New Item or Service
Items and Services are the central records behind every product you sell and every service you bill. They drive inventory tracking, tax calculation and the accounting entries raised across Sales, Purchases and Manufacturing, which makes getting them right the foundation of everything else.
Where to find it
Go to Items and Services > Inventory > + New Item | Service, or use New at the top of the module and select Item | Service. Fields marked with an asterisk are mandatory; complete them before clicking Insert New Item.
General Settings
| Field | Description |
|---|---|
| Item Code | The unique identifier used to track the item everywhere. Every import and transaction references it, so decide your coding scheme before you start. |
| Name | The title shown on invoices and reports. |
| Description / Alternate Name | Extra detail or a secondary name for internal reference. |
| Category | Groups similar items for reporting and filtering. The category also carries default accounts — see Categories. |
| Item Type | Stock item, service or fixed asset. This is the field that decides whether the record holds stock at all. |
| Unit of Measure | How the item is counted. See Units. |
| Tax Type | The tax applied when the item is bought or sold. |
Item Type is the choice with the widest consequences. A service holds no stock, moves nothing on a delivery and posts no cost of goods sold. Creating a physical product as a service means it never appears in your stock valuation.
HSN/SAC Management
Mandatory for Indian GST. The HSN code for goods, or SAC code for services, classifies the item for tax purposes and appears in the HSN summary on invoices and in your GST returns. Set it when the item is created — correcting it later means the returns already filed do not match.
GL Accounts
Each item can override the default posting accounts from System and GL Setup.
| Account | Used when |
|---|---|
| Sales Account | The item is sold — revenue posts here. |
| Inventory Account | Stock of this item is held. |
| C.O.G.S. Account | The item leaves on a delivery or invoice. |
| Inventory Adjustment Account | The item is adjusted, disposed of or reconciled. |
Leave them blank to inherit from the category, which in turn inherits from the system defaults. Override only where a specific item genuinely needs separate reporting.
Others
Additional attributes — dimensions, weight, supplier references, barcode and image — used on documents and in picking. None are mandatory, but the barcode matters if you scan at entry.
Editing and Cloning
An existing item can be edited from its Items View. Cloning copies an item's setup into a new record, which is the quickest way to add a variant that shares category, tax type, unit and accounts.
Cloning copies configuration, not stock. The new item starts at zero quantity and gets its opening balance the same way as any other — through an adjustment.
Action Button
| Button | What it does |
|---|---|
| Insert New Item | Saves the record and makes the item available across the system. |
Related pages
- Inventory List — find and manage items
- Items View — prices, stock, transactions and BOM
- Categories — grouping and default accounts
- Units — how items are counted
- Items Import — creating items in bulk