Product

Products are items or services being purchased from vendors or sold to customers. To configure products, navigate to Finance - Maintenance - Products. You need Contract Full, Contract Read, Finance Full, or Finance Read to access this page. Note: Products are ledger specific, but the names need to be unique across all ledgers. If the same product appears in multiple ledgers, name them accordingly. Example: The General Ledger has a product called “Credit Card Convenience Fee”. The Summer ledger has a product called “Credit Card Convenience Fee - Summer”.

Name is the name for the product.

Category is the category for the product.

Active indicates if the product will appear as an option on invoices.

This product is sold to customers allows the product to be specified on AR invoices.

This product is purchased from vendors allows the product to be specified on AP invoice.
Description is a short description of the product.

Price is the default purchase or sales price for the product.

Is NSLP is used to designate that the product is for the National School Lunch Program. Note: This field is used by the “Lunch Counts by Date” and “Lunch Totals by Product Category” Finance dashboard widgets.

Revenue/Expense Account is the default account to specify on the invoice when the product is selected. Note: You can choose accounts besides revenue or expense. Typically the accounts would be revenue or expense.

Product Type determines how the product is used.

Default is used for most products.
Deposit is originally used for (Re) Enrollment Contract deposits. Note: There is no functional difference between Default and Deposit. Both allow specifying a Deposit amount in the left menu. The Deposit option is retained for backwards compatibility only. Use Default instead.
Discount is for Summer Camp and POS purchases.
Donation is for specifying online donations.
Fee (Fixed Amount) is used for fee products where a fixed amount is applied. Example: ECheck convenience fees are usually a fixed amount. Note: Permissible values for fees may be subject to state or local regulations.
Fee (Percentage) is used for fee products where a percentage is applied. Example: Credit Card convenience fees are usually a percentage. Note: Permissible rates for fees may be subject to state or local regulations. Example: late fees are usually a percentage.

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