Segmented GL A/C Product wise

Question

Hi All,
I am using segmented GL a/c and say I have 40 products available to sell.
Now should I have 40 GL's multiplied my segments for my company?
Also I will need product wise sale for budgetting purpose.
Can anyone comment on this please.

Answer 1

Ajit,
Your using segmented GL account is a good first step. 
The 40 products that you sell.  Are they 40 types of Products (Item groups) OR  40 individual items.
If you are talking about 40 Item groups and would like to track Sales and Cost for each Item group, you have to do the following.
<b>First and most important</b> - Your Inventory GL should be set by Item Group
Decide on the segment you are going to use
Create individual codes within the segment for each Item Group
Decide on the Natural Account for Revenue and COGS and create them with each segment defined above.
Now you have a GL Account for each Item group and can setup Budgets.  If your Client wants to track Inventory by Item Group you can chose a natural account from Assets > Inventory and create individual Inventory Account for each Item group.
Example: 
Suppose your Item groups are Group A, Group B, Group C .....
You will have a Code within that segment for each group
Group A ............... 001
Group B ................002
Group B ................003
Your Revenue Accounts will look like
4xxxx-001
4xxxx-002
4xxxx-002
Your COGS Accounts will look like
5xxxx-001
5xxxx-002
5xxxx-002
Your Inventory Accounts will look like
1xxxx-001
1xxxx-002
1xxxx-002
Let me know if need further clarification
Suda