The methods for adding a product database and recording forward balances can be done in 2 methods as follows :

Method 1 : Adding directly to the program interface.

Step 1.1 : Go to the "Products" menu and select '+Add Product'

Step 1.2 : When you click the '+Add Product' button, a popup will appear.

In the 'Add New Product' page, you can select basic or advance option . If you choose the advance option, you will be able to enter the standard price information and accounting entry setting.

Product Information

Product Name : Fill in the product name.

Product Description : Provide a description of the product.

Barcode : Check and enter the barcode (if any). This will allow you to search for the product using the barcode in the future.

Unit : For example, crate, pack, piece, year. If there aren't the units you want, you can add them from here.

Product Image : If you want to add an image of the product/service, you can attach it. The image should be in square dimensions, and the file size can't exceed 5 MB.

If you choose the advance option, you can input the following additional information :

Standard Price Information

Standard Sale Price/Unit : The selling price per unit of the product.

Standard Purchase Price/Unit : The purchase price per unit of the product.

VAT rate : Select whether the product/service includes VAT at 7%, VAT at 0%, or Non-VAT

Accounting Entry Setting

Sales Account : You can select the required revenue account.

Purchase Account : In the case of purchasing or selling products, you can link it to various accounting accounts, such as finished goods or work-in-process.

Cost Calculation : Open this option if you want PEAK to automatically record the cost of goods sold (Dr. Cost of Goods Sold, Cr. Purchase Account that you select above).

Product Beginning : If there are carry-forward balances for the product inventory, you can add lot beginning. Once all information is entered, click 'Save' to save the data.

Method 2 : Adding by Import an Excel File

Step 2.1 : Click the 'Import Product' button.

Step 2.2 : Click" Download this form (.xlsx)." to get an excel file

Then, the excel file will be displayed. There is a description sheet to guide you in filling out the information.

Example for New PEAK template for import product file

Step 2.3 : After entering the information and saving the file, locate the file by either dragging and dropping it or clicking on the file 'Search' button. When you have selected the file, click the 'Confirm' button to proceed."