NetSuite provides various item types to fit different business needs. Availability of specific item types depends on the features enabled in your NetSuite account.
Inventory Items
Inventory items represent products tracked in inventory. They can be bought, sold, or used in assemblies. Each inventory item has an associated inventory asset account for tracking inventory value.
If you need to track groups of inventory, create a Lot Numbered item. For tracking individual items, use Serialized inventory items.
Lot Numbered Inventory Items
Lot numbered items allow grouping inventory under specific lot numbers. Each inventory addition requires assigning a lot number, which can be entered manually or auto-generated by NetSuite. Removing inventory requires specifying the relevant lot number.
Serialized Inventory Items
Serialized items require assigning unique serial numbers for each item. Every inventory transaction (adding or removing) must include a unique serial number. Serial numbers cannot be duplicated.
Assembly Items
Assembly items are products built from other components. While you can purchase or adjust inventory for assembly items, typically they are manufactured using transactions such as:
- Work Order
- Assembly Build
- Work Order Close
When creating a work order, you can select a specific Bill of Materials (BOM). See Implementation: Advanced Bill of Materials for details (requires Advanced BOM feature enabled).
Assembly items can also be lot numbered or serialized.
Kits/Package Items
Kits or package items group multiple individual items for sale at a single price. Individual items in the kit are still tracked separately. Upon creating and fulfilling a sales order for a kit/package, you select which individual items are shipped.
Item Groups
Item groups bundle multiple items for easy transaction entry. Selecting an item group in a transaction automatically adds the grouped items. Item groups do not have separate pricing, accounting, or inventory tracking.
Example: A “shipping” item and “Item 1” can form an item group. Selecting the group in a sales order automatically includes both items on the order.
Assembly vs Kit/Package vs Item Group
| Assembly | Kit/Package | Item Group | |
|---|---|---|---|
| Price | Yes | Yes | No |
| Inventory Tracked? | Yes | No | No |
| Individual items visible in transactions | No | Maybe1 | Yes |
| Purchase Order Possible | Yes | No | Yes2 |
| Produced via Work Order | Yes | No | No |
| Visible in Sales Reports | Yes | Yes | No |
Discount and Markup Items
Discount or markup items adjust transaction prices. When creating these items, specify either a fixed amount or a percentage. Adding a discount or markup item applies this amount or percentage to transactions.
Non-Inventory Items
Non-inventory items represent products or services not tracked as inventory. They have three subtypes:
- Non-Inventory Item for Purchase
- Non-Inventory Item for Sale
- Non-Inventory Item for Resale
Availability of these items depends on the selected subtype.
Service Items
Service items represent services sold or purchased. They typically use units like time or “each.” Employees can select service items when entering time records. These items can be available for sale, purchase, or both.