Products are a way to refer to the costs and expenses of a project that may or may not be billed from the customer. Products can be fixed fees, items sold to a customer (e.g. ad space, blueprints, or computer cables), or services such as seminars or training.
It’s worthwhile to take a few minutes to consider what your company sells. Defining products and services will help you construct categories, templates and price lists prior to starting a sales case or project. Once established, this information is readily accessible for input and in turn, saves time, prevents pricing errors in billing and lends to reporting accuracy.
Products are divided into three product types. With the product types, we can define different kind of fixed fee invoicing, if we are invoicing actual physical products, external work or internal work. Product type options are Own work , Subcontracting and Products .
Products are used as a guide for adding products to sales cases and projects. Basic information about a product is provided which makes it faster, with less chance of errors, to add them.
To create a new product, go to Settings > Work time, travel expense & product registries > Products. Enter information about the product such as the code, category, unit, cost and price and Save.
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