A product or service is exactly what it sounds like - items that you sell to your clients and customers. Products and services have some crucial differences that you should be aware of when creating them.
Products are usually physical items that you sell, such as furniture or equipment.
You can add a product by either;
Product stock allows you to keep track of the amount of stock you have available of any product, and prevent invoices going out with stock you do not have available. Important notes on stock;
You can manage stock at any time by going to suppliers > stock levels.
Services are usually hourly or daily items that your company provides through labour or expertise in your field. For example, design, consulting or labour.
You can add a service by either;
You will notice that when you create a prospect or client, you have the option to select the price tier that they fall under. This allows you to segment your pricing according to a tiered structure if you choose. For example, you may have two clients; both clients purchase a website development from you, but one client requires a more senior developer and so should be charged at a higher rate. These clients would have different price tiers, and you would create a website development service for each price tier at the different rates.
Corresponding to this, you can create a service that applies to one or more price tier. In the example above, you would create the same service for price tiers A and B, but the service of price tier B would be charged at a higher rate.
When creating a quote, only the services with the applicable price tier will be available to be added.
Categories allow you to segment your quotes and invoices for easy reading. All services or products added to a quote that fall under the same category will be grouped together. For example, you might create the category "graphic design" and another for "website development". Creating a variety of services under each of these will result in them being segmented and therefore logically broken down.
You can update your company categories by;
You cannot delete categories - only disable them.
A complex product or service allows you to create an item that is a combination of simple products or services. For example, you might sell a furniture set that is made of a table and 6 chairs, where each of these is already a product; or you might sell a service that is made up of 10 hours of graphic design and 5 hours of website development.
You can create a new complex item by;
When you add a complex product or service to a quote, you will notice that all of the children items are also added, without a charge indicated. The total charge is added to the complex item. When you add or remove items from a complex product/service, the total cost and charge is automatically calculated based on all of the children items.
In order to create a complex product/service, all simple products/services must already exist.
When you create a new quote, you will notice that you have the option of using a new product or service. You do not need to create products or service in advance to add them to a quote.
Temporary items are not saved for future use. For example, you might add the item "business card printing" to a quote. Since this item is variable based on the client requirements, you do not want to create a permanent item to your company. Instead, you can add it to a quote and the item will not exist outside of this quote.
You can also choose the "save service/product" option to add it as a permanent item for use in future quotes. This is a quick way to create your own database of products or services as and when you need to.
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