Organize the products you sell into different Materials for your quotes and invoices.
Using this guide, you can:
Materials are defined in Accelo as items you may be invoicing the Client for. For example, you might have a vendor that you often purchase hard drives from at a cost of $10, and you commonly sell it to your Clients for $50. You can then define this Material with an appropriate cost, charge to the client, tax, and ledger code for you to place into your work.
Ideally, the idea is to have a defined set of materials for your staff to freely just plug into their billable work, and all these numbers will automatically do all the work. This helps minimize their time on overhead, so they can instead focus on doing the work they love.
This feature is designed to "hide away" general ledger or account codes as well as tax codes - so doing your client billing doesn't mean also becoming an accountant.
The Material Item list will also support importing from Xero and Quickbooks Online or Desktop, so if you're using one of those products for your inventory of items you'll be able to import them quickly and easily here. However, this isn’t a two-way process, Accelo won’t be able to push Materials created from Accelo over to the accounting system at this time.
To have a useful library of Materials for staff to use, it must first be created.
To create a Material:
Click the Module button, and choose Configuration.
Click the Materials & Services button and select Material List.
Click the Add New Material button near the top right.
The following options are available to you when creating a Material:
A: Title - This will be the name of your Material.
B: Code - This is the code you will use to look up your Material.
C: Description - This is the description of the Material and what it is.
D: Revenue Price - This is the Price you will be billing the Client/Contact.
E: Cost Price - This is the internal Cost of each Material. Your profit is determined by Revenue minus the Cost.
F: Account Code - Sometimes referred to as a Ledger Code, these are used for transactions to be categorized and summarized general codes. An account/ledger is a unique record for each type of asset, liability, equity, revenue and expense.
G: Tax Code - This is the default tax code applied to the Material.
H: Save Options - Choose to save your material, save and continue creating others, or cancel the creation of the Material.
Once done with the steps above, your Materials are now ready to be used! Which brings us to the next step.
Now that your Materials have been created, you might be wondering when it’s time to use them! They’re most useful when placed on top of templates or predefined work, but of course it’s a breeze to slip them into ad-hoc items as well.
Your Materials will primarily be used in four areas:
You can add a Material anywhere it is prompted by looking it up. For example, this is how easy it is to insert Materials into a Project Plan:
There is only one setting that can be changed for Materials: their name! If "Materials" does not sound like the right term for your company, and you would rather use "Items" or "Hardware", for example, you may wish to change this setting.
Navigate to Materials & Services under Configuration and select Settings.
Enter the singular and plural names you would prefer to use.
To export your full Materials list as an Excel document:
Click on the Materials icon on the left side of your screen.
This will open your Materials List. On the Materials List page, click on the Export button, then select As Excel.