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Product Group table |
  
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Product Group table |
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Product Groups provide an easy way to define common characteristics for Products in that Group. These include items such as whether or not a typical Product is a Service, the typical Sales Discount Code, the typical Sales Commission Code and typical Asset, Revenue and Expense AccountID values etc.
The Asset, Revenue and Expense AccountID values are inherited at the Product Group by Warehouse level and may be subsequently changed there.
The other values are inherited as the initial default values when a new Product is added. These default values are simply the initial values for a new Product and may be changed as required.
These fields apply mainly to the Sales and Purchasing modules.
Field names below are the typical field names shown on forms.
Some of these are slightly different than the actual field names in the underlying table. In particular, actual field names do not have embedded spaces and field names of logical fields such as IsService are prefixed by ‘Is’.
Product GroupID
Identifies the Product Group.
Description
Describes the Product Group.
Service
Checked means Products in this Group are usually Services.
Unchecked means Products in this Group are usually not Services.
Services do not have OnHand Quantity or OnHand Available Quantity.
Sales Discount Code
This is the default Product Sales Discount Code for Products in this Group.
It corresponds to an entry in the Sales Discount rate table.
Sales Commission Code
This is the default Product Sales Commission Code for Products in this Group.
It corresponds to an entry in the Sales Commission rate table.
Vat Code
U.S.A. Unused.
Gst/Vat countries. The applicable default Vat/Gst code for Products in this Group.
Taxable
Countries with Sales Tax.
Checked means Sales Tax usually applies to Products in this Group.
Unchecked means Sales Tax does not usually apply to Products in this Group.
Countries without SalesTax. Unused.
Asset AccountID
This specifies the default General Ledger Asset Account for Purchases of Products in this Group.
Depending on your Purchasing Setup the Asset AccountID may be the Account that will flow through into Accounts Payable for purchases of this Product.
Revenue AccountID
This specifies the default General Ledger Revenue Account for Sales of Products in this Group.
The Revenue Account is used within the Sales module to determine the Account that will flow through into Accounts Receivable for sales and returns of this Product.
Expense AccountID
This specifies the default General Ledger Expense Account for Cost of Sales of Products in this Group.
The Expense AccountID is used with the Sales module to determine the Account used for Cost of Sales in the Generate Sales Journal Entries task.
Depending on your Purchasing Setup the Expense AccountID may be the Account that will flow through into Accounts Payable for purchases of this Product.