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Product groups and their stock ledgers
Create optional product groups so that the stock of raw material, finished goods or packing sits in its own ledger in your books.
Product groups are optional. Without any group, all your stock posts to the company's Stock in Hand and Stock Adjustment ledgers, and nothing is wrong. Use groups only when you want stock split across separate ledgers, for example raw material, finished goods and packing.
Before you start
- Create the ledgers you want each group to use in the Chart of Accounts. You can leave any ledger blank to use the company default.
Steps
- Open Masters > Product Groups.
- Click New Group.
- Type the Group Name. This is required.
- Type a short Code (optional) if you use codes.
- For each ledger box, choose a ledger or leave it at Use company default. Hold the mouse over a box to see what it is used for.
- Keep Active switched on.
- Click Create group.
Put products in a group
- Open Masters > Products and open the product.
- Choose the group in the Product group box. This box appears only once at least one group exists, and only for goods.
- Click Update.
When you create a new product and leave Product group on None — use company stock ledger, the app puts it in your first (oldest) group, if you have any groups.
Edit a group
- Click the pencil icon at the end of the group's row.
- Change the name, code or ledgers.
- Click Save changes.
The table shows each group's Code, Inventory ledger, Stock adjustment ledger and Status.
Fields
| Field | What to enter |
|---|---|
| Inventory (stock) ledger | Debited when stock comes in, credited when it goes out. Blank uses the company's Stock in Hand. |
| Stock adjustment ledger | Takes the other side of a stock movement; in effect your cost of goods sold. Blank uses the company's Stock Adjustment. |
| Consumption / COGS ledger | Optional. Used when raw material is consumed in manufacturing. |
| Default sales ledger | Optional. Suggested when you bill products from this group. |
| Default purchase ledger | Optional. Suggested when you buy products from this group. |
| Active | Switch off to retire a group. An inactive group disappears from this list and from the product form, and cannot be switched back on from this screen. |
Common problems
- Group name is required. — type a Group Name before saving.
- Product group with same name already exists. — choose a different name. Group names must be unique.
- The Product group box is missing on a product — no active group exists yet, or the item is switched to Service.
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