Item Number
The number of the item you're viewing appears in this field. If you're creating a new item, enter a unique number to assign to the new item.
You can use numbers, letters and symbols in the item number.
If you're displaying an existing item record, you can change the item number.
Name
Enter the name of the new item.
If you're displaying an existing item record, you can change the item name.
Inactive Item
Mark this option if you rarely use this item and you don't wish to see it in selection lists. If you mark the item as inactive, existing transactions won't be affected in any way and you'll still be able to enter new transactions for the item if you wish.
When you print the Items List (Summary) or Items List (Detail), you have the option to omit inactive items.
Quantity On Hand
This field displays the current on-hand quantity for the item. (Quantities that you have on order from your vendors or your customers have on order with you do not affect your On Hand quantity.)
The quantity displayed is the total for all locations.
The amounts that appear in this field will change as you record transactions in the Purchases, Sales, Count Inventory and Adjust Inventory windows.
Click the zoom arrow to open the Items Register window where you can see an On Hand running balance for this item.
This field is displayed only if you've marked the I Inventory This Item selection.
Current Value
The total value of the inventory on hand for the item is displayed in this field. The values that appear in this field will change as you record transactions in the Purchases, Sales, Count Inventory and Adjust Inventory windows.
Click the zoom arrow to open the Items Register window where you can see a Current Value running balance for this item.
This field is displayed only if you've marked the I Inventory This Item selection.
Average Cost
This field displays the average cost of the item. Average cost is calculated by dividing the current value of an item's quantities by the number of items on hand.
This field is displayed only if you've marked the I Inventory This Item selection.
Committed
This field displays the quantity of the item entered on sales orders -- items that are ordered but not yet invoiced to customers.
Click the zoom arrow to open the Analyze Inventory window.
This field is displayed only if you've marked the I Inventory This Item selection.
On Order
This field displays the quantities of all items from purchase orders -- items that have been ordered but not yet received from your vendors or items that have been ordered but not yet billed to you by your vendors.
Available
This field displays the quantity "available" for the item. An available quantity is calculated by adding an amount in the On Hand column to the amount in the On Order column and subtracting the amount in the Committed column.
Click the zoom arrow to open the Analyze Inventory window.
This field is displayed only if you've marked the I Inventory This Item selection.
I Buy This Item
Mark this selection if you purchase this item. When this selection is marked, you can record the item on a purchase order.
I Sell This Item
Mark this selection if you sell this item. When this selection is marked, you can record an item on an invoice, price an item in the Set Item Prices window and track an item's sales history.
I Inventory This Item
Mark this selection if this item is an inventoried item -- one whose quantity and value you want to track.
Cost of Sales Account
Enter the account you use for tracking the costs associated with selling inventoried items.
A default account may appear in this field. If so, make sure the default account is the correct account you want to use.
This field appears only if the I Sell This Item and I Inventory This Item selections are marked.
Income Account for Tracking Sales
Enter the account you use for tracking the income you receive from the sale of inventoried items and service items.
A default account may appear in this field. If so, make sure the default account is the correct account you want to use.
This field appears only if the I Sell This Item selection is marked.
Asset Account for Item Inventory
Enter the account you use for tracking the total value of this item.
A default account may appear in this field. If so, make sure the default account is the correct account you want to use.
This field appears only if the I Inventory This Item selection is marked.
Expense Account for Tracking Costs
Enter the account you use for tracking the costs associated with purchasing non-inventoried items.
An example of an item you might use an expense account for is a pencil. Unless your business sells pencils, you probably don't track the exact number of pencils you have in inventory and you may want to assign purchase costs to an expense account such as Office Expenses.
This field appears only if the I Buy This Item selection is marked and the I Inventory This Item isn't marked.
Copy From button
Click this button to copy another item's information to this item record. The Select from List window appears, allowing you to choose the item whose information you want to copy. All information for the item you choose will be copied to the current item record except for the following: item number, item name, vendor item number, auto-build information and history information.
New button
Click this button to begin creating a new item record.
OK button
Click this button to accept the entries you've made and close the window.