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If you sell stock or services, you can add these as items in MYOB Essentials. This speeds up your invoice entry by being able to select an item - instead of manually typing its description each time you sell it.
Before you start creating items, consider using a naming method for item numbers and item names, so that similar items are sorted together.
Importing items If you use MYOB BusinessBasics or a product from the MYOB AccountRight range, you can import your items into MYOB Essentials. For more information see Importing items into MYOB Essentials.
To create an item
If you don’t yet know all the details of the item you’re creating, or you need to create it quickly, you can start by entering only the required details—the Item name, Item number, Allocate to and Tax Rate (Australia) or GST Type (New Zealand) fields. You can add the other details later.
- From the Sales menu, choose Items. The Items page appears.
- Click Create Item. The Item page appears.
- Complete the fields in the first section:
- Item name—enter a short item name.
- Item number—enter an item number.
- Unit of measure—enter a unit of measure for the item (Qty or Hours).
- Description for invoices and bills—enter a detailed item description, for use on invoices and bills. Note that if you leave this field blank, the Item name will be used as the description.
- Complete the fields in the Selling Details section:
- Sell Price—enter the price of the item, excluding tax or GST. This will be rounded to 2 decimal places.
- Allocate to—select the account to which you want sales of this item allocated.
- Tax Rate or GST Type—select the tax rate (Australia) or GST type (New Zealand) to be applied when selling this item.
- Unit of measure—select whether the item is sold as a quantity or as a number of hours.
- Unit description—enter more details about the unit of measure.
- Complete the fields in the Buying Details section:
- Buy Price—enter the cost of the item, excluding tax or GST. This will be rounded to 2 decimal places.
- Allocate to—select the account to which you want purchases of this item allocated.
- Tax Rate or GST Type—select the tax rate (Australia) or GST type (New Zealand) to be applied when purchasing this item.
- Click Save to save your item details.