Adding new products and displaying lists of products for maintenance
You can add a new product using the Add Product menu. Alternatively, you can also go to the Product List page under Inventory | Products to edit and/or view a list of existing products for maintenance. Select Inventory | Products | Add Product.
Tips on naming your products
In Unleashed, there is no rule on how you should name your Product. The following is a list of tips to help you have a consistent and organized approach when naming Products:
- Ensure that each product code is unique. No products should share the same code.
- Ensure that each product has a meaningful code, this could be something related to the Product itself, a mix of alpha-numeric is good, and you can always use other basic symbols such as - or _. Try to avoid using '0'or '00' at the beginning of your Product Codes.
- If you have a series of similar products, think about using variants of the same Product Code.
How to create a new product
If you want to add multiple products, it is often quicker and easier to import using the CSV template.
- Go to Inventory | Products | Add Product.
- You can sort the Products by column name, by clicking the column name at the top.
When creating a new product; start with the Details tab data.
Product Code & Description: This is the product code and description of the product. The Product Code has to be unique per product.
Notes: If you have any notes that pertain to this product you can enter them here.
Barcode: You can enter a bar code number in this field. The bar code will not be printed anywhere this is solely so you can record this number.
For more information on using Barcode scanners, see Using Barcode scanners in Unleashed video tutorial.
Unit Of Measure: This is the unit that you will be measuring this product in such as Each, Kg, Cm etc. You can set these up under Settings | Unit of Measure.
Product Group: This is the product group that the product belongs to. You can report on these so it is important to group your products into relevant groups.
If you are connected to your Accounting Provider, the following fields are displayed:
Cost of Goods Sold Accounts: A drop-down menu that appears if you are connected to your accounting provider. Using this field, you can select what cost of sales account should be used in any sales journals for that product. A benefit of this is that it enables you to view a much more defined breakdown of costs in your accounting system. To initiate this option, make sure you are connected to your accounting provider and select the account from the drop-down list available, don't forget to save your settings for that specified product.
Sales Account: If you want to track Sales by Product then you can set the Sales Account for this product to your desired account. This will override the customer and default sales account.
Never Diminishing: If this product will never have a stock on hand and you still wish to charge for it e.g. Freight, Labor etc. you can check this attribute. For more information, see Never diminishing products.
Assembled & Component Product: These Attributes will only appear if you have the Production module enabled. You will need to check the relevant Attributes are switched on depending on what type of product this is. The Can Auto-Assemble function can be accessed via the Add Bill of Materials page.
- Assembled Product - Products that can be assembled out of many other products.
- Component Product - Products that are used in BOMs to assemble other products.
Obsolete: When this attribute is switched on, it marks the product as 'Obsolete'. The 'Obsolete' product is not displayed in search results.
Serialized: When Serial Number Tracking attribute is switched on, you can tag each product as 'Serialized', and attach serial numbers to a product (as many as you like thereafter). If the Never Diminishing or Batch Tracked options are enabled, then the Serialized option is disabled. If a new or existing product is tagged as 'Serialized', then the quantity and pack size of the product must be in an absolute quantity (whole number value). It does not recognize decimal values (i.e., 1.4, 5.7 etc.).
The ability to use the Serial Number Tracking feature is only available on specified plans. See Unleashed pricing for more information.
Batch Tracked: When Batch Number Tracking attribute is switched on, you can tag each product as 'Batch Tracked', and attach batch numbers to a product (and as many as you like thereafter). When you enable the Batch Tracking feature on a product, the Serialized and Never Diminishing options are disabled.
You cannot switch off Batch Tracking if you have stock on hand in Unleashed.
If a new or existing product is tagged as 'Batch Tracked', then the quantity and pack size of the product must be a whole number. It does not recognize decimal values, i.e., 1.4, 5.7 etc.
The ability to use the Batch Number Tracking feature is only available on specified plans. See Unleashed pricing for more information.
Pack Size: The pack size should only be used if you buy and sell at a set quantity. It will limit you to only purchasing in multiples of that quantity i.e. packs of 10, 100 etc.
Weight/Height/Width/Depth: If you have this information, you can enter it here, to be used when working out the dimensions and weight of an order. The weight and other measurements can be displayed in either an imperial or metric standard, you can change this in your Company Settings.
Cubic Total: Works out the total volume of the product (includes width, height and depth) of the product.
The Inventory tab allows you to set min/max alert levels and bin locations per warehouse or globally.
- Min Stock Alert Level - These are the minimum stock levels that you would like to set. By default, the value is empty. The screenshot demonstrates this set to Per Warehouse, but you can also select it at a global level. When set at a Global Level, you only have one minimum stock level for all warehouses.
- Max Stock Alert Level - These are the maximum stock levels that you would like to set. By default, the value is empty. The screenshot demonstrates this set to Per Warehouse, but you can also select it at a global level. When set at a Global Level, you only have one maximum stock level for all warehouses.
- Bin Location - Displays the bin location for the specified product, either at a global level or per warehouse.
The Bin Location field will also print on packing slips, stock-takes etc
Min & Max Stock Alert Level: These are the minimum and maximum stock levels that you would like to set. They will be set to 0 by default.
Default Purchase Price: The default purchase price is the price that will be defaulted when you enter this product on a purchase order. You can change override this at time of entry.
Purchase Tax Rate: This should only be set if you want this to override every other tax rate. If you leave it blank then it will use the supplier's or default tax rate instead. Tax rates for the Product will always override the Supplier/Customer tax rate.
Supplier Code & Name: This is the supplier of the product that you purchase off.
Supplier Product Code: This is the supplier's product code if it is different to your code. This also prints on the purchase order as well.
Supplier Product Description: This is the Supplier's product description. This will also appear on your purchase order.
Purchase Price: The is the Supplier's Purchase Price and can be selected to override the product purchase price.
See Supplier Price Books for more information on getting the ability to use multiple Suppliers and descriptions of the action cog.
Default Sell Price: The default sell price is what is used when the product is entered on an order. This can be overridden as well and will only be used if the customer does not belong to a price tier.
Sales Tax Rate: This should only be set if you want this to override every other tax rate. If you leave it blank then it will use the customer's or default tax rate instead.
If you need to create an additional sales account, then you need to create the account in your accounting provider chart of accounts and then re-connect.
Average Land Price: The average landed price is a calculated field (hence why it is disabled). It is the result of stock value divided by stock on hand.
Last Cost: The Last Cost field is also a calculated field and will be the cost on the latest purchase order.
Default Purchase Price: The default purchase price is the price that will be defaulted when you enter this product on a purchase order. You can change this still on the Purchase tab.
The following mark-up related functions allow you to set mark-ups and update at product level. When your settings are complete, you must press Update Price for it to be updated.
Sell Price Tier 1-10: A customer can belong to any price tier so depending on who the customer is the prices in these tiers will be used. If it is set to 0 then the default will be used instead.
The following are special features that are only available for users on specified plans. Check out the Unleashed website for more information.
Margin%: Displays a calculated percentage number based between the Sell Price and Average Landed Cost. The formula to work this out is as follows;
Sell price - Average Landed Costs / Sell Price x 100.
If there is no Average Landed Cost then the last cost is used in the formula instead.
Mark-up From: Base cost to calculate your mark-up on your selected base cost.
Your options are;
- None - No value
- Average Land Price
- Last Cost
- Default Purchase Price
- Default Sell Price
Mark-up%: Is in read-only format. Enter the percentage number you want the mark-up to be.
Markup Price: Is in read-only format. Numeric number based on your mark up settings.
Apply All Markup Price: Will update all of the entire listed mark-ups on screen.
Apply Markup Price: Will update the price of the specified mark-up at line level.
The Transactions tab displays all transactions related to the specified product. You can see the running total of the product on the right-hand side.
Grid Column descriptions
The following highlights some key grid columns.
Value: The value column provides information about the value of the transaction. This is the cost of the transaction, which is the change in stock value that the transaction represents.
For example, if assets have been sold from a business, then we'd see a negative value, i.e. -100.00. If assets have been credited to a business, then we'd see a positive value, i.e. 100.00.
The value is calculated on the average landed cost. For example, a chocolate bar has an average landed cost of 1.00, a sales goes through for a number of 5 at 2.00 each, we then see in the report -5.00
Running total: Displays the running total of the product within a specified warehouse that the transaction is for.
For example, if you have warehouse A with 100 jelly beans, and warehouse B with 0 jelly beans, and you create a purchase order for 10 jelly beans in warehouse A. Then your running total for warehouse A is 110. This is the same regardless of transaction type (purchase order, sales order etc).
Accepted and cancelled quotes are not shown in the transaction tab as they do not impact stock on hand. Use Quote Enquiry to view accepted and cancelled quotes.
The References tab is available for the following pages. It displays open transactions where the product is referenced and therefore cannot be deleted.
- Stock Take
- Stock Adjustments
- Bill of Materials
Average Land Cost: This field is disabled because it is an auto-calculated field, calculated as stock value divided by stock on hand.
Last Cost: Auto-calculated field and is the cost from the latest purchase order.
The Costs tab displays all costs related to the specified product. It is a costing analysis report that shows how each transaction (purchase order, supplier return, credit, and stock revaluation), has impacted the average landed cost over time. If there is 0 stock on hand for a product, there is no average cost. If you have had stock previously for a product, but now have 0 stock on hand, the average cost will start from the next purchase order.
The Attachments tab enables you to attach multiple files of different formats to products. You can choose a file locally and upload it into your Unleashed account by dragging and dropping on the Attachment tab. When the attachment is uploaded, you can then view it whenever there is an Attachment column and icon. These can be currently viewed in the following screens:
- View Products
- Sales Order
- Purchase Order Entry
- Bill of Materials (BOM)