Inventory Management
Inventory management is the control of ordering, storing and selling the goods you hold for sale. It sits inside supply chain management and inside your books, because inventory is one of the largest current assets a product business has.
Getting inventory under control
We start with an inventory master list: every item, its cost, and where it lives. From there we set up reporting so you can see what is moving, what is sitting, and what the stock on hand is worth.
We run or verify physical counts and cycle counts, including on-site verification, so the quantity in the system matches the quantity on the shelf.
Valuation and process
Inventory valuation method affects your cost of goods sold and your profit. We explain the difference between FIFO (first in, first out) and LIFO (last in, first out) and help you choose the method that suits your business and your tax situation, in coordination with your CPA.
Where the process itself is the problem, we recommend changes to systems and procedures, and we support forecasting so you order with the season in mind.
Who this is for. A good fit for retailers, distributors, restaurants and manufacturers whose stock counts and books do not match.
Related services
Back Office Support
From records and filing to audit support and HR paperwork, we handle the administrative side so your team can focus on customers.
Software Consulting
We help you choose, set up and get more from accounting and ERP systems, including QuickBooks, NetSuite, Microsoft Dynamics and Sage.
Financial Reporting & Forecasting
We turn your transactions into clear monthly, quarterly and annual reports and forecasts, so you can plan spending and understand cash movement.
Ready to get your books in order?
Tell us about your business and where you need support. We will talk through the next step in a free consultation, with no pressure and no obligation.