HOW TO MAINTAIN INVENTORY ITEMS ON PEACHTREE ACCOUNTING SOFTWARE

Inventory items are recorded in separate tab which is known as inventory item tab .when we buy or sell any inventory we record it in the inventory item and give details of items which are shown below in each step:

Step no 1

To maintain inventory item record, click maintains Menu on Peachtree accounting software and select “maintain inventory item”.

Step no 2

When we open the inventory item the new window is shown like this

This window includes three parts in it which are as follows under:

1-Menu bar

·        Close

·        Save

·        Delete

·        New

·        Note

·        Help

2-Header field

·        Item Id

Enter a unique ID for every new item.

·        Description 

A short description of this item should be written in this box.

·        Item class

This identifies the item class of this item. This tells what type of inventory you concern with.

3-Tabs

·        General

·        Custom fields

·        History

Step no 3

This window opens the important information which must be written are

·        Item ID

·        Description,

·        Item class

·        GL sales account

·        GL inventory account

·        GL cost of goods account

In this section we also write last unit cost and measure units.

Step no 4

In general tab there is the option of item class on header field

Stock item

This item class is used for the inventory items which are associated for quantities, vendors and cost. If we select the item class it can’t change.

Assembly

This type of item class is used for finished items .Once a transaction uses an assembly, it cannot be changed.

Labor

This type of item class is used for labor that can apply GL salary and wages account and we enter cost for services.

Step no 5

Custom fields:

Where we write the following information:

·        Alternate vendor

·        Substitution

·        Special note

Step no 6

History

To record the history of this item select history tab. Here you select period history, # Units sold, Sales, # Units received, Cost.