Product and service groups allow us to set shared settings for our services and inventory items. This feature is particularly useful for managing lots of products and services because it allows you to set settings globally and not on a product-by-product basis.
Adding product groups
To add a product group,
Add a product group
- In the main menu, go to Masters, then click on Product Groups.
- In the Products group list, click on the (+) Button.
- Type the Name, choose the Type and Unit of measurement.
- Set if it can be Purchased and Sold.
- Set Active
In the Type field, we can choose whether the group is for Inventory Items, Bundles, Services or non-inventory item. Each of these options will enable additional options.
The Can be purchased option, sets if you purchase the item and if the item will be available for purchase in the purchasing documents.
The Can be sold option, sets if you sell the item and if the item will be available for sale on sales documents.
Inventory Tab
To set inventory items information,
- Go the Inventory Tab,
- Choose the Item Type, Valuation and set any Attributes.
- Optionally, set if these Items are managed by Batch or Serial Numbers and set the Control Method and if the items are perishables.
[3] The Managed By field allows you to set if these items are managed by batch or serial numbers.
[3] The Control Method, allows you to set how Batch or Serial Number should be managed. There are 2 options, On Every Transactions and Only on Release.
The On Every Transactions control method is used when we need to keep track of every step or inventory transaction made with these items. This means that from purchase to sale and any step in between, Cashflow will prompt for a batch or serial number for each of these items.
The Only on Release control method is used when we only need to track batch o serial numbers on inventory release. This is useful for businesses that manage a great deal of inventory and need to minimize the additional overhead of tracking each step or transaction.
The Perishable option sets if these items expire or have a best by date.
Accounting Tab
- Click on to the Accounting Tab
- Set the ledger accounts for the journal entries generated by the transaction made with this item.
Important: If you’re not a bookkeeper or accountant or don’t know which ledger accounts to choose, don’t worry; Cashflow will set default ones for you.
Once we complete all relevant fields, we click on Save.
Updating product groups
To update a product group,
Update product group
- In the Products group list,
- Click on the Action menu and click on the Edit option.
- Update any necessary group information.
- Click on Save.
Deleting product groups
To delete a product group,
Deleting a product group
- In the Products group list,
- Click on the Action menu and click on the Delete option.
- A confirmation dialog box will appear,
- To complete, click Continue.
If can’t see the Delete option, this is because Cashflow only allows you to delete groups that do not have items in it. To delete a group containing items, move these items to another group first and then try deleting the group.
