Product Integration with Other Options

The products you set up in your Sage accounting program will affect the other options in the program.

The Nominal Ledger Option

The only integration between your product files and the nominal ledger occurs when the net value of the product is posted to the sales and nominal ledgers when the invoice is updated to the ledgers.

It is necessary to post opening and closing stock values manually via journal entries at the end of each month. At the month end, after you have cleared your stock files, use the Nominal Ledger Journal Entries option to transfer the value of stock from the balance sheet stock account to the opening stock account for the profit and loss account. Then, you should post the closing stock to the balance sheet and profit and loss account.

The Invoicing Option

Every time you enter a product code on a product invoice or credit note, your program automatically enters details for you that are taken from the product record such as description and unit price. You can change any of these details specifically for the invoice or credit note you are creating, but any changes that you make do not effect any other invoice or credit note, and are not saved back to the product record.

When you update the ledgers with these product invoice and credit note details, your program automatically updates your stock levels for you, unless it has a product code of S1, S2 or M, or you have indicated on the product record that you want to æignore stock levelsÆ.

The Month End Procedure

When you run your month end, you have the option to clear your stock files. Clearing your stock files removes all the information from your stock history records.