Create a product record using the wizard option

There can be lots of information to enter when you set up a new product. The wizard helps you to enter all the important information needed in one place. Let's take a look.

To use the wizrad option:

1. Click Products and services then click Wizard.
2. Enter the Product Details >

   Description	Enter up to 120 characters for the product name or description. This prints on reports and automatically appears when you enter this product code on any product invoices or credit notes, and any sales and purchase orders you generate and print.
   Code*	Enter a unique product code, up to 30 characters.
   Location	Enter the location of the product item, up to 16 characters. For example, a warehouse or bin number.
   Category	You can categorise your products into different product types. You can then analyse these when you run your reports. Use the drop-down list to choose one of the nine hundred and ninety nine category codes available.
   Intrastat Com. Code	This information is only used if your business produces Intrastat returns. The first eight digits appear in your Intrastat declaration. The last two digits are for TARIC purposes when dealing with import duty and can be used in customised reports to show the 10 digits. For further information about commodity codes please contact your relevant tax authority. UK businesses should refer to HM Revenue & Customs. Businesses in the Republic of Ireland should refer to Revenue.
   Weight (kg)	If necessary, enter the weight of your product here. This updates in the product record and used for reporting purposes.
   Supp. Unit Qty	This information is only used if your business produces Intrastat returns. For each Intrastat Commodity Code, either the Net Mass needs to be reported, or both the Net Mass and the Supplementary Unit Quantities need to be reported. For example, when reporting on Christmas trees (06042020), it is required that the number of units (p/st) be reported, as well as the Net Mass.
   Country of Origin	To ensure it appears in your Intrastat Declaration, enter the item's country of origin code here. The country of origin is where the item was manufactured. This may differ from the country it was supplied from, referred to as the country of consignment, which is set on the supplier's record.

   * This information is mandatory.
3. Click Next then enter the Sales Details >

   Sale Price	Enter the net selling price - excluding VAT.
   Sales Nominal Code	This is the sales nominal code you want the value of this item to update when you include this product on a product invoice or credit note. Use the drop-down list to choose an existing nominal code.
   Unit of Sale	If applicable, enter up to eight characters to describe the unit of sale, for example, each, box, or 10-pack.
   EC VAT Description	From the drop-down list, choose a default EC Sales description to use when creating new products. TIP: To review the default descriptions, Settings > Company Preferences > VAT > EC VAT Descriptions.
   Tax Code	Use the drop-down list to choose the VAT rate to apply by default, when you raise a product invoice or credit note, and when you create a sales order or purchase order for this product.
   Department	If applicable, you can assign the product to a department. Enter the number you require, or use the drop-down list to choose one of the nine hundred and ninety nine department codes available.
   Item Type	From the drop-down list, choose the type of product record.

4. Click Next then enter the Purchase Details >

   Supplier A/C	Enter the account code for the supplier of this product.
   Part No.	Enter a product reference number here, using up to 60 characters, for example a supplier's reference.
   Purchase Nominal Code	Sage 50 Accounts Professional only This is used to identify the purchase nominal account, to which the value of this item posts, when you include this product on a purchase order.
   Re-Order Level	Sage 50 Accounts Professional only If you are creating a stock item, when the stock falls below this number an order for more stock is automatically created.
   Re-Order Qty	Sage 50 Accounts Professional only If you are creating a stock item, select the quantity you want to be ordered when you reach the re-order level.
   Cost Price	Enter the cost price for the new product.

5. Click Next then enter the Opening Balance >

   Select an option then, if you have an opening balance to enter, refer to the table below then click Create.

   NOTE: Entering a product opening balance does not affect your nominal accounts. It simply adds the product's quantity and value to the record.

   No, there is no opening balance to enter	If there is no opening balance to enter, select this option.
   Yes, I wish to enter an opening balance	If you have an opening balance to enter, select this option. Reference Enter a reference code for the opening balance. Quantity Enter the amount of stock for the opening balance. Date Enter the date that you want to assign to this product's opening balance transaction. Cost Price Enter the cost price for the opening balance.

   
   

6. Click Create.