Create New Product

How to Create Product Group? 

1. Click on Stock – Product Management – Product Group icon for the following screen.

2. Enter the Product Groups as per the above example.

Important: Product groups are mainly used as additional analysis tool for various reports in the system. Some of the most commonly used reports are Sales Analysis-Product Group Wise and Inventory reports that can be sorted by Product groups.

How to Create Product Brand/Size/Made? 

Click on Stocks – Product Management – Product Brand icon for the following screen.

Click on Stocks – Product Management – Product Size icon for the following screen

Click on Stocks – Product Management – Product Made icon for the following screen

• Enter the Size, Brand, Model, and Made options as shown in the examples above.
• The codes are limited to 4 alphanumeric characters.
• The descriptions are limited to 40 alphanumeric characters.

Important: Size, Model, Brand and Made are mainly used as additional analysis tools for various reports in the system. Some of the most commonly used reports are Sales Analysis-Product Size Model Wise and Inventory reports that can be sorted by Model and Brand.

How to Set-up Inventory Control Account? 

Click on Stock – Maintenance – Inventory Control Account for following screen.

In UNIQ365, this option determines how the GL is to be updated when saving transactions. You need to specify the chart of account codes for Sales, Purchase and Inventory transactions.

 Important: Being a packaged solution, UNIQ365 caters for almost any type of industries with 3 types of stock posting options.
1. No Stock Posting
2. Cost of Sales Posting
3. Closing Stock Posting

 Stock Posting Methods

1. No Stock Posting

• Inventory module is not linked to GL.
• All the movement of the stock could still be captured in inventory module.
• User needs to post a journal entry manually to Closing stock & Opening stock accounts for month end closing or year-end closing.
• Normally, Profit and Loss Account will be presented as follows: 

In this case, Purchase Account will be categorized under Expense account.

Below is an example of a double entry for: - 

a. Purchase Invoice amounted to $500.00

b. Sales Invoice amounted to $1,000.00

2. Cost of Sales Posting

• Inventory module is linked to GL.
• Closing stock will be automatically updated when Sales,
• Purchase or Inventory transactions are performed. 

Profit and Loss Account will be presented as follows:

• In this case, Purchase Account will be categorized under Liabilities account. 

Below is an example of a double entry for:-

a. Purchase Invoice amounted to $500.00