Product Settings

To access general Product Settings, head to the Main Menu -> Admin -> General. Then scroll to the Product Settings section. Once you’ve updated the settings as desired, ensure you click Update at the bottom of the page.

1. Sale GL Code: this is used to track the sale of all products (trackable & non-trackable).
2. Purchase GL Code: this is used to track the purchase of non-trackable (simple) products.
3. Asset GL Code: an asset account of type ‘Inventory’ to track the value of stock on hand. Used for trackable (complex) products. Every time we make a sale we reduce the asset value of stock on hand (Asset GL Code) and increase our cost of goods sold (COGS GL Code).
4. COGS GL Code: An expense account to track the cost of goods sold. Used for trackable (complex) products. Every time we make a sale we reduce the asset value of stock on hand (Asset GL Code) and increase our cost of goods sold (COGS GL Code).
5. Tax Rate (Selling): this is the default tax rate that will be applied on quotes, sales orders and invoices. The default rate can be overridden if desired.
6. Tax Rate (Purchasing): this is the default tax rate that will be applied on requests for quotes and purchase orders. The default rate can be overridden if desired.