5 New Ways to Categories
Major improvements have been made to the Product Categorisation so it simpler and more flexible to your ever changing business requirements.
We have removed the field product category and replaced it with 5 check boxes to define each product, this will then filter where each product will be available throughout the platform.
5 Category Types are explained in detail below:
I SELL this product
Products that I sell, are ones that are available to sell to your businesses customers. Products flagged as this are the ones that will be involved in the Sales Nerves, and appearing on the list of products for customers.Products that I sell, can be flagged as any of the other categories, but can also just be sold. Service type products, such as labour, freight etc. are products that can be sold, but are not manufactured or purchased and placed into stock. They will always have a on-hand quantity of 0 and value of 0.
I BUY this product
Products that I buy, are ones that are obtained by the business purchasing them from another business. Products flagged as this are the ones that will be involved in the Purchasing nerves, and appearing on the list of products for suppliers. Products that are bought may also be sold, capitalised, stocked and manufactured. Sometimes a company may make a product other times they may buy the product from another business.
I CAPITALISE this product
Products that I capitalise are products that store inventory levels for in my accounting package. They have the same properties as Stock Products with the addition of the stock movements being posted against an asset account in the accounting package.This flag will impact on the Inventory Movement Nerve, and the export of Inventory Adjustments for each of the accounting packages.A capitalised product must also be a Stock Product. It may or may not have any of the other attributes types. A capitalised product must also have an asset account assigned to it.
I STOCK this product
Products that I stock, are physical products that need to be accounted for. Service type products are not stock products. These products appear in the stock list for the stock counts, if they are sell products they need to be packed in the Operations Packing Nerve, if they are buy products they need to be received in the goods inwards nerve.All activities relating to stock products are recorded in the inventory movement table, showing quantity and value on hand movements. Products flagged as this can also be flagged with any or all of the other categories.
I MANUFACTURE this product
Products that I manufacture, are ones that are created through some type of production activity. Products flagged as this are the ones that will be involved in the Daily production nerve. Products that are manufactured may also be bought, sold, capitalised and stocked.
If you have any questions about this update we look forward to your feedback or contact us to find out more about the recent Product Categories Updates.