TUTORIAL 2B – ITEM MANAGEMENT
NetSuite – ERP Basics
Item Management
Tutorials
Related Video
Item Management
***Note the dates in the screenshot will differ from yours.
Replace all dates with [today’s date]***
Item Management Overview
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 1 – Create an Inventory Item
Note – Inventory Items can be purchased and held in a warehouse as an asset of the business before being
sold to a customer. Due to this, on the Accounting Subtab you need to specify a COGS Account, an Asset
Account, an Income Account, and a Tax Schedule.
1. In the Purchasing Manager role, select Inventory > Lists > Items > New and then click on
Inventory Item hyperlink.
2. Create an Inventory Item as follows.
3. Save.
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 2 – Create a Non-Inventory Item
Note – Non-Inventory Items for Resale can be purchased and sold but NOT held in a warehouse as an asset
of the business. Due to this, on the Accounting Subtab you need to specify an Income Account, Expense
Account, and a Tax Schedule.
1. Remaining in the Purchasing Manager role return to the Home Dashboard and then select Inventory >
Lists > Items > New and then click on Non-Inventory Item for Resale hyperlink.
2. Create a Non-Inventory Item for Resale as follows.
3. Save.
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 3 – Create a Service Item
Note – Service Items for Sale can only be sold. Due to this, on the Accounting Subtab you only need to
specify an Income Account and Tax Schedule.
1. Remaining in the Purchasing Manager role return to the Home Dashboard and then select Inventory >
Lists > Items > New and then click on Service Item for Sale hyperlink.
2. Create a Service Item for Sale as follows.
3. Save.
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 4 – Adjust Inventory
1. Using the Inventory Manager role select Inventory > Inventory > Adjust Inventory.
2. Adjust the Inventory Quantity as follows.
Training Inventory Item
3. Add and Save.
**Potential Error*** Training Inventory Item does not show in the items. Go back to Step 1 and make
sure you checked “include children” and then select save. To find the Item, search “Training Inventory
Item” in the search bar at the top of NetSuite.
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 5 – Transfer Inventory
1. Remaining in the Inventory Manager role select Inventory > Inventory > Transfer Inventory.
2. Transfer Inventory as follows.
Training Inventory Item
3. Add and Save.
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 6 – Run a Physical Inventory Worksheet Report
1. Remaining in the Inventory Manager role select Reports > Inventory/Items > Physical Inventory
Worksheet.
2. View Physical Inventory Worksheet as follows:
Select Refresh.
3. Click the On Hand Quantity for Inventory Item created in Tutorial 1. Click the Qty for Inventory Adjustment
to view Transaction Record. ***As we are running this as of today’s date the total quantity may differ.
However, you should still be able to see the training item we created in Exercise 1.***
TUTORIAL 2B – ITEM MANAGEMENT
Tutorial 7 – Review Key Performance Indicators & Reminders
Remaining in the Inventory Manager role return to the Home Dashboard and then review the Key
Performance Indicators (KPI).
This is the end of NetSuite Tutorial 2B. Upload the
completed Deliverable document to Canvas to
evidence your completion of this tutorial.