Records that use items
Items appear on the lines of Money-In and Money-Out records. Whether a line must reference an item depends on the record:Item types
The item type decides which fields and GL accounts the item form shows. The table below lists each type:
The Discount type remains only so existing setups keep working. Order level discounts on the invoice or sales order replace it.
Item fields
Each field below sets a default that copies onto transaction lines when you select the item. Required fields must be filled before the item saves:Account mapping
The GL accounts on an item decide where its transaction lines post. An item with no Income Account can’t be used on Money-In records, and an item with no Expense Account can’t be used on Money-Out records. The table below lists every account an item can carry:
Any active account in your chart of accounts can be mapped. Income and Expense aren’t limited to Revenue or Expense account types: a pass-through charge collected for a third party, for example, can map Income to a liability account.
Account changes apply to new transactions only. Posted entries keep the accounts they posted with, and moving past activity takes a journal entry.
List Prices, currency, and SSP
An item’s List Price is the default Rate on a new transaction line, set separately for each currency you sell in. These rules decide which List Price a line uses:- One price per currency: an item holds at most one List Price per currency, such as a fixed USD price and a fixed CAD price for the same item.
- Matched by transaction currency: a new line takes the List Price in the transaction’s currency. DualEntry doesn’t convert a List Price from another currency with FX rates.
- No price in that currency: if the item has no List Price in the transaction’s currency, the Rate is left blank for you to enter.
- Currency changed on the transaction: lines re-price to the List Price in the new currency, or go blank if the item has none in it.
- Rate is a default only: changing the Rate on a transaction doesn’t change the item.
Company access
Company access controls which companies in a multi-entity structure can add an item to new transactions. By default, every company can use every item. Removing a company’s access stops it adding the item to new transactions. Transactions that already use the item don’t change. An item has one set of GL accounts, shared by every company with access. Your chart of accounts is also shared, so the same account numbers post in each company’s books. Two subsidiaries that need different accounts for the same product need a separate item each.Edits and inactive items
Changes to an item’s fields apply to new transactions only. Existing transactions keep the description, price, and accounts they were created with. If your organization routes items through approval workflows, an edit takes effect only after it’s approved. Changing an item’s Type isn’t blocked after the item has been used. The new type’s fields and accounts apply to new transactions, and existing transactions keep how they posted. An inactive item can’t be added to new transactions. It stays on every transaction that already uses it and in reports, and it can be set back to Active at any time.Integrations that create or update items
Several integrations create or update items for you, using the GL accounts set in each integration’s settings. The table below lists what each one does:
Other features read item settings directly. Revenue Recognition reads the List Price and Deferral Account, invoice templates read item translations, Billable Expenses reads the Use for Billable Expenses setting, and the Sales by Item report and item filters on financial statements group activity by item.