A/R Items Screen

Use the Item Information tab on the Items screen to enter information about an item, such as usage guidelines or special handling instructions. The information can be displayed during invoice entry, and printed on invoices.

Tip: You press the Enter key to start a new line of comments. If you want comments on a single line, just keep typing, and the text will scroll within the comments screen.

You can select the Use Item Comment As Default option on the A/R Options screen to display comments automatically from an item record when you are entering invoices that use the item number.

Use for VAT (value-added tax) reporting, or for your own reference.

Enter a description (name) for the item.

Accounts Receivable lets you select a discountable status for an item code.

When you use the item code for a detail on the Invoice Entry screen, the detail line uses the same Discountable option that you selected for the item.

Note: If you change the distribution code for the detail line, the discountable status may also change.

Enter the distribution code that identifies the revenue, inventory, and cost of goods sold accounts to which you distribute transaction amounts posted for the item.

If you want to use accounts that are not used in an existing distribution code, leave the Distribution Code field blank, and then enter the account numbers individually in the Revenue Account, Inventory Account, and COGS Account fields.

You use these fields to enter the revenue, inventory, and cost of goods sold accounts to update when you post a transaction for an item, if you do not want to use a distribution code to identify the General Ledger accounts.

Select this option if you do not want to enter any further transactions that use the item number.

You must delete any unposted invoice details that use an inactive item number, or assign another item number to the details.

You can change your selection any time.

Enter a code to identify the item, using up to sixteen characters.

This information field displays the date of the last change made to the item record. You do not make an entry in this field.

The alternate tax base is the amount on which to calculate taxes for a tax authority that levies tax on an alternate amount, rather than on a selling price or standard cost.

If the tax authority does not use alternate amounts for the tax base, Accounts Receivable ignores this field.

If you use multicurrency accounting, enter the currency codes for the currencies in which you sell the item, then enter pricing information for each currency code. You create one line of prices for each currency and each unit of measure in which you sell.

Example: If you sell goods by the pound and by the kilo in each of two currencies, add four lines, each of which specifies the cost and selling price for one currency and one unit of measure.

Remember to include the functional currency, if applicable, and to enter cost and price amounts in the currency identified by the code.

Enter the cost of the item per the unit of measure and in the currency you specified for this line.

Ignore this field if you are entering a non-inventory item. If you omit the item cost, Accounts Receivable posts only to the revenue account, and not to inventory and cost of goods sold.

Enter the price of the item per the unit of measure and in the currency you specified for this line.

Enter the name of the unit in which you sell the item, such as each, dozen, or box.

You create one line of costs and prices for each unit of measure and each currency in which you sell.

Example: If you sell goods by the pound and by the kilo in each of two currencies, add four lines, each of which specifies the cost and selling price for one unit of measure in one currency.

If adding historical figures, enter the total amount of costs of goods sold for the item during the displayed period.

Do not include amounts that will be posted to the item when you enter historical and year-to-date Accounts Receivable transactions.

Amounts are in the functional currency.

Accounts Receivable displays the date of the last sale posted for this item. You cannot enter this date during setup, except by posting transactions for the item. The figure is entered by Accounts Receivable only when you post a document that uses the item number.

Accounts Receivable automatically calculates the gross margin for the unit of measure, year, and period by subtracting the cost of goods sold from the total sales.

Amounts are in the functional currency.

Accounts Receivable automatically enters and updates the quantity sold of the item in the selected unit of measure, year, and period from posted transactions.

You cannot create this figure yourself simply by entering item statistics for prior periods during setup.

If adding historical figures, enter the total amount of returns of the item during the displayed period, and enter the number of invoices for which the item was returned in the period.

Do not include returns that will be posted to the item when you enter historical and year-to-date Accounts Receivable transactions.

Amounts are in the functional currency.

If adding historical figures, enter the total amount of sales of the item during the displayed period, and enter the number of invoices on which the item was sold in the period.

Do not include sales that will be posted to the item when you enter historical and year-to-date Accounts Receivable transactions.

Amounts are in the functional currency.

Statistics are kept for each unit of measure in which you sell the item. (Item statistics do not convert one unit of measure to another.)

Enter the unit of measure for which you want statistics.

Enter or select the fiscal year for which you want to view or enter statistics (if you are just setting up your system). Enter or select the fiscal period for which you want to view or enter statistics.

For each period, you can enter the amount and number of each item’s sales, returns, and cost of goods sold.

Enter the codes that identify each government body that levies tax on sales of the item, or choose the codes from the Finder. For example, if the item was eligible for federal and county taxes, you would add two lines—one for each authority.

You must select a tax authority that is defined in the Tax Services screens in Common Services.

Enter the code that identifies the tax status for the item in the associated jurisdiction, or choose the code from the Finder. Tax classes are defined in Tax Services, which are a part of Common Services.

The tax class you select must be assigned to the corresponding tax authority in Tax Services.

Specify whether the selling price includes the tax.