Maintain Inventory Item
For making a maintain
inventory item in a peach tree accounting software first we have to open a
software then we have to clicking on maintain button then there are some
options appears then we have to choose the inventory item (5th)
option .
After doing this click on
the inventory item button then the following window will appears.
After doing this first of
all we have ITEM ID
Item ID:
This identifies the item in lookup lists.
First of all enter an ID for new inventory item. Inventory items are written in
numbers coming before letters. We can check this inventory items through the
look up button. In item
Id we are able to write up to 20 numeric or alphabetically numbers or both.
Item Description:
In this tab we have
to give a short description about item or inventory usually same as General
ledger account for inventory is written in this section.
Item class:
In this tab we have two
types of classes that are INACTIVE and Subject To
Commission.
1.Inactive: This option is used when company no longer
wants to use particular inventory in future and if company use that inventory
software will give warning.
2. Subject to
Commission: This
option is useful when the inventory is sold and the amount includes commission
in Account Receivable.
After doing this we have
the TAB FIELD
In this tab we have three
fields
1. General Tab 2. Custom
Field 3. History
First of all we have the
general tab option
Description only:
In this tab we can write
any type of information which is just like a comment about inventory.
Price level 1:
In this tab we can set a
level of price for inventory.
Item Tax Type:
We can use this
option when company marked out the inventory with specific type. You can see
item type by using look-up button.
Last Unit Cost:
In this we can enter the
cost of last unit we sold or purchase.
Cost Method:
In this we have three
methods for costing inventory LIFO, FIFO, And Weighted Average Method.
GL. Sales Account:
In this we have to give
sale account that we maintain in General ledger accounts (Income).
GL. Inventory Account: in this we have to give Inventory account
that we maintain in General ledger accounts (Inventory Account).
Item Type:
In this we have to
write type of item, that it may be perishable, non-perishable.
Location:
In this we have to write
the location that where the inventory exist or place.
Weight:
In this we have to write
about the weight of inventory that we have in stock.
Minimum Stock: In this we have write about
Quantity of Stock, it means when our stock reach this limit the software will
warn us.
After doing this we have
the 2nd field CUSTOM FIELD.
Custom Fields:
Custom Fields allow us to
set up and store data of your business. If you have set up labels for custom
fields in Inventory Item then you can enter the information for the fields
here. You can enter up to 40 alphabet is and numeric characters in it.
After doing this the 3rd field
is HISTORY
In the history tab we
have 5 options
1. Period history
2. #Unit sold
3. Sales $
4. # units received
5. Costs $
