How to import a product list?

Software: MonwyWorks accounting software

When migrating from one accounting software to another, you have an option of manually entering the product into the new system or import the list if you have lots of products. Before import, do some housekeeping by removing those unwanted or duplicated products from the old system.

Import file

The import file (spreadsheet) needs to have essential information such as product code, product name, type, sales account, cost of goods sold account, inventory account, selling price, cost price, unit of measure for both selling and buying, and the conversion factor between the selling and buying unit.

The maximum number of character for MoneyWorks product code is 31. It should not have any space in between or after the product code; and if possible, no special characters or symbol.

The maximum number of character for the product name (the product description) is 255. Trim the text to prevent truncated product description imported.

Use ‘P’ if you are importing a product item type. You require to have the account code for sales, cost of goods sold, and inventory account. In my sample import file, 1100 is my account code for sales account and 2000 is for COGS.

Selling price is optional. You need to have a buy price if you intend to enter the opening balances. Enter the average unit cost into the buy price field. The system multiplies the buy price with the opening quantity entered to derive the valuation cost of the item.

Set up the unit of measure (UOM) for sell and buy, the UOM such as ea, pcs, roll, box, bot, etc., and also set the unit of conversion from buy to sell. For example, if both buy and sell unit are each (ea), then the Unit of Conversion is ‘1’. If one box (box) has ten pieces (pcs), then the conversion factor is 0.1 (1/10).

import map

Save the import file into a text format (txt) once completed and import it from the File menu, or you can copy and paste into the item list window, and an import wizard will pop up allows the user to map the fields accordingly.

importing

MoneyWorks will start importing the item when there is no error found.

imported

Do a stock take to record the stock on hand quantity. Use ‘Setup’ account for opening balance; it debits the inventory assets and credits the setup account.

That’s it! Your product has migrated.

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