- Go to Inventory > Product
- Click New Product button to create your product. You will see a checkbox 'I track this item for Inventory' under the Item Code field.
- Make sure you tick the checkbox 'I track this item for Inventory'. Automatically a field for Quantity in Hand will be enabled. Enter any figure in that field appropriately.
- You can select which Inventory account from the drop down list of Inventory account that you want to assign to this Item.
- Continue to fill in all the fields in new Product accordingly.
- Finally click Save to create this Product and track its inventory.
1) If you have entered Inventory value in Opening Balance, it is important for you to enter the quantity in hand for Inventory tracked item when you create this item. This will sync well with your Balance Sheet reporting and for your Inventory management.
2) You cannot edit the Quantity in Hand once you have transacted the item in the Purchase Invoice or Spend Money. The field will remain disabled. You need to use Item Adjustment to do any adjustment for the item.
Items tracked for inventory cannot be deleted if there is any accounting transaction involving this item. It has become a Balance Sheet item and removing it will be detrimental to the Balance Sheet reporting.