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  • Creating, editing and deleting items

 

 

Before you begin to track your inventory, you need to create a record for each item of inventory. An item can be:

  • a physical unit that your company may buy, sell or inventory
  • a service that your company wants to include on item invoices, for example, ‘On-site service fee’, ’Handling’, ‘1-hour consultation’ and so on.

If an item's details change (like the selling price) you can update it - one item at a time or in bulk.

If an item hasn't been used it can be deleted. Otherwise you can make the item inactive.

 

To create an item

To create an item

Using AccountRight Basics? See To create an item (Basics) below.

  1. Go to the Inventory command centre and click Items List. The Items List window appears.
  2. Click New. The Item Information window appears.
  3. In the Item Number field, type a unique identifier and press Tab.
  4. In the Name field, type the name of the new item.

    To copy another item’s information to this item record, click Copy From and choose the item whose information you want to copy. All information for that item will be copied to the current item except the item number, name, supplier number, auto-build information and history information.

    To search the Item to Copy From window, press the keyboard combination CTRL+SHIFT+F to display a search box.

     

    1. Specify whether you buy, sell or inventory this item by selecting the relevant options. As you select the options, account fields appear next to them. These fields change according to the combination of selections you make.

      Select...For...
      I Buy This Item
      Items or services you want to include on an item purchase order.
      This includes items that are not for resale, such as items for office use only. It can also include raw materials you use as components to build other inventory items.
      To be used if you're running a perpetual inventory management system.
      I Sell This ItemItems or services you want to include on an item invoice. To be used if you're running a perpetual inventory management system.
      I Inventory This Item
      Items you buy or sell and whose quantity and values you want to track. It can also include intermediate goods used in the productions process, such as parts used to manufacture finished goods.
      Maintaining an accurate record of on-hand levels of these items requires you to do regular maintenance tasks. For example, you need to record inventory adjustments to write-off damaged items or to record a stocktake.
      Use only if you're running a perpetual inventory management system.
  5. Enter the appropriate accounts in the fields that appeared during the previous step.

    AccountDescription
    Cost of Sales AccountEnter the account to use for tracking the costs of producing or purchasing this item.
    Income Account for Tracking SalesEnter the account to use for recording income from the sale of this item.
    Asset Account for Item InventoryEnter the account to use for recording the on-hand value of this item.
    Expense Account for Tracking CostsEnter the account to use for tracking the costs of purchasing this item.
  6. Click the Item Details tab and enter additional information about the item. To learn more, see Item pictures, Custom item lists and Custom item fields.
  7. If you buy this item, click the Buying Details tab and enter your buying details.

    Item information window with buying details sections identified with A B C D and E

    A
    [Optional] Type the Standard Cost of the item. This needs to be the tax inclusive value. You can set this cost as the default price for purchases, instead of the last purchase price. You can change this cost on each purchase.
    To use the standard cost, go to the Preferences window, click the Inventory tab, and select the Use Standard Cost as the Default Price on Purchase Orders and Bills option.

    B

    Type the unit of measure (such as ‘each’ or ‘unit’) in which you purchase the item. The buying unit is printed on the purchase order. For example, if you buy eggs by the carton unit, when you order five units in a purchase, you are ordering five cartons.
    CIf you track on-hand quantities and values for this item, type the number of items that comprise a single buying unit. This is the number that is added to your on-hand inventory for every buying unit. For example, if you buy eggs by the carton and track their purchase individually, enter 12 as the number of items per buying unit. When you buy one carton, your item inventory is updated by twelve items. If you leave this field blank, the value defaults to one.
    D

    [Optional] Enter the restocking information:

    • Type the minimum level of this item you want to keep in your inventory. When the quantity drops below this level, a re-order reminder appears in the To Do List.
    • Enter the supplier from whom you usually re-order this item.
    • Type the supplier’s number for the item.
    • Enter a re-order quantity for the item.
    EChoose the tax or GST code you want to use when you purchase this item. You can override the code when you record the purchase.
  8. If you sell this item, click the Selling Details tab and enter your selling details.

    Item information window with selling details sections identified with A B C D E and F

    AType the retail price of one selling unit.
    BType the selling unit of the item (such as ‘each’ or ‘unit’) . You can type up to five characters. The selling unit can be printed on the item invoice. If, for example, you sell by the six-pack, when you sell five units, you will be selling five six-packs.
    CIf you track on-hand quantities and values for this item, type the number of items that comprise a single unit in this field. This is the number that is subtracted from your on-hand inventory for every selling unit. For example, if you sell by the six-pack, enter 6 as the number of items per selling unit. When you sell one six-pack, your item inventory is reduced by six items.
    DYou can set pricing levels for different kinds of customers. See Custom price levels .
    ESelect the tax or GST code you want to use when you sell this item. You can override the code on invoices.
    FIf the prices on the Selling Details tab are tax or GST inclusive, select the Prices are Tax Inclusive (Australia) or Prices are GST Inclusive (New Zealand) option. If the prices are exclusive of tax or GST, deselect this option.
  9. If this is an item that you build using other components in your inventory, click the Auto-Build tab and enter the required details. For more information, see Auto-building items.
  10. Click OK.

    If you have existing on-hand quantities of inventory items, you need to record the opening inventory level for each item. For more information, see Enter your item opening balances.

To create an item (Basics)

To create an item (Basics)

  1. Go to the Lists menu and select Items. The Items List window appears.

  2. Click New. The Item Information window appears.
  3. In the Item Number field, type a unique identifier and press Tab

  4. Enter details about the item in the relevant fields:

    Item information with sections identified with A B C D and E

    AType a name for the item.
    BSelect the account you want to use to record the income you receive from the sale of this item.
    CEnter the retail price of one selling unit. If this price includes tax or GST, select the Prices are Tax Inclusive (Australia) or Prices are GST Inclusive (New Zealand) option. If the price is tax or GST exclusive, deselect this option.
    DType the selling unit of the item (such as ‘each’ or ‘unit’). You can type up to five characters. The selling unit is printed on the item invoice. If, for example, you sell by the six-pack, when you sell five units, you will be selling five six-packs.
    ESelect the tax or GST code you want to use when you sell this item. Note that you can override the code on invoices.
  5. Click the Item Details tab and enter additional information about the item or add a picture of the item.
  6. [Optional] If you want to enter sales history for the item, click the History tab and enter the sales figures for the previous 12 months.
  7. Click OK.

To update an item

To update an item

If you need to update the details in an existing item:

  1. Open the item (go to Inventory > Items List > click the zoom arrow to open the item).
  2. Make the required changes.
  3. Click OK.

    If you make a change to an item while an invoice using the item is open, click the item list and hit Refresh. Any changes you've made to the item will be updated in the invoice.

For details on where specific information is recorded in an item, see the information above.

To update multiple items at once

To update multiple items at once

If you need to update lots of items, it might be easier to use AccountRight's import/export function instead of updating the items one by one.

Here's a video which explains the process of bulk updating item prices, but the same approach can be used for any bulk update.

 

 

Here is the basic process. For more details, follow the links in each step.

  1. Export the items you want to update
  2. Open and modify the exported file using Microsoft Excel
  3. Import the updated information back into AccountRight.
To delete an item

To I delete an item

You can only delete an inventory item if you have zero units in stock and the item has never been used in a transaction. If it has been used, you won't be able to delete it, even after deleting any associated transactions.This makes sure you keep a history of records used in transactions for auditing reports.

As an alternative to deleting, you can make the item inactive so it no longer appears in selection lists.

To delete an item:

  1. Go to the Inventory command centre and click Items List. The Items List window appears.
  2. Click the zoom arrow to open the item to be deleted.
  3. Go to the Edit menu and choose Delete Inventory Item.

    Delete Inventory Item greyed-out? Your user role needs to be set up with permission to delete. If you need to regularly change transactions, ask your administrator to add this permission to your user role.

To make an item inactive

  1. Go to the Lists menu and choose Items.
  2. Right-click the item to be made inactive and choose Mark Inactive.
  3. Read the displayed information.
  4. Click OK.
  5. If you later need to activate the item:
    1. Go to the Lists menu and choose Items.
    2. Select the option Show Inactive.
    3. Right-click the item to be activated and choose Mark Active.