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      How to Create and Set Up Items Custom Fields (Chart of Accounts/Cost Centers)

      This article explains how to set up Items Custom Fields. 

      Items Custom Fields are assigned to items and can be used in documents and budgets. Usually, this is the list of Charts of Accounts/Cost Centers or other custom fields. 

      Generally, the Chart of Accounts/Cost Center lists the names of 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.

      TABLE OF CONTENTS

      How to Create Charts of Accounts/Cost Centers


      1. Navigate to Configuration → Items Custom Fields. 


      2. Press the Add field button to create a new Items Custom Field.


      3. Enter the required information in the fields marked with *. Adjust the Basic Settings, Available to select in documents, and Description as you prefer.
      You have three available options to choose from:

      • Drop-down list
      • Text
      • Date.

      For the Chart of Accounts set the Drop-down list option.


      4. Press the Add option button and enter the necessary information. If you have enabled Code, enter it as well.

       

      You can make your list of options hierarchical: If you have any sub-levels of your Chart of Accounts/Cost Centers, use a hierarchy with up to 5 sub-levels.


      5. Press the Update button below to save the changes.


      How to Set Up a General Ledger or Chart of Accounts Codes for Items


      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 — a Drop-down list on the Items Custom Fields page.

      1. Select where to use these codes (Items, Purchase Orders, etc.).

      2. Set up the field as required or not.

      3. Add all values in lines or a hierarchy view. You can add options one by one using the + Add Option button, or using the bulk Import Options feature.
        Please check this article on how to import options to your Items Custom Fields.



      If you have a fixed catalog of items and services that you use, it would be beneficial to predefine the Chart of Accounts for items in the catalog. Preselected codes will be settled for items in the documents (Purchase Order, Invoice, etc.).