Add a New Product

Zumzum Financials Knowledge Base

    Add a New Product

    1. The first step is to navigate to the Product tab.
    2. In the top right click New to add a product.
    3. The first thing to enter is the Product Name. This is simply the retail name of the item.
    4. The next step would be to choose the Product Family, the product family is a group of related products usually manufactured by a single company.
    5. The next step is to create a Product Code, the product code is a unique identifier for the product, it is also used to quickly reference your product in other records so make it short and easy to remember.
    6. In the Cost Price field, enter the cost of the product.
    7. Choose the Quantity Unit of Measure, choose how many items or services are included in the product. You can add your own Quantity Unit of Measures.
    8. Now choose the default Currency for this product, in the Standard Price related list you can assign a default price in the different currencies
    9. In the Product Description information on what the item does, or what is included in the service
    10. Ensure you mark the product as “Active” and add to a price book
    11. Set Product Default values for
      • Supplier
      • Default Sales Nominal Account
      • Default Purchase Nominal Account
      • Default Tax Code for Sales
      • Default Tax Code for Purhcasing
    12. Select  “Stock Product” you wish  to manage inventory against this product.
    13. Select “Serialised” if you wish to track individual units of inventory with a serial number
    14. Finally, select Save once you are done.