Page Comparison

...

1. Open a new record from the Products service.
   • By default, the Products service is located in the Product Setup and Maintenance and the Inventory Management applications.
     
     
2. Enter the Name of the kit product or the product grouping.
   • Aptify recommends naming the kit to indicate it is a kit product. Likewise, the name of a product grouping should indicate that it is a group.
     
     
3. Select a product category in the Category field.
4. In the Product Type field, select a type from the list.
   • Depending on how the Product Type was configured, a new tab may display on the Products record.
   • Note that an assembled kit can contain products of multiple types (such as a kit that contains a meeting and a subscription). In this case, the kit can have the General product type while its component parts (the meeting and the subscription) may have different product types (Meeting and Publication, respectively).
   • Product Groupings should typically have the General Product Type.
     
     
5. Click the Assembly tab.
6. Select the Use Assembly Inventory option.
7. Select a Kit Type from the drop-down list.
   • The available kit types correspond to the records in the Product Kit Types service. See About the Product Kit Types Form for more information.
   • The standard options include:
   1. • Standard Product: This option corresponds to a standard product that is not a kit or group of other products. The Kit Type is set to Standard Product when the Use Assembly Inventory option is not selected.
      • Kit Product: When selected, the system identifies the product as an assembled kit comprised of the products specified in the sub-product list. This enables the inventory for the products in the kit to decrease as the kits are purchased.
      • Product Grouping: When selected, the system identifies the product as a grouping of the products specified in the sub-product list.
        
        
        
        
8. Specify the products to include in the kit or grouping. Follow these steps: 
   • Click the New icon in the toolbar to open a new Parts sub-type record.
   • Enter the name of a product to include in the kit in the Sub-Product field.
     
     

   Note
   A kit must consist of stand-alone sub-products only. In other words, a kit cannot include another kit or a product group as a sub-product. A product group can contains kits or other product groups.

    

   • Enter the number of the units of this product that that will be included in the sale of one kit or group in the Quantity.
   • Complete the % of Revenue field. This field is only applicable for kit products.
   1. • This field specifies the the percentage of revenue from the sale of the kit product to apply to this sub-product.
      • The percentages of all of the sub-products should add up to 100.
      • When a user ships an order that contains the kit product, Aptify calculates each component's percentage of the kit's revenue and credits the appropriate General Ledger (GL) Sales account for each component based on that -percentage.
      • For example, if a $500 kit includes a monthly newsletter subscription (50%) and a Widget (50%), $250 of the revenue is applied to the subscription product and $250 is applied to the widget. In this case, Aptify also generates the necessary general ledger ( GL ) entries associated with each particular product (the widget's Sales account is credited when the order is shipped but the subscription's share of the revenue is credited to Deferred Income).
      • If you want to recognize sales at the kit level rather than at the individual sub-product level, leave the % of Revenue as 0 for each sub-product. In this case, the system credits the kit product's Sales account rather than the Sales account(s) for the individual sub-products.
      • Note that for Accounts Receivable (A/R) GL entries, the system uses the kit's Accounts Receivable A/R account rather than each individual component's A/R account.
   • Enter any additional information in the Comments field. 
     
     
   • Select OK to save the Parts record and return to the Products record.
   • Add additional sub-products, as necessary.
     
     
     
     
9. For kit products, add prices for the kit. See Assigning Product Prices for details.
   • The system uses the prices specified at the kit level instead of the prices for each product added to the kit. This allows the order entry system to offer a discounted price for all the products when purchasing the kit product.
   • Note that a Product Grouping does not require prices. When a user adds a product group to an order, the system automatically adds the group items to the order and determines the price to charge based on each individual item's product prices.
     
     
10. Click the Accounting > GL Accounts sub-tab and modify any GL account information, as necessary.
    • For Kit Products, you must specify a Sales account to save the record, even though the system credits revenue to each of the sub-product's respective Sales accounts, based on the % of Revenue for a particular sub-product. Likewise, the system debits a sub-product's Discount account if a discount is applied to the kit's price. Note that if you do not specify an Accounts Receivable (A/R) account at the kit level, then the system will use the default A/R account for kit-related transactions (as opposed to any A/R accounts specified at the sub-product level).
    • Keep in mind the following points when a Kit Product inherits GL Accounts from a linked Organization:
    1. • If an Organization has a default Sales account defined, a user can create new Kit Products linked to that Organization without having to specify a Sales account before saving the record.
       • If an Organization has an applicable A/R account defined, the system will use that A/R account for Kit Products linked to the Organization if one is not specified on the Kit's record.
          
    • You do not need to specify any GL Accounts for Product Groupings, since this information is not applicable to this type of product.
      
      
11. Configure any other fields on the Products record, as necessary. See Creating a Basic Products Record for more information.
12. Save and close the Products record.