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Products and Services

This guide explains products and services in MyCloudBook: the three item types and their fields, inventory products and their opening stock, categories, inventory adjustments, the product movements, and the delete rules.

Overview

The products and services are the items that the company sells or buys. Every line of an invoice, a receipt, an estimate, or a credit note can name one of them; the item then proposes the description, the price, the tax, and the accounts of the line. MyCloudBook has three types:

TypeMeaning
Inventory ProductA good that the company keeps in stock, for example a coffee grinder. MyCloudBook counts its quantity on hand and its value with the FIFO method (first in, first out). The product must be for sale and for purchase.
Non-Inventory ProductA good that the company sells or buys without stock control, for example goods bought for one order.
ServiceWork that the company sells or buys, for example an hour of training.

The type is chosen when the item is created and cannot change later. The stock of an inventory product changes with every invoice, receipt, credit note, bill, and expense, and with the inventory adjustments of this screen.

How to open the screen

  1. In the left navigation, click Sales.
  2. Click the Products & Services tab, the fourth tab of the Sales page.

The list

The list shows every product and service in the alphabetical order of the name.

The Products & Services list with numbered markers on the toolbar, the columns and the paging toolbar.
Figure 1. The Products & Services list.
  1. 1Products & Services tab.
  2. 2New. Opens a menu: Inventory Product, Non-Inventory Product, Service.
  3. 3Search .... Finds the items by name or SKU. Press Enter.
  4. 4Inventory Adjustments. Opens the list of the inventory adjustments.
  5. 5Manage Categories. Opens the categories window.
  6. 6Name.
  7. 7SKU.
  8. 8QTY On Hand. Inventory products only.
  9. 9Low Stock Alert. The reorder level of an inventory product.
  10. 10Sales Price.
  11. 11Cost. The purchase price.
  12. 12Type. Inventory, Non Inventory, or Service.
  13. 13The row actions button: Edit, Product Movements (inventory products only), and Delete.
  14. 14The paging toolbar.
The row actions menu of an inventory product with Edit, Product Movements and Delete.
Figure 2. The row actions menu of an inventory product.
  1. 1Edit. Opens the product window.
  2. 2Product Movements. Opens the stock movements of the product.
  3. 3Delete.

Adding a product or a service

  1. Click New and choose the type. The window opens with the tabs of the type.
  2. Type the Name, and the UPC / SKU if you use codes or barcodes. Choose a Category if you use categories.
  3. In Sales Info, type the Sales Price, select the Income Account, the sales description, and the Tax.
  4. In Purchasing Info, check Is For Purchase when you buy the item, and type the Cost and the Expense Account.
  5. For an inventory product, fill in Inventory Tracking.
  6. Click Save.
The New menu of the products list with Inventory Product, Non-Inventory Product and Service.
Figure 3. The New menu.
  1. 1Inventory Product.
  2. 2Non-Inventory Product.
  3. 3Service.
The Add Service window with the Main Info fields and the Sales Info tab.
Figure 4. The Add Service window.
  1. 1Name. Required.
  2. 2UPC / SKU.
  3. 3Category.
  4. 4The tabs Sales Info and Purchasing Info.
  5. 5Is For Sale. Checked by default.
  6. 6Sales Price.
  7. 7Income Account. Required while the item is for sale.
  8. 8Description. The sales description, proposed on the documents.
  9. 9Tax. The sales tax, proposed on the documents.
  10. 10Save.
  11. 11Cancel.
The Purchasing Info tab of a service with Is For Purchase, Cost, Expense Account and Description.
Figure 5. The Purchasing Info tab.
  1. 1Is For Purchase.
  2. 2Cost.
  3. 3Expense Account.
  4. 4Description. The purchase description.

The fields

FieldRequiredPurpose and rules
NameRequiredThe name of the item. It must be unique in the company; the letter case is ignored, so ceramic mugs and Ceramic Mugs are the same name.
UPC / SKUOptionalA product code or a barcode. When given, it must be unique, ignoring the letter case. The documents can add an item by its SKU.
CategoryOptionalA category of the categories window. It groups the items; it has no accounting effect.
Is For SaleOptionalChecked when the item is sold. Only items for sale appear on invoices, receipts, estimates, and credit notes. Always checked for an inventory product.
Sales PriceOptionalThe price proposed on the sales documents. It can be changed on each document.
Income AccountRequiredRequired while the item is for sale. The account that the sales of the item credit. A main account is refused.
Description (sales)OptionalUp to 4000 characters. Proposed as the line description on the sales documents.
TaxOptionalThe sales tax proposed on the sales documents.
Is For PurchaseOptionalChecked when the item is bought. Always checked for an inventory product.
CostOptionalThe purchase price. Required for an inventory product, where it is also the cost of the initial quantity.
Expense AccountRequiredRequired while the item is for purchase. For an inventory product it is the cost of goods sold account. A main account is refused.
Initial Quantity
on hand		RequiredInventory product only. The quantity in stock on the As of Date, 0 or more. A negative quantity needs a decrease adjustment.
As of DateRequiredInventory product only. The date of the initial quantity.
Inventory Asset
Account		RequiredInventory product only. An asset account in the main currency that holds the value of the stock. It cannot change once the product is used in documents.
Low Stock alertOptionalInventory product only. The reorder level shown in the list.

Example: an inventory product

The example adds the inventory product Milk Frothing Pitcher, with 24 pitchers in stock on October 1, 2026, bought at 9.00 each.

  1. Click New, Inventory Product. Type the name, the SKU PITCH-12, and choose the category Barware.
  2. In Sales Info, type the price 18 and check the Income Account.
  3. In Purchasing Info, type the cost 9.
  4. In Inventory Tracking, type 24 in Initial Quantity on hand, set the As of Date to October 1, 2026, and type 5 in Low Stock alert.
  5. Click Save.
The Add Inventory Product window with the Sales Info tab filled in for the Milk Frothing Pitcher.
Figure 6. The Sales Info tab of an inventory product.
  1. 1Name.
  2. 2UPC / SKU.
  3. 3Category.
  4. 4The tabs Sales Info, Purchasing Info, and Inventory Tracking.
  5. 5Is For Sale: always checked for an inventory product.
  6. 6Sales Price.
  7. 7Income Account.
  8. 8Description.
  9. 9Tax.
The Purchasing Info tab of an inventory product with the cost 9.00.
Figure 7. The Purchasing Info tab of an inventory product.
  1. 1Is For Purchase: always checked for an inventory product.
  2. 2Cost: required.
  3. 3Expense Account: the cost of goods sold.
  4. 4Description.
The Inventory Tracking tab with the initial quantity 24, the date October 1, 2026, the Inventory Asset account and the low stock alert 5.
Figure 8. The Inventory Tracking tab.
  1. 1Initial Quantity on hand.
  2. 2As of Date.
  3. 3Inventory Asset Account.
  4. 4Low Stock alert.
  5. 5Save.

The save creates an Inventory Init document: 24 pitchers enter the stock at 9.00, and a journal entry debits the Inventory Asset account and credits Opening Balance Equity for 216.00. The list then shows 24 in QTY On Hand. A later change of the initial quantity, the date, or the asset account updates that document.

The products list with the new Milk Frothing Pitcher and 24 on hand.
Figure 9. The new inventory product in the list.
  1. 1The new inventory product, with 24 on hand.

The checks

The window checks the required fields of the visible tabs and opens the tab of the first empty field. The server refuses a name or an SKU that another item already uses.

The Add Service window saved without a name: the message Some fields are not valid!
Figure 10. A product without a name.
  1. 1Name is required.
  2. 2The message.
The message Item with the name 'ceramic mugs - set of 6' already exist.
Figure 11. A name that another item uses, in another letter case.
  1. 1The message from the server.

Categories

Categories group the products, for example Barware or Coffee Equipment. A category can belong to a main category, which gives a tree. Click Manage Categories in the products list, then Add Category. The row menu of a category offers Edit and Delete. A category that has sub-categories or products cannot be deleted.

The Add Category window with the name Barware.
Figure 12. The Add Category window.
  1. 1Category Name. Required.
  2. 2Main Category. Empty for a top category.
  3. 3Save.
The Manage Categories window with the category Barware.
Figure 13. The Manage Categories window.
  1. 1Add Category.
  2. 2Refresh.
  3. 3The categories, with their sub-categories.

Inventory adjustments

An inventory adjustment corrects the stock of inventory products: an Increase adds quantities, for example free units from a supplier, and a Decrease removes quantities, for example broken or lost goods. Click Inventory Adjustments in the products list. The list also shows the Inventory Init documents that the product window creates.

The Inventory Adjustments list with Inventory Init, Increase and Decrease documents.
Figure 14. The Inventory Adjustments list.
  1. 1Inventory Adjustments tab.
  2. 2New Inventory Adjustment.
  3. 3Adjustment No.
  4. 4Type: Inventory Init, Increase, or Decrease.
  5. 5Date.
  6. 6Reference.
The New Inventory Adjustment menu with Increase Inventory and Decrease Inventory.
Figure 15. The New Inventory Adjustment menu.
  1. 1Increase Inventory.
  2. 2Decrease Inventory.
  1. Click New Inventory Adjustment and choose Increase Inventory or Decrease Inventory.
  2. Check the Date and the Inventory Adjustment Account: Inventory Adjustment Gain for an increase, Inventory Shrinkage for a decrease.
  3. In each line, select the Product (inventory products only), type the quantity added or removed in QTY, and the Unit Cost. Current QTY and New QTY show the stock before and after.
  4. Click Save.
An increase adjustment of 6 pitchers at 9.00 with the current quantity 24 and the new quantity 30.
Figure 16. An increase adjustment.
  1. 1Save.
  2. 2Save & Close.
  3. 3Close.
  4. 4Adjustment No. 0 means the next number.
  5. 5Ref.
  6. 6Date.
  7. 7Inventory Adjustment Account. The other side of the journal entry.
  8. 8Product. Inventory products only.
  9. 9Current QTY. The stock before the adjustment.
  10. 10QTY: the quantity added.
  11. 11New QTY. The stock after the adjustment.
  12. 12Unit Cost.
  13. 13Total.
A decrease adjustment of 2 pitchers with the current quantity 30 and the new quantity 28.
Figure 17. A decrease adjustment.
  1. 1Inventory Adjustment Account: Inventory Shrinkage.
  2. 2Current QTY.
  3. 3QTY: the quantity removed.
  4. 4New QTY.

An increase debits the Inventory Asset account and credits the adjustment account. A decrease takes the oldest stock first (FIFO) and credits the Inventory Asset account at its cost. An Inventory Init document cannot be deleted from this list; change the initial quantity in the product window instead.

The message Document type of 'Inventory Init' can not be deleted.
Figure 18. An Inventory Init document cannot be deleted.
  1. 1The message from the server.

Product movements

Product Movements in the row menu of an inventory product opens the history of its stock: every document that added or removed quantities, with the unit cost, the value, and the balance after each movement. Group by Day and Group by Month total the movements per period. Download Excel downloads the current view. A double click on a movement in the full details opens its document.

The movements of the Milk Frothing Pitcher: Inventory Init 24, Increase 6, Decrease 2, balance 28.
Figure 19. The movements of a product.
  1. 1The movements tab of the product.
  2. 2Full Details, Group by Day, Group by Month.
  3. 3Download Excel.
  4. 4Document Type #.
  5. 5Rate: the unit cost. For a quantity that leaves the stock, the information icon shows the FIFO sources of the cost.
  6. 6Qty: in (positive) or out (negative).
  7. 7Balance: the quantity after the movement.
The movements of the Milk Frothing Pitcher grouped by month.
Figure 20. The movements grouped by month.
  1. 1Group by Month.
  2. 2Qty (IN), Qty (OUT), the closing balance, and the values of the period.

Deleting an item

Delete in the row menu asks for a confirmation. An item that is used on an invoice, a receipt, a bill, an expense, or an inventory adjustment cannot be deleted.

The message You can't Delete the item Commercial Coffee Grinder because it is used in one or more Invoice or Receipt.
Figure 21. A used product cannot be deleted.
  1. 1The message from the server.

Messages and their meaning

MessageCauseWhat to do
Some fields are not valid!A required field is empty, for example the Income Account or a field of Inventory Tracking.Fill in the field that is marked in red; the window opens its tab.
Item with the name 'X' already exist.Another item has the same name, in any letter case.Use another name.
Item with the Sku 'X' already exist.Another item has the same SKU.Use another SKU.
Income Account can not be a Main AccountThe income account is a main account.Select a sub account.
Inventory Asset account currency must be System Main Currency.The asset account has a foreign currency.Select an asset account in the main currency.
Inventory Initial Quantity must be greater than or equal to Zero. ...The initial quantity is negative.Type 0 or more, and use a decrease adjustment.
You can't change the 'Inventory Asset Account' because the item is used in one or more accounting documents.The product is used in documents.Keep the asset account.
You can't Delete the item X because it is used in one or more Invoice or ReceiptThe item is on a sales document.Keep the item.
You can't Delete the item X because it is used in one or more Inventory Adjustment.The item is on an adjustment.Keep the item.
You must have at least one product to adjust its quantity.The adjustment has no line.Add a product.
All ChangeQuantityBy values must be greater than 0.A line of an adjustment has the quantity 0.Type a quantity above 0.
'X' is not Inventory Item. All products in 'Inventory Adjustment' document must be inventory product.The SKU is not an inventory product.Use an inventory product.
Document type of 'Inventory Init' can not be deleted.Delete of an Inventory Init document.Change the initial quantity in the product window.
The Category 'X' can not be deleted, because it is assigned to one or more Product or Service.Products use the category.Change the category of the products first.

Questions and answers

What is the difference between an inventory product and a non-inventory product?

MyCloudBook counts the quantity and the value of an inventory product: sales reduce the stock and post the cost of goods sold, purchases increase it. A non-inventory product is sold or bought without stock control.

How do I enter the opening stock of a product?

Type the Initial Quantity on hand, the As of Date, and the Cost in the product window. MyCloudBook creates an Inventory Init document and posts the value to Inventory Asset and Opening Balance Equity.

How do I correct the stock after a count?

Create an inventory adjustment: Increase Inventory for missing quantities, Decrease Inventory for lost or broken goods. Current QTY and New QTY show the effect.

Which cost method does MyCloudBook use?

FIFO: the quantity that leaves the stock takes the cost of the oldest quantity that entered it. The Rate column of the product movements shows the sources of each cost.

How do I use another type for a product?

Create a new item of the other type. The type of an item is set when the item is created.