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11.2 Product Setup

Apr/18/2008


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To add a single new Product to your Inventory follow these steps. Most of the product setup will happen within the 'Setup' screen within Products.

The minimum information you will need to fill out includes:

  • Name
  • Model Number
  • Category - (at least 1)

Pricing and Purchasing Information

  • Base Cost: The cost to you for purchasing your Inventory and is required.
  • Retail Price: The price you charge your customers and is required.
  • Stock Weight: This is not required but is necessary for accurate shipping rate quotes for anyone using our live shipping modules.
  • Stock Volume: This is not required but is necessary for accurate shipping rate quotes for anyone using our live shipping modules.
  • Stock Length: This is not necessary but is helpful for accurate shipping package preferences.
  • Stock Width: This is not necessary but is helpful for accurate shipping package preferences.
  • Stock Height: This is not necessary but is helpful for accurate shipping package preferences.
  • Does not Require Inventory for Sale: If you do not have any physical Inventory any of your Products then checking off this preference will enable you to not need to maintain any Inventory for this item. This is often used for billable hours or services rather than Inventoried Products.
  • Add to Customer's Products Owned Upon Sale: This preference will automatically add a product to the Customers 'Products Owned' section within their client account. Tradepoint will allow you to track the date a Product was sold, any Serial Number and Attributes(Custom Fields) you establish within your Customer's Products Owned section.
  • Assembled: If you use either a kitting or Assembly function then checking off this preference will enable the kitting/assembly function for each Product. Within the Assembly function you will be able to specify the details of the kitted or Assembled item. The difference between a 'kitted' and an 'assembled' item is a kitted item is made up of finished products that are being sold as a package while assembled items are comprised of individual parts to create a finished product. The benefit of this feature is Tradepoint allows you to create each type of product while tracking the accounting information for each process automatically.
  • Item is Drop Shipped: If you sell physical products but drop ship them then this will allow you to handle the sale of these Products without maintaining Inventory amounts and shipping information. The benefit of this feature will also enable automatic generation of POs for Orders for quick ordering from Suppliers.
  • Requires Serial Number Entry on Invoice: For Products that require serial numbers checking off this preference will track each specific part that has a serial number from the time it enters your Inventory to the time of sale and service of that item (if relevant to your business process).

Product Availability

  • Available On: When a new Product is created this date will be filled in automatically for the day the Product was created. The significance of this feature is the Accounting information for this Product will be trackable from the date that is in this box. The date can be adjusted forwards or backwards with the dynamic calendar found in this field.
  • Discontinued On: if you have an item that will no longer be a part of your Inventory setting this date will automatically make this item unavailable for sale and will be taken off of your website(if you are using one of our Ecommerce solutions). This feature is ideal for seasonal or promotional items.

Assigned Accounting and Taxation Rules

  • Company Division: If your company has only one Division or Parent structure then clicking on this field will attach to the respective product. This will track the Accounting information for this Product to the correct Division. If your company has multiple Divisions that sells the same Product then you will need to have an Accounting rule for each Division that sells a given Product.
  • Income Account: This setting will track the sales activity to the Income Account you specify within your Accounting settings. This default account can be overridden by using the drop down menu available in this field.
  • Inventory Account: This setting will track the sales activity to the Inventory Account you specify within your Account settings. This default account can be overridden by using the drop down menu available in this field.
  • COGS Account (Cost of Good Sold Account): This setting will track the sales activity to the Cost of Goods Sold Account within specified within your Accounting settings.
  • Retail Price:
  • Applicable Taxes: Taxes that have been established in your Company Setting will need to be attached to each product within your Inventory for then to track to each sale correctly. Check boxes are available within the drop down menu for each tax that has been setup within your Company Settings.

After the settings on this page have been setup most physically held Products will require a valuation. Add the additional information within multiple valuations(if necessary) to track what would otherwise be hidden costs.

If you have no Valuation information for your Products you can check the valuation window and leave one valuation blank with zeros in the field to allow you to setup further information for your product.


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