Non-Stock Item: Implementation Activity

The following activity will walk you through the process of creating a new non-stock item.

Attention: This activity is based on the U100 dataset. If you are using another dataset, or if any system settings have been changed in U100, these changes can affect the workflow of the activity and the results of the processing. To avoid any issues, restore the U100 dataset to its initial state.

Video Tutorial

This video shows you the common process but may contain less detail than the activity has. If you want to repeat the activity on your own or you are preparing to take the certification exam, we recommend that you follow the instructions in the steps of the activity.

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Story

Suppose that SweetLife Fruits & Jams company pays rent for its office facilities, which is a fixed amount paid every month. The amount the company pays is $4,800 a month starting from 1/30/2024. To make creation of documents easier for accountants, a new non-stock item for rent should be available in the system.

Acting as a SweetLife accountant, you need to create the new non-stock item and specify the needed settings.

Process Overview

In this activity, you will create a non-stock item on the Non-Stock Items (IN202000) form. On the tabs of this form, you will specify the item's settings, such as type, posting class, and units of measure. Finally, on the Price/Cost tab of the form, you will specify the unit cost for the item.

System Preparation

To prepare the system, do the following:

  1. Launch the MYOB Acumatica website, and sign in to a company with the U100 dataset preloaded. To sign in as an accountant, use the johnson username and the 123 password.
  2. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Step 1: Creating a Non-Stock Item

To create a non-stock item, do the following:

  1. Open the Non-Stock Items (IN202000) form.
  2. On the form toolbar, click Add New Record and specify the following settings in the Summary area:
    • Inventory ID: RENT
    • Item Status: Active (selected by default)
    • Description: Rent
  3. On the General tab, specify the following settings for the item:
    • Type: Charge
    • Posting Class: NONSTOCK - Non-Stock Items
    • Tax Category: EXEMPT
    • Require Receipt: Cleared
    • Require Shipment: Cleared
  4. In the Unit of Measure section of the General tab, specify the following settings:
    • Base Unit: ITEM
    • Sales Unit: ITEM
    • Purchase Unit: ITEM
  5. On the GL Accounts tab, in the Expense Account box, select 62900 - Rent or Lease Expense.
  6. On the form toolbar, click Save.

Step 2: Specifying the Unit Cost for the Item

To specify the unit cost for the non-stock item, do the following:

  1. While you are still on the Non-Stock Items (IN202000) form, click the Price/Cost tab and specify the following settings in the Standard Cost section:
    • Pending Cost: 4800
    • Pending Cost Date: 1/30/2024
  2. On the form toolbar, click Save.
  3. On the More menu (under Other), click Update Cost.

    The cost you have specified is now effective and is displayed in the Current Cost box and its effective date has been set to 1/30/2024.