Warehouse/Product Class Setup

If you've added a new Warehouse or Product Class, you'll need to activate any new Warehouse / Product Class combination(s) where you want to support purchasing, stocking or selling inventory.

1. Open the Product Class window.

Navigate to Warehouse Management ➤ Product Classes.

From here you can choose which Product Classes to activate for the new Warehouse.

Click Show All to view the list of Product Class records. Double-click a record to open it.

The Product Class list.

2. The Product Class detail.

As you can see from the below example, we have not activated or entered any GL Accounts for the Hendersonville Warehouse. We will need to enter the GL Accounts before we can complete the Warehouse/Product Class link.

The Product Class detail.

3. Enter (and Activate) the GL Accounts for the Warehouse/Product Class combination.

Enter a value for each of the following GL accounts and then click to place an "X" in the Active column.

  • GL Inventory Acct Code (A): The GL Account used to capture the value of Inventory on-hand.
    • This account must be labeled with the Setup Type "A-Inventory."
    • This account will be debited when Inventory is received and credited when Inventory is sold.
  • GL Def Revenue Acct Code (L): The GL Account used to capture the Liability for items that have been Invoiced but have not yet shipped.
    • Even if you don't intend to use this feature, an account must be established. Please refer to the article on Deferred Revenue for more information on this topic.
    • This account requires the Setup Type "L-Deferred Revenue".
  • GL Income Acct Code (I): This is the default account used to recognize Revenue (i.e. Sales) for the indicated Warehouse.
    • Note that you normally use an Income type account for this purpose, but AcctVantage does allow you to use an Expense account.  
    • This account does not require any special Setup Type.
  • GL Cost Account Code (E): This is the default account used for Cost of Goods sold reporting for Sales from the indicated Warehouse.  
    • Normally you would use an Expense type account here, but Income accounts are also allowed.
    • This account does not require any special Setup Type.

In the example below, I have used the same accounts for the Hendersonville warehouse as were used for the other warehouses. This will not necessarily be the case in your situation. Please consult with your accountant if you are unsure which GL Accounts to use here.

Enter (and Activate) the GL Accounts for the Warehouse/Product Class combination.

When you have entered the appropriate GL Accounts and Activated the Warehouse/Product Class link, click OK to save and the process is complete. Repeat this for as many Warehouse/Product Class combinations as you need.

See this article for information on Client Category Overrides.