How to set Product Types and what each type is for

Owned by Daniel Gowen
Last updated: Dec 27, 2022 by Nicholas Cook
2 min read

This article is for anyone who needs to understand the different Product Types.

 

 

Our software will let you set product types to different items that you can then sell. Most will fall under the Regular classification but in case you need to know what each classification is for please read the descriptions below. Products will default to Regular so will not need to be changed unless they fall under the other types.

To set the Product Type :

  1. Open the Products module

  2. Select the product you want to edit and either double-click it or highlight it and click Manage.

  3. Click the Global Settings tab.

  4. Click the dropdown menu and select the Product Type you want to change it to.

  5. Click Save when finished.

 

The different Product Types and their uses are

  • Regular - These are standard physical products that can be sold,

  • Gratuity - Tips that have been collected and will need to be paid out.

  • Liability - These are things like gift cards or abandonment fees. With gift cards, you will later have that gift card get redeemed for products. Abandonment fees are often required to be turned in to the state.

  • Other Expense - This is a catchall for any expense. A common example would be a bad check fee product to record bad check fees in the POS.

  • Other Income - This is a catchall for any income that is not otherwise being recorded in the POS. A common example of this would be recording rebate checks into the POS.

  • Receivable - This represents where you are owed an amount for a prior product or service performed. A common example of this would be what customers owe you for products purchased and paid for on their House Accounts.