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Create new product and service records

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How to create new product and service records in Sage Accounting.


Create product and service records for items you buy and sell regularly. Here you set a code and description, cost and sales prices, default ledger account and categories for grouping similar items.

If you subscribe to Accounting Plus, set products as stock items to track your stock levels and set reorder levels.

If you have details of your products and services in another system, consider importing them using a CSV file. Find out how to import products and services from a CSV file.


Before you start

Set up names for sales prices and service rates.

Set up default sales and purchase ledger accounts.

Set up default sales and purchase VAT rates.

What you need to know

You can create different types of products and services:

  • Stock – These are product items that you want to count and track. When you buy and sell these items, the number in stock is increased or reduced. You can also report on all the activity of your stock items
  • Non-stock – These are physical product items that you buy and sell, but don’t want to keep track of. You can still add them to sales and purchase invoices but the number in stock isn’t recorded
  • Service – These are non-physical items that you buy and sell. For example, if you're a training company, you might set up a service record for each training course. A computer repair company may have stock and non-stock items to track hardware items but also enter service items for other work done, such as software upgrades or virus removal

Create a new product or service

  1. Select Products & Services.
  2. Select New Item.
  3. Select Stock, Non-stock or Service.
  4. All records must have an Item Code and Description.
  5. If you sell this item, complete the details in the I sell this item section.
  6. If you buy this item, then complete the details in the I Buy This Item section.

Related Solutions

Import products and services from a CSV file

Manage product categories

Managing your stock