CSV Import of New Item Records > You must specify asset and COGS accounts for this inventory item.

COGS Account and Asset Account fields are mandatory when we are creating new Item Records. The error is being received when either one of the fields or both are missing.

Option 1:

1. Modify the CSV file and add columns for Asset Account and COGS Account.

Option 2:

1. On the Field Mapping page of the Import, map the Asset Account and COGS Account fields and click the small pencil icon to select a Default Value.

Option 3:

1. Navigate to Setup > Accounting > Accounting Preferences.

2. Click the Items/Transactions tab.

3. Select an account on the Default COGS Account and Default Asset Account fields.

4. Click Save.

You should be able to do the import after doing one of the options above.

Note that Option 2 and 3 are applicable only when you would like to set a Default account for all the items to be imported.