Hello Odoo. Does anyone here know what the Product Category in Product mean? When I click it it lists out " All/Expenses/POS/Saleable? Which do I choose? Thanks a ton
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The costing and inventory valuation methods are set on Product Category (so you might have some products that use FIFO, others that use standard costing).
You can also setup different Financial accounts for each Product Category so that they can be show separately in the Financial reports (P&L, Balance Sheet, etc.).
So it can be important!
Hey Chris thanks for reaching out. What is "G/L "?
Sorry, G/L is General Ledger. I revised my answer to try to make it clearer.
Hi,
From the word meaning itself you will get an idea of what is it for. Suppose if we have a lot of products in our inventory, there will be some products which will have some common feature, to group those we can use the Product categories.
Suppose we have Products Apple, Mango, Orange, Television, AC, Radio , etc, we can create two Product Categories as Electronic Appliances and Fruits and specify the product category to Product, so that we can easily understand which are the Fruits, Electronic Appliances etc.
If you need Further categories under the Fruits, Like Dry fruits, Nuts etc, you create categories for that and specify parent category as Fruits.
Thanks
Thanks for the answer. So it's up to you to create a category and it doesn't affect your number and tax right?
Category creation does not affect numbers and taxes. It helps you organize your documents in a neater way.
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If I set up Auto Inventory and Inventory valuation accounts on Parent Category, will it automatically apply to the child categories and no need to configure 1 by 1? I have Anglo-Saxon Accounting enabled.