Set up Non-Inventoried Product

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Overview

Accounting Seed uses the Salesforce Product object as the Product Master. All fields and objects needed to manage products are either on the Product object itself or can be seen as a related list on a Product.

Products in Accounting Seed can be used to sell productized services or intellectual property products. The use of products in basic Accounting Seed will allow you to recognize revenue in an expedited and convenient way and 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 set on the Salesforce Product when creating a Billing from the Salesforce Opportunity and Opportunity Products.

Access path: Navigate to Accounting Home and click the Setup tab. Then, under the Master menu, click Products. Click New to add a new product.

GL Accounting Fields on the Product

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 and easy way to achieve your accounting for your products.

Note: If a product is non-inventoried and has one of the following use cases, then 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

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Set up Non-Inventoried Product

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1066289081

Set up Non-Inventoried Product

Overview

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