Product Master

       A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price. 

     InvoiceNET® Lite provides product master option for defining product properties which can be used later  in transactions(Sale,Purchase,etc..)

• Step 1
  • Click Masters=>Product Master to create, modify or delete products as shown Step 1 figure
•  Step 2
  • Now Product Master creation window is appeared as shown in Step 2 figure
• Step 3
  • User have to fill the text boxes as shown in Step 3 figure
    • Name=>Enter the product name here. It must be unique and compulsory
    • Description=>Enter detailed description of the product here if any
    • Unit Name(F1->Create)=> Select measurement unit of the product here.If unit that you want is not available in the list, then press F1 to create new Unit.
    • Group Name(F1->Create)=>Select product group name here. If product group that you want is not available in the list, then press F1 to create new Product Group.
    • Std. Purchase Price=>Enter purchase price here. It is optional. If you specify purchase price here, you can use it in transactions. 
    • Std. Cost Price=>Enter cost price here. It is optional. If you specify cost price here, you can use it in transactions. 
    • Std. Selling Price=>Enter selling price here. It is optional. If you specify selling price here, you can use it in transactions. 
    • MRP=>Enter MRP here. It is optional. If you specify MRP here, you can use it in transactions. 
    • Is Affect Stock=>Select ‘Y’ if that product needs to affect stock. Otherwise set it to ‘N’
    • Opening Stock=>Enter opening stock quantity here(if any)
    • Opening Value=>Enter opening value here(if any)
    • Tax Class(F1->Create)=>Select tax class here.If tax class that you want is not availab;e in the list, then press F1 to create new Tax Class
    • HSNCode(F1->Create)=>Select HSN code here. If HSNCode  that you want is not available in the list, press F1 to create new HSN Code
  • After filling above text boxes, need to click save button to create a new product