This article explains how to set up a Products Custom Field.

Products Custom Fields are assigned to products. Usually, this is the list of Charts of Accounts/Cost Centers or other custom fields. They can be used in your products from the catalog and budgets.

You can use Products Custom Field to add Chart of Accounts or Cost Centers in Precoro.

Basically, the Chart of Accounts/Cost Center lists the names of the accounts that a company has identified and made available for recording transactions in its general ledger. They establish the level of details tracked in a record-keeping system. 

Typically, the Chart of Accounts/Cost Center contains the accounts’ names and identification codes.

How to create a Chart of Accounts/Cost Centers:

  • Navigate to the left side of the menu and choose Configurations —> Products Custom field

  • Press the "Add" button to create a new Products Custom Field. Its Type should be 'Select'. Add names for Chart of Accounts/Cost Centers to the name fields based on your needs.

  • You can also add codes to options but the code field is not mandatory.

  • Configure basic settings for this Custom Field

  • Select in which documents/modules of Precoro the particular Products Custom Field will be available by putting a check. 

  • You can make your list of options hierarchical — if you have any sub-levels of your Chart of Accounts/Cost Centers you can add them by hitting "Add sub-level 2" / "Add sub-level 3"

How to set up the GL codes or Chart of Accounts for Products

General Ledger codes are numerals used to designate a payable or receivable by type.

In order to track all purchases through all the codes, add an appropriate type of cost tracking in the Products Custom Field page.

  • Choose the type "Select"

  • Select where to use these codes (Catalog, Purchase Orders, etc.)

  • Set up the field as required or not

  • Add all values in lines or a hierarchy view. You can add options one by one using the "+Add Option" button, or massively using the "Import Options" feature. Please, check this article on how to import options to your Product custom field.

If you have a fixed catalog of goods and services that you use, it would be beneficial to predefine the Chart of Accounts for products in the catalog.

Preselected codes will be settled for items in the documents (PO, Invoice, etc.)