Select the General tab of the Maintain Inventory Items window to enter basic information about the inventory item such as item ID, name, description, account numbers, sales price, quantity on hand, and beginning balances, among other things.
This value represents the Universal Price Code/Stock Keeping Unit of an item, which is encoded in the item's barcode. UPC numbers, used for inventory purposes, are regulated by the Uniform Code Council (UCC). For more information, visit www.uc-council.org.
Select either "for Sales" or "for Purchases" from the drop-down list to specify for what the description you enter in the Description field will be used.
- Select for Sales to enter the item description that will appear in the Quotes, Sales Orders, Sales/Invoicing, and Receive Money windows. This description will also print on quotes, sales orders, and sales invoices.
- Select for Purchases to enter the item description that will appear in the Purchase Orders, Purchases, and Payments windows. It could reference the vendor's catalog number for the item. This description will also print on purchase orders and purchase invoices.
Each description can be up to 160 alphanumeric characters long.
You can use this to group like inventory items together. For example, if you have a large warehouse, you may want to enter Electric for electrical items and Plumbing for plumbing supplies. You can use this to filter most Inventory reports.
The description that you enter here will appear in the item Description field when you select an item ID in any of the following windows: Quotes, Sales Orders, Sales/Invoicing, and Receive Money. You can enter up to 160 characters to describe this item.
You can enter up to 10 characters to describe the location (Aisle1, Aisle2, Bin4, and so on). This appears on inventory reports and lists.
The description that you enter here will appear in the item Description field when you select an item ID in any of the following windows: Purchase Orders,Purchases, and Payments windows. You can enter up to 160 characters to describe this item. However, if you leave this field blank, then the aforementioned windows will default to the Description for Sales when you select an item ID.
This defines one unit of measure for the item. For example, a unit of measure can be each, units, case, barrel, and so on. This prints on the Physical Inventory List report, the Item Price List report, Inventory Stock Status report, and the Inventory Valuation report.
Item sales price levels are set up when you select the price level button on the General tab of the Maintain Inventory Items window. Enter the amount to appear on your customer quotes, sales orders, and sales invoices. Learn more
This represents the item's weight.
Note: All item weights entered into Sage 50 must be in the same unit of measure (for example, grams, ounces, pounds) in order for weight totals to be correct on reports and forms.
Enter a Quantity Discount if you'd like to apply one to this inventory item. To display a list of existing Quantity Discounts, type ? in this field, or select the Lookup button.
This indicates the latest unit cost amount associated with this item. Once a purchase, payment, or adjustment (including beginning balances) is made for an item, the last unit cost is updated.
Stock Items: You can enter a cost amount for new stock items. However, once a purchase, payment, or adjustment is made for the item, the field becomes disabled and is only updated by Sage 50. The amount is calculated based on the last item purchase price or adjustment cost of the item no matter what the costing method is. This field is not available for assembly items. Their cost is computed from the various components.
Non-Stock, Service, and Labor Items: You can enter an estimated cost or change the displayed unit here. When you sell one of these item types, a cost entry is generated based on the cost you enter. This can be very handy if you are trying to generate a direct labor cost based on service or labor that is performed. If direct labor is not important, then set this at 0.00.
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item on hand, minus quantities remaining to ship on open sales orders and accepted proposals (Sage 50 Premium Accounting and higher), plus quantities appearing on purchase orders (if you have chosen to include these quantities when Sage 50 calculates quantity available; you make this choice on the Ordering tab of Inventory Item Defaults).
Sage 50 has four different types of cost methods for inventory:
- Average Cost
- LIFO (last in, first out)
- FIFO (first in, first out)
- Specific Unit(Sage 50 Premium Accounting and higher)
Generally, all inventory items need to use the same costing method. Check with your accountant about the implications of doing this before you make any changes.
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item remaining to ship on open sales orders and open, accepted proposals (Sage 50 Premium Accounting and higher).
Enter or select the income account you want Sage 50 to credit when you sell the item. All classes of inventory except for description-only items require a sales account.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item appearing on open purchase orders.
For stock items only, enter the account that the inventory for this item is charged to. This account is used as the default account for entering purchases. Generally, the account gets debited when you purchase more of the item and credited when you sell the item.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
Enter the number at which you will typically reorder the item. This is used only for stock and assembly items. For example, you can use this when you run the Inventory Reorder Worksheet to filter the report by those items that are below minimum quantity in the Net Quantity field. This helps determine how much of which items you need to reorder.
This account is used for service, non-stock, and labor items. When you sell a non-stock, labor, or service item, you generally credit a salary and wage expense account.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
This is the amount that you normally order of the item. It is used only for stock and assembly items and appears on the Inventory Stock Status Report and the Inventory Reorder Worksheet.
For stock items and assembly items, enter the account that gets debited for the item when sold. Sage 50 Accounting allows you to use FIFO, LIFO, or weighted-average methods of costing; costing occurs as of the transaction date for the sale. Sage 50 Premium Accounting and Sage 50 Quantum Accounting allow you to create serialized inventory items with specific costing.
When you purchase non-stock, service, or labor items, this is the default expense account used. The account will be debited for the amount in the Last Cost field for the item in Maintain Inventory Items.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
Enter your preferred vendor for this item. To display a list of existing vendors, type ? in this field, or select the Lookup button. You can filter items by their preferred vendor on the Inventory Reorder Worksheet.
These are the inventory item tax types you set up in Inventory Item Defaults. To display a list of existing item tax types, type ? in this field, or select the Lookup button.
Use the drop-down list to select an employee who will act as buyer for this inventory item.
The beginning balance for inventory items includes the quantity, unit cost, and total cost of the inventory. You only use this when you first enter beginning balances. Learn more
Select either "for Sales" or "for Purchases" from the drop-down list to specify for what the description you enter in the Description field will be used.
- Select for Sales to enter the item description that will appear in the Quotes, Sales Orders, Sales/Invoicing, and Receive Money windows. This description will also print on quotes, sales orders, and sales invoices.
- Select for Purchases to enter the item description that will appear in the Purchase Orders, Purchases, and Payments windows. It could reference the vendor's catalog number for the item. This description will also print on purchase orders and purchase invoices.
Each description can be up to 160 alphanumeric characters long.
The description that you enter here will appear in the item Description field when you select an item ID in any of the following windows: Purchase Orders,Purchases, and Payments windows. You can enter up to 160 characters to describe this item. However, if you leave this field blank, then the aforementioned windows will default to the Description for Sales when you select an item ID.
The description that you enter here will appear in the item Description field when you select an item ID in any of the following windows: Quotes, Sales Orders, Sales/Invoicing, and Receive Money. You can enter up to 160 characters to describe this item.
Item sales price levels are set up when you select the price level button on the General tab of the Maintain Inventory Items window. Enter the amount to appear on your customer quotes, sales orders, and sales invoices. Learn more
Enter or select the income account you want Sage 50 to credit when you sell the item. All classes of inventory except for description-only items require a sales account.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
These are the inventory item tax types you set up in Inventory Item Defaults. To display a list of existing item tax types, type ? in this field, or select the Lookup button.
For stock items only, enter the account that the inventory for this item is charged to. This account is used as the default account for entering purchases. Generally, the account gets debited when you purchase more of the item and credited when you sell the item.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
This account is used for service, non-stock, and labor items. When you sell a non-stock, labor, or service item, you generally credit a salary and wage expense account.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
This indicates the latest unit cost amount associated with this item. Once a purchase, payment, or adjustment (including beginning balances) is made for an item, the last unit cost is updated.
Stock Items: You can enter a cost amount for new stock items. However, once a purchase, payment, or adjustment is made for the item, the field becomes disabled and is only updated by Sage 50. The amount is calculated based on the last item purchase price or adjustment cost of the item no matter what the costing method is. This field is not available for assembly items. Their cost is computed from the various components.
Non-Stock, Service, and Labor Items: You can enter an estimated cost or change the displayed unit here. When you sell one of these item types, a cost entry is generated based on the cost you enter. This can be very handy if you are trying to generate a direct labor cost based on service or labor that is performed. If direct labor is not important, then set this at 0.00.
For stock items and assembly items, enter the account that gets debited for the item when sold. Sage 50 Accounting allows you to use FIFO, LIFO, or weighted-average methods of costing; costing occurs as of the transaction date for the sale. Sage 50 Premium Accounting and Sage 50 Quantum Accounting allow you to create serialized inventory items with specific costing.
When you purchase non-stock, service, or labor items, this is the default expense account used. The account will be debited for the amount in the Last Cost field for the item in Maintain Inventory Items.
To display a list of existing accounts, type ? in this field, or select the Lookup button. To add a new account, type + or double-click the field, which displays the Maintain Chart of Accounts window.
Sage 50 has four different types of cost methods for inventory:
- Average Cost
- LIFO (last in, first out)
- FIFO (first in, first out)
- Specific Unit(Sage 50 Premium Accounting and higher)
Generally, all inventory items need to use the same costing method. Check with your accountant about the implications of doing this before you make any changes.
Enter the number at which you will typically reorder the item. This is used only for stock and assembly items. For example, you can use this when you run the Inventory Reorder Worksheet to filter the report by those items that are below minimum quantity in the Net Quantity field. This helps determine how much of which items you need to reorder.
This value represents the Universal Price Code/Stock Keeping Unit of an item, which is encoded in the item's barcode. UPC numbers, used for inventory purposes, are regulated by the Uniform Code Council (UCC). For more information, visit www.uc-council.org.
This is the amount that you normally order of the item. It is used only for stock and assembly items and appears on the Inventory Stock Status Report and the Inventory Reorder Worksheet.
You can use this to group like inventory items together. For example, if you have a large warehouse, you may want to enter Electric for electrical items and Plumbing for plumbing supplies. You can use this to filter most Inventory reports.
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item remaining to ship on open sales orders and open, accepted proposals (Sage 50 Premium Accounting and higher).
You can enter up to 10 characters to describe the location (Aisle1, Aisle2, Bin4, and so on). This appears on inventory reports and lists.
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item appearing on open purchase orders.
This defines one unit of measure for the item. For example, a unit of measure can be each, units, case, barrel, and so on. This prints on the Physical Inventory List report, the Item Price List report, Inventory Stock Status report, and the Inventory Valuation report.
Enter your preferred vendor for this item. To display a list of existing vendors, type ? in this field, or select the Lookup button. You can filter items by their preferred vendor on the Inventory Reorder Worksheet.
This represents the item's weight.
Note: All item weights entered into Sage 50 must be in the same unit of measure (for example, grams, ounces, pounds) in order for weight totals to be correct on reports and forms.
Use the drop-down list to select an employee who will act as buyer for this inventory item.
The beginning balance for inventory items includes the quantity, unit cost, and total cost of the inventory. You only use this when you first enter beginning balances. Learn more
This is a view-only field used for stock, substock, and assembly items. It tracks the number of units of an item on hand, minus quantities remaining to ship on open sales orders and accepted proposals (Sage 50 Premium Accounting and higher), plus quantities appearing on purchase orders (if you have chosen to include these quantities when Sage 50 calculates quantity available; you make this choice on the Ordering tab of Inventory Item Defaults).
You can enter a part number for an inventory item.