Accounting Seed uses the salesforce product object as the product master. All the fields and objects needed to manage products are either on the product object itself or can be seen as a related list on the product.
Products in Accounting Seed Financial Suite can be used to sell productized services or intellectual property products. The use of products in basic Accounting Seed Financial Suite will allow you to recognize revenue in an expedited and convenient way as well as account for sales of your products in the general ledger.
The GL account used for revenue as well as the general ledger account variables can be sent on the salesforce product, when creating a billing from the salesforce opportunity and opportunity products. Below is a list of the GL accounting fields on the product and how they work:
Revenue GL Account - The revenue GL account for the product will automatically populate on the billing line if it is set on the salesforce product.
General Ledger Account Variables 1-4 - If populated on the Product record, they will automatically flow through to the Billing Line, Sales Order Line, Purchase Order Line, and Account Payable Line. These values can then be edited if necessary on the specific line items. This provides a consistent, easy way to achieve your accounting for your products.
If a product is non-inventoried and has one of the following use cases. Additional setup is required. Please see the Inventoried Product Setup knowledge Article for the following:
- Products to be used with Sales Orders
- Products to be used with Purchase Orders
- Products that you would like to recognize a Cost of Goods sold transaction with Revenue