Exact Globe+

Creating and maintaining item groups

Menu paths

To create item groups, go to System ➔ Logistics ➔ Item groups and click New.
To make changes to an existing item group, go to System ➔ Logistics ➔ Item groups, select an item group, and then click Open.

Introduction

Item groups are used to group your items to enable efficient financial administrative reporting. Apart from grouping your items, you can determine the general ledger accounts to be used to record sales and stock of items belonging to every item group.

Fields

Item group

Type a number for the new item group. By default, the system will enter the next available number for the new item group. You cannot change the item group number for existing item groups.

Code

Type a unique code for the item group. You can edit the code for item groups.

Description

Type the description of the new item group. You can edit the description of item groups.

Basics tab

Revenue account

Type or select the revenue general ledger account. You will use this account to record revenue from items that belong to this item group. Recognized costs Type or select the general ledger account to be used for recording the recognized costs from the Work in Progress (WIP) calculation based on the Cost of Sales method. 4

Cost of goods sold account

Type or select the cost of goods sold account. You will use this account to record cost of goods sold for items that belong to this item group.

Cost unit

Type or select the cost unit. This item group will be charged to the cost unit. Note: This function is available only if you have the E-Cost Analysis module.

Discount account

Type or select the general ledger account to be used for recording the sales discount for this item group. Note: This field will only be enabled and become mandatory if you have selected Gross at Journalize amounts under the Print section in Invoice settings. For more information, see Invoice Settings.

Buttons

Save

Click this to save the new item group or all the changes made to an existing item group.

New

Click this to create another item group.

Close

Click this to exit.