There is an option available to track product/services or not. You can select it by going to General tab in settings. There is only two option – Yes and No.
|Track Product/Services||Do not Track Product/Services|
|More than 5 product/service
Track sales and purchase quantity
|Less than 5 product/service
Do not want to track sales and purchase quantity
Certain cases in which track product option should be used
- A trader selling multiple products and want to track purchase and sale quantities and also stock in hand.
- A person selling single service but want to track the quantity of service sold. For example, an accountant bills his customer on basis of the number of hours. If using inventory option he can track how many hours are devoted to each client.
Certain cases in which track product option is not required
- A trader who makes invoices manually in printed invoices. He doesn’t want to track sale and purchase quantities. He can enter sales directly into sales account and purchases into purchase account.
- A service provider providing consultancy services and doesn’t want to track the number of hours etc.
Impact of Option
When you are not using inventory option then there will be following changes in Refinebooks portal
- Product option will not be there on the left side menu.
- There will not be a place to enter products/services and quantity in sales invoice and purchase bill.
- Reports related to inventory are not available.
Switching between using inventory and not using inventory
If you are not using track product option at present then you can switch to using this option at any time. However, if you are using this option and now do not want to track product then it is allowed only when you had not entered any sales or purchase which contains any row in the Product table.