CheckMark Knowledge Base CheckMark Knowledge Base

  • PRODUCTS
    • SOFTWARE
      • CheckMark Payroll
      • CheckMark MultiLedger
      • CheckMark 1099
      • CheckMark 1095
    • PAPER PRODUCTS
      • Checks & Envelopes
      • Business Forms
      • Tax Forms
  • SERVICES
    • HR Services
    • Time & Attendance
  • STORE
    • Online Store Home
    • Software
    • Software Updates
    • Bundles
    • Checks & Envelopes
    • Business-Forms
    • Tax Forms
    • HR Support
  • MORE
    • ABOUT COMPANY
      • Our Story
      • Culture
      • Contact Us
    • PARTNER PROGRAMS
      • Consultant Program
      • Software Partner
      • Resellers Program
    • SUPPORT
      • Request Support
      • Knowledgebase
      • Blog
      • Tutorials
      • Find a Consultant
  • Sign In
    • My Account
    • Other
      • HR Services
      • Time & Attendance
  • Free Trial
Home / CheckMark MultiLedger, Initial Setup / How to Set Up Inventory or Service Items in MultiLedger

How to Set Up Inventory or Service Items in MultiLedger

setting up inventory or service items

Setting Up Items

Items can be classified as inventory or non-inventory (for service sales).

The steps for setting up items are as follows:

  1. Enter the name and information for each inventory item by following the instructions “Setting Up Items”
  2. Verify the items you set up by checking balances on an Inventory-current

The first step is described in Customer, Vendor & Item Setup. Step 2 is explained in the following section.

Verifying the Items Setup

After entering all your inventory items, you can use an Inventory- current report to verify the setup. The total On Hand Cost for all your items should equal the general ledger balance for the inventory account. The following procedure shows you how to check these values.

  1. Click Item Reports in the Command Center.
  2. Select Inventory-current radio button.                                                                                                                                                                             32

You do not need to select any inventory items from the items list. When no items are highlighted, all inventory items will be reported.

  1. Click View or Print.

After clicking View, a report window appears:

32 - B

  1. Verify that the report total equals the “Inventory” balance listed.

These two amounts should agree.

Note: Item reports are discussed in more detail in Customer, Vendor & Item Reports.

What to do if your inventory doesn’t balance

The following are some reasons that could cause your inventory not to balance with the Inventory ledger balance:

  • An incorrect starting inventory balance was entered.

Solution: Correct the inventory balance by editing the amount in Account Balances.

  • Incorrect values were entered for an inventory item.

Solution: Double check the values entered for an item on Item Setup.


Related Articles

How to set up a company with MultiLedger

How to Create a New Company File in MultiLedger

How to Set Up Basic Information in MultiLedger

How to Set Up the Chart of Accounts in MultiLedger

How to Set Up Posting Categories in MultiLedger

How to Set Up Ledger Account Balances in MultiLedger

How to Set Up Prior Outstanding Receivables in MultiLedger

How to Set Up Outstanding Payables in MultiLedger

 

Related

CheckMark MultiLedgerInitial Setup

Search the Knowledge Base

Browse by Topics

  • Getting Started
  • Initial Setup
  • Backing Up & Restoring
  • Multi-User
  • Setup Option
  • Customer, Vendor and Item Setup
  • Introduction to Transactions
  • Customer Transactions
  • Vendor Transactions
  • Other Activities
  • Integration with CheckMark Payroll
  • Customer, Vendor & Item Reports
  • Financial and Other Reports
  • Sample Chart of Accounts
  • AppleScript and Importing
  • Error Messages
  • Miscellaneous
accounting software

SOFTWARE

  • CheckMark Payroll
  • CheckMark MultiLedger
  • CheckMark 1099
  • CheckMark 1095

SERVICES

  • HR Services
  • Time & Attendance

PAPER PRODUCTS

  • Checks and Envelopes
  • Business Forms
  • Tax Forms

RESOURCES

  • Knowledge Base
  • Blog

ABOUT US

  • Our Story
  • Consultant Program
  • Software Partner
  • Resellers Program
  • Contact Us

CONTACT INFORMATION

  • 323 W Drake Rd, Ste. 100, Fort Collins, CO 80526
  • Tel: 970.225.0522
  • Fax: 970.225.0611
  • sales@checkmark.com

| | |

Terms of Service | Privacy Policy | Sitemap

Copyright © 2022 CheckMark, Inc.