1. Type – Select whether your business sells a product or offer services
  2. Item Name – Enter the name of the item
  3. Description – Type description for the entered item
  4. Item Rate – Enter the item rate
  5. Unit of measurement – Unit of measure will be loaded based on the selected type
  6. Sales & purchase account – By default sales and purchase account will be selected. User can change the account to their needs
  7. Sales and purchase rates – Rate will be updated once the item was updated
  8. Tax – Tax can be linked to the item. So whenever this item was selected in the transactions then selected tax in item automatically update