User Guide

Adding Inventory Records
48 Simply Accounting
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ACCPAC INTERNATIONAL, INC. Confidential
Pricing tab
Regular Selling Price.
Enter the price at which you sell this
item to regular customers.
Preferred Selling Price.
Enter the price at which you sell this
item to your preferred customers.
Linked tab
You can add the following accounts “on the fly” if they do
not already exist.
Asset.
This field appears if you chose Inventory in the Type
field. From the list of accounts, select the asset account you want
to associate with this inventory item.
Revenue.
Select the revenue account you want to associate
with this inventory item, service or activity.
Expense.
This field appears if you chose Service in the Type
field. Select the expense account you want to associate with this
service.
Cost of Goods Sold
(C.O.G.S.)
.
This field appears if you chose
Inventory in the Type field. Select the Cost Of Goods Sold
expense account you want to associate with this inventory item.
Variance.
This field appears if you chose Inventory in the Type
field. The account records any difference in price caused by
negative inventory levels. Select the variance account you want
to associate with this inventory item. It can be the same account
as the C.O.G.S. account.
Time And Billing tab
(Pro version only)
The Time And Billing tab appears only in Simply
Accounting Pro. You can edit this tab only for a Time and
Billing activity. After you complete this tab and create the
item record, you can select the item when using the Time
Slips window.
Unit’s Relationship to Time.
Enter the following information:
Unit of Measure.
Enter the unit of measure by which to
measure this service activity. You can choose Hours or