Creating a New Inventory Item

Creating a New Inventory Item

From the Inventory Section Select Inventory Click on New
1. In the item name field put the manufacturer part number  (Name goes to Quickbooks, Man. Part Number does not)
2. In Description, type the description from one of the three resources below.  Sources below are listed in prioritized order.
a. Price Book sales force is currently using
b. Manufacturer’s website
c. Sales person’s description
3. Our Cost
4. Retail Price (either the manufacturer’s list price or 100% mark up from our cost)
5. Manufacturer part number again (if the item has a legacy part number we can place that here)
6. Refer to “Use Tax Paid” list. If the vendor is a Use Tax Paid vendor, choose “Use Tax Paid” as the class, otherwise leave blank.
7. Shelf Field: Shelf number or location of where New Part will be stored in warehouse
8. ItemNum: Assign an FDC Number by searching and sorting all items in SME.  WHen you find the most recent number, you may increase it by one to come up with new part number.
9. Item Group & Labor Hours (see chart)
10. Select the ordering information Tab
11. Select the Vendor
12. Click on Link Options tab
13. Check the Export to Quickbooks Box
14. Click on the Inventory Item Box (if applicable, see Kelly for details)
15. Cost of Goods Account: If class on the item was “Use Tax Paid”, choose “Materials & Supplies”, otherwise choose “Merchandise Purchases”
16. Inventory Asset Account: Choose “Inventory Asset”
17. Income Account: if class on item was “Use Tax Paid”, choose “Sales – Misc.”, otherwise choose “Sales – Merchandise”