In hibooks, you can add products and services that you buy or sell regularly. You can create as many as you want in the system to make it easier to add bills, invoices and staff expenses. Learn how to manage items.
How do I Create a Product or Service ?
To access the page, click on Accounting and then on Product & Services from the sidebar menu.
Click on Create New.
Complete the fields.
Product/Service Information
Product/Service : you can choose if you are creating a product or a service.
Name : enter the name of the product or service.
Description : enter a description to identify your new product or service.
Stock/Non Stock : choose if you want to record it as a product that you stock or if it is a product that you don't keep stock record of.
I sell this product/services to my customers : tick this tickbox if you are selling the product or service.
Account : select the account for the product or service you are selling.
Sale Price : indicate what the sale price of the product or service is.
VAT : select the VAT rate for the product or service.
I purchase this product/services from my suppliers : tick this tickbox if you are buying the product or service.
Account : select the account for the product or service you are purchasing.
Unit Cost : indicate the cost of the product or service you re buying.
VAT : select the VAT rate for the product or service.
Inventory : if you have selected product, then can tick "Track Inventory" then the system will keep track of the inventory of the product.
Initial quantity on hand : the open stock on hand when you start recording stock in hibooks. Choose below the date that recording the stock in the system.
Reorder point : the point at which the system needs to alert you that you have to reorder.
When you have finished creating your new product or service, click on Save.
