Products are part of the underlying Salesforce platform. Products are the individual items that you sell. You can create a product and associate it with a price in a price book.
See "Product Fields" in the Salesforce Help for a description of the standard fields that make up a Product. The FinancialForce applications extend the standard Product object to include the following custom fields and related lists.
Multi-currency organizations only.
| Field | Description | ||
|---|---|---|---|
| Product Currency | * | M | The currency in which this product is sold. |
Here is a description of the custom fields provided in the FinancialForce package. This section may have been customized by your administratorOne or more individuals in your organization who can configure and customize the application. Users assigned the System Administrator profile have administrator privileges.. It may not appear like this in your organization.
Key: V - VAT, GST and Combined tax modes only; S – Sales and Use Tax mode only
| Field | Description | |
|---|---|---|
| Purchase Analysis Account | An appropriate purchase analysis general ledger accountThe general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves.. This cannot be the Retained Earnings account. This is used when you post a payable invoiceA commercial document issued by a seller to a buyer, indicating the products, quantities and agreed prices for goods or services that have already been provided. You issue sales invoices and receive payable/purchase invoices. or payable credit noteDocument used to rectify errors made on an invoice which has already been processed and sent to a customer. Sometimes called a credit memo. You issue sales credit notes and receive payable/purchase credit notes. that includes this product. | |
| Input VAT/GST Code | V | Default tax code to use when entering this product on a payable invoice when the tax mode is "Value Added Tax", "GST" or "Combined". See About Tax for a description of when this tax code is used. |
| Sales Revenue Account | An appropriate sales revenue general ledger accountThe general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves.. This cannot be the Retained Earnings account. This is used when you post an invoiceA commercial document issued by a seller to a buyer, indicating the products, quantities and agreed prices for goods or services that have already been provided. You issue sales invoices and receive payable/purchase invoices. or credit noteDocument used to rectify errors made on an invoice which has already been processed and sent to a customer. Sometimes called a credit memo. You issue sales credit notes and receive payable/purchase credit notes. that includes this product. | |
| Output VAT/GST Code | V | Default tax code to use when entering this product on a sales invoice when the tax mode is "Value Added Tax", "GST" or "Combined". See About Tax for a description of when this tax code is used. |
| Sales Tax Status | S | Tax status of this product. This custom picklist must remain fixed. Do not add or amend its values. The default is "Taxable". "None" is not a valid option here. If a product's tax status is "Taxable" , the tax codes defined on the account are used to derive the tax rate. The rate used is that in force on the invoice date. If the product's tax status is "Exempt", the tax codes defined on the account are used, but a tax rate of 0.000% is applied. If the product's tax status is "Exempt for Qualifying Accounts", the tax codes defined on the account are used for qualifying accounts (those with a sales tax status of "Exempt for Qualifying Products"), but a tax rate of 0.000% is applied. |
| External Sales Tax Code | S | If your organization is configured to use an external system for sales tax calculation and product-specific tax calculation is required, you can map this product to a tax code in the external system by specifying the tax code here. If the product code exactly matches an item code in the external system and a tax code is associated with the item in the external system, that tax code will be used regardless of whether or not a value is entered here. If this field is left blank and there is no tax code associated with the corresponding item in the external system, then sales tax will be calculated based solely on the addresses. See Setting up Tax Calculation for Sales and Use Tax for more information. |
| Field | Description |
|---|---|
| Allow Deletion of Products in Use |
|
| Field | Description |
|---|---|
| Income Schedule | Select an income schedule if this product or service is likely to be associated with it on a sales invoice. This sets the default value in the Income Schedule field on all sales invoice line items related to this product. See "Sales Invoice Fields" for more information. |
Related Concepts
Related Tasks
Setting up Accounts Payable Information