Articles on: Finance

Managing Products

Managing Products


Build your product catalog to speed up invoice creation and maintain consistent pricing.


What are Products?


Products are items you sell - services, physical products, or digital goods. Creating a product catalog lets you:

  • Quick Invoice Creation: Select products instead of typing
  • Consistent Pricing: Same price every time
  • Product Management: Update prices in one place
  • Inventory Tracking: Track product usage (if enabled)


Creating a Product


Basic Information


  1. Go to Finance → Products
  2. Click "New Product" or "Add Product"
  3. Fill in required fields:
  • Name: Product or service name
  • Description: What the product includes
  • Price: Unit price


Optional Fields


SKU (Stock Keeping Unit):

  • Product identifier
  • Useful for inventory
  • Example: "SVC-001", "PROD-WEB"


Category:

  • Organize products
  • Examples: "Services", "Products", "Subscriptions"


Tax Settings:

  • Taxable: Subject to tax
  • Tax Rate: Tax percentage (if different from default)


Billing:

  • One-Time: Single payment
  • Recurring: Subscription/recurring billing
  • Frequency: Monthly, yearly, etc.


Product Types


Services


Services you provide:

  • Consulting Services: Hourly or project-based
  • Marketing Services: Campaign management
  • Development Services: Web development, etc.


Example:

  • Name: "Web Development Package"
  • Description: "Custom website development including design and development"
  • Price: $5,000.00


Physical Products


Tangible items you sell:

  • Products: Physical goods
  • Merchandise: Branded items
  • Equipment: Hardware, etc.


Example:

  • Name: "Software License"
  • Description: "Annual software license"
  • Price: $1,200.00


Digital Products


Digital goods:

  • Software: Licenses, subscriptions
  • Downloads: Digital files
  • Courses: Online training


Example:

  • Name: "Online Course Access"
  • Description: "12-month access to online training course"
  • Price: $299.00


Using Products in Invoices


Adding Products to Invoice


  1. Create Invoice: Go to Finance → Invoices → New Invoice
  2. Add Product: Click "Add Product" or "Add from Catalog"
  3. Select Product: Choose from your catalog
  4. Quantity: Enter quantity (defaults to 1)
  5. Price: Auto-fills, can override
  6. Product Added: Line item created automatically


Benefits


  • Faster: No typing product details
  • Accurate: Prices always correct
  • Consistent: Same description every time
  • Easy Updates: Change price in one place, affects future invoices


Organizing Products


Categories


Group related products:

  1. Create Categories: Organize by type
  2. Assign Products: Add products to categories
  3. Filter by Category: Find products quickly


Common Categories:

  • Services
  • Products
  • Subscriptions
  • Add-ons
  • Packages


Tags


Tag products for organization:

  • Industry: "Healthcare", "Technology"
  • Type: "Recurring", "One-Time"
  • Status: "Active", "Discontinued"


Editing Products


Update Product Information


  1. Go to Finance → Products
  2. Click product name
  3. Click "Edit"
  4. Make changes
  5. Save


Price Updates


Important: Price changes affect:

  • Future Invoices: New invoices use new price
  • Existing Invoices: Already-created invoices keep original price
  • Recurring Invoices: May update if configured to


Deactivating Products


Hide products without deleting:


  1. Open product
  2. Toggle "Active" to OFF
  3. Product hidden from catalog
  4. Can reactivate later


Use Cases:

  • Discontinued products
  • Seasonal items
  • Temporary unavailability


Deleting Products


Warning: Deleting removes product permanently:

  1. Open product
  2. Click "Delete"
  3. Confirm deletion
  4. Product removed


Note: Products used in invoices remain in invoice history but removed from catalog.


Importing Products


Import from CSV/Excel:


  1. Go to Finance → Products
  2. Click "Import"
  3. Select file
  4. Map columns:
  • Name
  • Description
  • Price
  • SKU (optional)
  1. Preview
  2. Import


Exporting Products


Export for backup:


  1. Go to Finance → Products
  2. Click "Export"
  3. Choose format (CSV, Excel)
  4. Download


Best Practices


  1. Create Catalog First: Set up products before invoicing
  2. Use Clear Names: Descriptive product names
  3. Add Descriptions: Explain what's included
  4. Set SKUs: Use consistent SKU format
  5. Organize: Use categories and tags
  6. Keep Updated: Update prices as needed
  7. Deactivate, Don't Delete: Hide unused products


Common Scenarios


Service-Based Business


Products:

  • "Hourly Consulting" - $150/hour
  • "Monthly Retainer" - $2,000/month
  • "Project Package" - $5,000 one-time


Product Sales


Products:

  • "Product A" - $99.00
  • "Product B" - $199.00
  • "Bundle Package" - $249.00


Subscription Business


Products:

  • "Basic Plan" - $29/month
  • "Pro Plan" - $99/month
  • "Enterprise Plan" - $299/month


Troubleshooting


Product not showing in invoice?

  • Verify product is active
  • Check product exists
  • Refresh page
  • Try searching


Price wrong in invoice?

  • Check product price
  • Verify invoice uses product (not custom item)
  • Update product price if needed
  • Existing invoices keep original price


Can't delete product?

  • Check if used in invoices
  • Remove from invoices first (or keep for history)
  • Deactivate instead of delete


For more help, see Common Issues.


Next Steps



Updated on: 13/03/2026

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