Stock Detail Accounting Tab
The [ Stock | Detail | Accounting ] tab contains accounting, tax and commodity code information specific to a stock item. These settings help control how the item is processed for financial transactions, VAT reporting, stock valuation and international trade requirements.
For information about the Other Actions menu, press F9 or select Other Actions, then see Stock Other Actions Menu.
Note: If a user has restricted access to sensitive data on this screen, they will be unable to make changes. User permissions are controlled through User Permissions.
Nominal Code Setup
These options allow you to assign nominal accounts directly to a stock item.
SNominal (Optional)
Assign a dedicated sales nominal account to the stock item.
When this field is populated, all sales of the item are posted to the specified nominal account. The stock item's nominal code is second in the nominal account hierarchy.
PNominal (Optional)
Assign a dedicated purchase nominal account to the stock item.
This purchase nominal mapping is only used when:
- The purchase nominal account has been entered.
- The stock item has the Exclude from COS option enabled.
In most cases, this setting is only required for items marked as Cost of Sales Excluded, unless Sage export functionality is being used.
Nominal Class (Optional)
Defines the nominal classification associated with the stock item.
VAT / Tax Setup
Base Tax Rate
Defines the tax rate applied to the stock item.
Tax rates are configured in [ System Data | Tax Rate ] and will typically be set to the appropriate VAT rate.
Commodity Codes, Intrastat and Customs Information
These settings are used for Intrastat reporting, customs documentation and international shipping requirements.
ICN (Optional)
The Intrastat Commodity Number (ICN) identifies how the item should be classified for Intrastat reporting.
For information about commodity codes and Intrastat requirements, visit the HM Revenue & Customs trade information website.
For setup instructions, see How To: Setup Intrastat ICN Codes.
Sup Unit Value (Optional)
This field is linked to the selected ICN code.
It records the supplementary unit quantity contained within the stock item. For example, if the supplementary unit is litres, this field records the number of litres contained within the item.
Harmonisation Codes
Harmonisation Codes provide an internationally recognised method of classifying goods traded between countries.
Selecting the Harmonisation Codes option opens the Stock Harmonisation Codes dialog, where codes can be linked to the stock item.
For more information, see How To: Link Harmonisation Codes to Stock Items.
The dialog contains the following information:
| Field | Description |
|---|---|
| Harmonisation Code | The code assigned to the product. |
| Description | A description of the harmonisation code. |
| Country | The country associated with the code. |
| Duty Amount | Used for reference purposes only. This value does not affect any other area of the system. |
Notes
- Harmonisation Codes must be created before they can be assigned to stock items. See How To: Create a Harmonisation Code.
- Only Harmonisation Codes linked to the item's Level 2 Stock Type will be available for selection.
- Harmonisation Codes can be used by integrated courier services and may also be included on reports created using Basic Reports.
Country of Manuf
Defines the country where the item was manufactured.
This information is used alongside Harmonisation Commodity Codes and customs documentation.
Net Weight
Records the item's net weight, excluding any packaging.
This value is used with Harmonisation Commodity Codes and should not be confused with the item's average weight displayed on the [ Stock | Detail | Properties ] tab.
Average weight is primarily used for:
- Intrastat reporting
- Courier selection
- Shipping weight calculations
Stock Value Calculation Method
This setting controls how the stock item's value is calculated when stock is purchased.
System Default
Uses the stock valuation method configured in the [ System Operations | Edit System Values | Options | Stock ] tab.
Last Price Paid
Overrides the system default valuation method.
The stock value is calculated using the net value from the most recent purchase invoice.
Average Price
Overrides the system default valuation method.
The stock value is calculated using the average purchase price of all stock currently held.
Standard Price
Overrides the system default valuation method.
The stock value is based on the value entered in the Stock Value field on the [ Stock | Detail | Properties ] tab.
Note: When the system is configured to use Average Costing, non-stock-controlled items automatically use the Last Price Paid method. This is because the system cannot determine an appropriate stock quantity against which to apply average costing calculations.
Additional Information
- Sales and purchase nominal mappings can be configured at stock item level when more detailed financial reporting is required.
- Commodity, Intrastat and Harmonisation Codes should be maintained carefully to ensure accurate customs and reporting information.
- Stock valuation methods can be applied at stock item level to override the system default where required.
- Access to modify accounting information may be restricted by user permissions.