Item Class is a function of the Inventory module of SalesPad Cloud. Item Class is a way to group like items together for visibility and reporting, and a way to make it easier to set up new items by rolling down class defaults. For example, when creating a new item, item valuation method, tax information, and accounts can be defaulted in based on the Item Class selected. Item Classes can also be mapped to a QuickBooks Online Account Classes, which are used on all financial transactions on items within each Item Class, resulting in more detailed reporting options within QuickBooks Online.
Note: We recommend having Track Classes enabled in QuickBooks Online so that SalesPad Cloud can pass along class information for financial/account class reporting in QuickBooks Online.
To get started, select Item Class from the Settings menu.
To create an Item Class, click the New Item Class button in the upper left-hand corner of the screen.
The Create Item Class drawer will appear. Fill out the information fields in this drawer.
For a brief explanation of the different information fields in the Item Class drawer, click here:
Item Class - Allows you to assign a name to the Item Class
Account Class - Designates the QBO parent account for the Item Class
Item Type - Indicates whether the Item Class is categorized as Inventory, Non Inventory, Service, or Other Charge
Serial Lot Type - Indicates whether the Item Class is categorized as Serial, Lot, or neither
Taxable - Determines whether or not the Item Class is taxable
Uofm Type - Indicates the default Unit of Measure for this Item Class (items within a Beverages Item Class might have Liters as the Uofm)
Selling Uofm - Indicates the Unit of Measure this Item Class is sold by (Beverages might be sold by the Pint)
Purch Uofm - Indicates the Unit of Measure this Item Class is purchased by (Beverages might be purchased by the Kiloliter)
Valuation Method - Allows you to choose between a FIFO, LIFO, Average, or Standard valuation method for this Item Class
Income Account - Indicates the QBO account that registers income for this Item Class
Expense Account - Indicates the QBO account that registers expenses for this Item Class
Asset Account - Indicates the asset account associated with this Item Class
Weight Uofm - Indicates the Unit of Measure with which is Item Class is weighed
When you've finished entering your information, click Save.
To edit an existing Item Class, first select the Item Class from the list on the left-hand side of the Item Class Screen.
Once you've selected the Item Class you want to edit, make your changes in the information fields on the right-hand side of the screen.
When you've finished making your changes, click Save.
To make an Item Class inactive, check the Inactive box in the upper right-hand corner.
Item Classes are assigned to Items in the New or Edit Item drawers.