Create an item (product or service) in Reckon One

Learn how to create an item in Reckon One, so you can add your products and services to invoices, bills, and other transactions, and so you can track your stock if using inventory.

Create a product or service item

1. In the Day to day menu (Business section), select Items.
2. Click Create.

1. Enter the Item name.
2. Select the Item type. The Item types available depend on whether you have the inventory feature.
   1. If you don't have inventory, your options are Product or Service.
   2. If you have inventory, your options are Service, Product (non-inventory), and Product (inventory). To track inventory on your item, choose Product (inventory.
   You can select a default item type, so when you create an item it will default to a specific type. Click on the cogwheel icon in the top right of Reckon One, select Settings, then under the Day to day section select Items and inventory.
3. (Optional) Enter an Item code, like SKU, if you wish to use one to track your item.
4. (Optional) If this item is to be grouped under another item, select the item you're grouping it under in the Sub-item of dropdown.
5. (Optional and if you've selected registered for tax in the Tax settings) Turn off the Amounts include tax toggle if you want amounts to show as Net (without tax) while creating the item. By default, the toggle is switched on and amounts show as Gross (with tax).
6. (Optional) Add images by dragging and dropping into the relevant area, or click on Select manually to choose from your computer. File type must be bmp, png, jpg, or gif, with a maximum size of 5MB.
7. (Optional) Click on Add / remove custom field to add extra item information, like serial number, size, colour or another detail to describe your product or service. Learn about custom fields.

Complete purchasing and/or selling details

By default, both the I purchase this item (to use in bills, payments etc.) and I sell this item (to use in invoices, receipts etc.) checkboxes are selected so you can enter information in both sections. If you don't need to record information against a section, deselect the checkbox. You need to record information against at least one section. For each section:

1. (Optional) Enter the Cost or Price per unit.
2. Enter the Tax code for the purchase or sale of the item.
3. Enter the Purchase account (or Cost of goods sold account, for inventory items) or Sales account to track purchases or sales of the item against.
4. (Optional) Enter a Description to have it appear against the item in transactions such as invoices and bills.
5. If you're creating a Product (inventory) item for use with the inventory feature, you'll need to complete inventory details next. If you're not creating an inventory item, it's time to save! You can:
   1. Click Save & New to save and create another item.
   2. Click the arrow dropdown next to Save & new and select Save & close to to return to the items overview.
   3. Click the arrow dropdown next to Save & new and select Save to save and keep the item open.

Complete inventory details

If you're creating a Product (inventory) item, you'll need to complete inventory details:

1. Enter an Inventory account.
2. (Optional)Enter a Reorder point, to indicate the lowest amount of stock you'll want to have before re-ordering. When an item's stock on hand reaches the reorder point, it will show as being low in stock. Learn more about how the reorder point allows you to identify and manage low stock items in Reckon One.
3. (Optional) If you have existing stock on hand, complete the Opening quantity and value section (this will create an opening stock adjustment entry in Reckon One):
   1. Enter a Quantity on hand. This is the quantity of the item that you currently have available in stock, excluding any items you've allocated for sale (e.g. through an invoice).
   2. Enter an As of date for your Quantity on hand. The item won't be able to be used on any transaction dated earlier than the As of date.
   3. Enter a Total value. This is the net value of items currently available in stock, based on average cost and excluding items already allocated for sale. To arrive at a Total value figure, multiply your average cost by your Quantity on hand (Average cost x Quantity on hand).
4. Now it's time to save! You can:
   1. Click Save & New to save and create another item.
   2. Click the arrow dropdown next to Save & new and select Save & close to return to the items overview.
   3. Click the arrow dropdown next to Save & new and select Save to save and keep the item open.

Read more

• Learn how to create an invoice