Adding/Editing Product Types
Fields
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DESCRIPTION |
A description of the Product Type. |
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ID |
Enter an eight character unique code for this Product Type. |
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CATEGORY |
This field allows you to further subdivide each Product Type on sales reports. This field is completely independent of the same field name used in other Main Data Files, and its use is strictly optional. Example: You may sell a wide variety of forms, but want to have sales totals for only those forms which are used in computers. You might then set up Product Types and Categories like this: Product Type Category Ad Specialties MISC Brochures DESIGNS Checks COMPUTER Invoices COMPUTER Letterhead GENERIC Snap Outs COMPUTER Stock Paper COMPUTER To get an instant readout on Year To Date Sales of all COMPUTER products is print a list of Product Types with CATEGORY=’COMPUTER’. |
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DISCOUNTABLE? |
Checking this box automatically checks the Discountable field on Vendor Bill Line Items created automatically from Sales Orders (either when a line item ships or when the Sales Order is invoiced.) |
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POST TO A/R? |
Checking this box posts sales of products to accounts receivable. Sales of products without this box checked are not posted to the customers balance due. |
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POST TO A/P? |
If you check this box, the costs of sales of products linked to this product type will automatically post as a bill to a vendor when the sales order is invoiced. |
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EXPENSE |
All Product IDs assigned to this Product Type will post to this Cost Of Goods Expense Account in your General Ledger. |
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INCOME |
All products assigned to this Product Type will post to this Revenue Account in your General Ledger. |
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INVENTORY |
Product IDs assigned to this Product Type will post to this Inventory Asset Account in your General Ledger. |
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PAY COMMISSIONS? |
Unchecking this box disables commissions from being calculated for sales of products of this type. If you have custom-written commission reports, this field may be disabled. |
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DEFAULT COMM % |
The default sales commission percentage for products sold which are assigned this Product Type. (This is only active if your Commission Method is set to Product Type in SETUP|Sales & A/R Options). The commission displayed will be this percentage of the calculated profit. If you have custom-written commission reports, this field may be disabled. |
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COMMISSION TABLE |
Selecting a Commission Table here forces sales of all items of this type to use the tables commission formula. This field overrides any other commission formula (such as a default for the Sales Representative or Customer.) If you have custom-written commission reports, this field may be disabled. If you select a Commission Table you should leave the Default Commission % field empty. |
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The default mark up of cost for all new products entered with this Product Type. For example, you may decide that all products with a Product Type of STOCKTAB should automatically have a 15% mark-up, while custom labels may get 25%. This automates that process. When a user enters a new Product into the products browse, the Unit Price automatically defaults to the Unit Cost plus the percentage entered here. |
Spec Type & Favorite Vendors Tab
This browse box lets you assign your preferred vendors for each product type. These can then be used to auto-populate RFQs with these favorite vendors, automatically, or have Simple Accounting limit your choice of vendors to these on RFQs, Sales Orders and Purchase Orders.
This set of radio buttons lets you select which type of spec sheet to print when ordering any product linked to this Product Type. Available options are:
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Ad Specialties |
Flat/Commercial |
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Binders |
Labels/Register Tapes |
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Business Cards |
Service (No Spec) |
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Checks |
Snap Out |
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Continuous/Unit Sets |
Stock/Office |
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Envelopes |
Free Form |
If you so desire, you may have separate purchase orders and requests for quotes, keyed to the type of product you are buying and selling. These may be purchased through our Forms Design Service. Selecting a different value for the SPEC TYPE field tells Simple Accounting which data entry screen to use and which purchase order, RFQ to print.
So for example, all Products assigned to all Product Types with an L in this field might offer a separate P.O. and RFQ optimized just for Labels.
Totals & Notes Tab
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NOTES |
Enter any free text you wish to describe how this Product Type is used. |
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These notes appear in the browse when selecting a Product Type as you add or edit Products. So you might enter text here to help operators select the proper Product Type. |
The remaining fields are not entered by the user, but are automatically updated as you use Simple Accounting:
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SALES |
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MTD |
The total sales of goods of a product assigned to this Product Type since the last Period Update. |
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YTD |
The total sales of products assigned to this Product Type since the last Year-End Close. |
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Last Year |
The total sales of products assigned to this Product Type in the prior year. |
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COSTS OF GOODS SOLD |
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MTD CoGS |
The total cost of goods of products assigned to this Product Type since the last Period Update. |
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YTD CoGS |
The total cost of goods of products assigned to this Product Type since the last Year-End Close. |
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Last Year CoGS |
The total cost of goods of products assigned to this Product Type in the prior year. |
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IMPORTANT DATES |
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Last Sale Date |
The date of the last sale or other debit of a product assigned to this Product Type. |
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Last Purchase Date |
The date of the last purchase of a product assigned to this Product Type. |
