created. For information on setting up master and substock items, click.
Description only: Use this item class when nothing is tracked except the description. For example, "comments" that can be added to sales or purchase transactions are description-only items.
Assembly: Use this class for items that consist of components that must be built or dismantled. For each assembly item, select the Bill of Materials tab, and define the components of the assembly before you click the Save button on the Maintain Inventory Items window. Once a transaction uses an assembly, it cannot be changed.
Service: Use this item class for services you can apply to your general ledger salary and wages account. This is useful for services provided by your employees. You can enter a cost for the service.
Labor: Use this item class for labor you can apply to your general ledger salary and wages account. This is useful for outside labor that you use for projects; you can enter a cost for the service.
Begging balance for item stock:
Non-stock: Use this class for items, such as service contracts, that you sell but do not put into your inventory. Quantities, descriptions, and unit prices are printed on invoices, but quantities on hand are not tracked. You can assign a cost of goods General Ledger account to non-stock items, but it is not affected by a costing method.
Stock: Use this item class for traditional inventory items that are tracked for quantities, average costs, vendors, low stock points, and so on. Once an item is assigned a stock class, it cannot be changed.
Master Stock Item: Use this item class when you want to set up a master stock item , a special item that does not represent inventory you stock but rather contains information (item attributes ) shared with a number of sub stock items generated from it.
Sub stock Item: This item class represents the subs tock items generated from a master stock item. You can only display a subs tock item and its characteristics in the Maintain Inventory Items window; you cannot directly set up a subs tock item. Similarly, you cannot delete a substock item in Maintain Inventory Items. The only way to delete a subs tock item is by deleting the master stock attributes from which the substock item is created. For information on setting up master and substock items, click.
Description only: Use this item class when nothing is tracked except the description. For example, "comments" that can be added to sales or purchase transactions are description-only items.
Assembly: Use this class for items that consist of components that must be built or dismantled. For each assembly item, select the Bill of Materials tab, and define the components of the assembly before you click the Save button on the Maintain Inventory Items window. Once a transaction uses an assembly, it cannot be changed.
Service: Use this item class for services you can apply to your general ledger salary and wages account. This is useful for services provided by your employees. You can enter a cost for the service.
Labor: Use this item class for labor you can apply to your general ledger salary and wages account. This is useful for outside labor that you use for projects; you can enter a cost for the service.
Begging balance for item stock:
Show the table of begging balance first of all
select the item id and then given the amount the put and total show the amount.
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