Friday, 19 April 2013

Maintain inventory items


We open the Peachtree accounting software. First we go for maintain and select the inventory items.

The inventory items is open
In the maintain chart of account we can full fill following information are;
Item ID: we can write the id of the inventory.
Description; we can write name of the product.
Item class; the can select the items which can relate with such class. Like (stock item, service, labor, assembly, etc)
Inactive; we have no longer planned to used the inventory. We mark the inactive.
Subject to commission: when item is sold though sale invoice and it included in account receivable.
In general tab;
We fill the price, tax type and last unit cost. After they fill we select the which cost method we used LIFO, FIFO and etc. select the sale account and inventory account and cost of sale after the full fill the all requirement we write the preferred vendor id and buyer id.






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