Create Matrix Non-Inventory Item for Resale Without Specifying the COGS and Asset Accounts.

Creating matrix Non-Inventory Item for Resale using Matrix Item Assistant may display the error "You must specify asset and COGS account for this inventory item.". The error is displayed when default accounts do not exist for Income, COGS and Asset Accounts. The Assistant requires a COGS and Asset account to exist if Income is defined, which should not be the case with Non-Inventory for Resale.

To prevent this error, consider one of the following options:

• Define a default account for Income, COGS, and Asset at Setup > Accounting > Accounting Preferences > Items/Transactions tab.
• Use Create Matrix Items link instead of the Matrix Item Assistant.