Often in business you purchase or sell the same items or services over and over again. The item and product system within MoneyWorks can facilitate this process by allowing you assign descriptions and prices to commonly used items. A further advantage is that you can then track item sales and purchasing trends over time, see what sort of customers purchase what type of products etc.
An item is anything that you buy or sell on a regular basis. It may be something intangible, such as consulting services, or an actual physical product, such as a magazine. In MoneyWorks you can create items and then use them in your normal accounting transactions. You can also use the Enquiry and Analysis features to determine what happened to these items (for example, which customers purchased which products).
Note: This section refers to MoneyWorks Cashbook and MoneyWorks Express only. MoneyWorks Gold has much more extensive product options than are described here, and users should refer to Items, Products and Inventory.
Before you can use the item features of MoneyWorks, you need to define your items. At the least, each item requires a code, and it will probably also have a description and a price. You will also need to indicate which general ledger codes will be used to account for transactions involving the item.
You can also create items “on the fly” as you enter a transaction — see Creating a Record “On the Fly”.
To display the items file1:
- Choose Items from the Show menu or press Ctrl-3/⌘-3
The Items list window will be displayed.
1 In MoneyWorks 5 and earlier, this was referred to as the Products file. ↩