Add products and services
A new product or service ready to pick on orders, bills and invoices, with the right accounts.
Before you start
- Access to manage products and inventory.
- A chart of accounts that is set up, for the purchase, sales and inventory accounts.
Steps
Step 1: Open Products
In the sidebar, choose Master Data, then Products. The Products & inventory page opens with the Products and Services tabs.
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The Products & inventory page in Finday with the Products and Services tabs and the New product button.
Step 2: Click New product and fill in the basics
Fill in Display name and Base UOM. Product code can stay blank. Fill in Default buy price and Default sell price so they fill in on transactions.
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The Add product form with Product code, Display name, Base UOM and the default prices.
Step 3: Set the usage and accounts
Under Usage & account defaults, choose the Type, then Buy only, Sell only or Buy & sell. Tick Track inventory for stock items. Check the purchase, sales and inventory accounts.
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The Usage & account defaults section with Buy & sell, Track inventory and the default accounts.
Step 4: Add packaging if needed
Under UOM preferences, enable custom packaging sizes for units such as box or carton. Fill in the Custom UOM name and its Multiplier to the base unit.
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The UOM preferences section with a custom packaging unit and its multiplier.
Step 5: Click Save product
Finday shows Product saved and the product appears in the list, ready to pick in transactions.
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The product list with the newly saved product.
When you are done
- If Product code is left blank, Finday assigns one automatically, such as PRD-0001.
- Products with Track inventory count stock per warehouse and use their inventory account.
- A product category fills any empty account with the category's default account.
Common problems
Track inventory cannot be ticked
It is only for the Product type, not Service. Ticking it also sets the usage to Buy & sell.
Bought per box but sold per piece
Choose piece as the Base UOM, then enable custom packaging sizes and add box with a Multiplier equal to the pieces per box.
Where is the product's VAT?
The product form has no VAT field. VAT is chosen per line on the order, bill or invoice.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.