The Inventory Categories List provides an overview of all inventory categories in your system, along with their default configuration settings. This list is crucial for managing how items are classified and how their financial transactions are recorded within your accounting system.

Navigating the Inventory Categories List

1. Filter and Search Options:

   • Select Tax Type: Use the dropdown to filter inventory categories by specific tax types.
   • Item Type: Filter the list by item types, such as purchased, manufactured, or service items.
   • Search: Utilize the search bar to find specific inventory categories by name or code.

2. Category Details:

   • Name: The name of the inventory category. Clicking the name allows you to view or edit the category details.
   • Tax Type: The default tax type associated with items within this category.
   • Units: The default unit of measurement for items in this category, such as pieces (PC).
   • Type: Indicates whether the category is for purchased, manufactured, or service items.
   • Sales Account: The general ledger account where revenue from sales of items in this category is recorded.
   • Parent: The parent category, if applicable, used in hierarchical item structures.
   • Inventory Account: The default account where the value of inventory in this category is recorded.
   • COGS Account: The default Cost of Goods Sold (COGS) account where expenses related to items in this category are recorded when sold.
   • Adjustment Account: The default account used for any inventory adjustments in this category.
   • Assembly Account: The account used for assembly-related transactions if the category includes items that are part of a manufactured product.

3. Actions:

   • Edit: Clicking the pencil icon allows you to edit the category’s default configurations.
   • Delete: Clicking the red cross icon will remove the category from the list.

Adding a New Inventory Category

• Click the "Add New" button to create a new inventory category. This will open a form where you can define the name, accounts, tax type, and other default settings for the category.