Inventory accounting

Organization of tangible asset accounting

The task of paramount importance is warehouse accounting of inventory items. This is a special item for manufacturing enterprises, but even a small company without a warehouse cannot do without it. Stocks must be monitored. First of all, quantitatively, but also by parameters such as shelf life, grade, supplier name, target dates of modernization and repair, if it is for equipment and tools. Thanks to automation, with the help of Eqman, the location of the assets and the persons responsible for them can be recorded.

If the organization is imperfect, this will lead to mistakes, unreasonable expenses and shortages, resulting in the company’s unprofitability. Therefore, control is one of the primary tasks. It should not only be accurate, but also timely. Automation is a way to reduce the time spent on paperwork and improve the accuracy of accounting and issuing inventory items. In this case, employees will be engaged in carrying out their direct duties, instead of wasting it recording and searching for unaccounted items. t is also an opportunity to reduce your headcount. It will no longer be required to keep more people on the payroll than the process requires. And this means an additional saving for the business owner.

Problems with accounting and control of inventory items

Proper accounting of inventory items in your warehouse helps to avoid difficulties in the operation of the enterprise, plan costs and fulfil obligations to counterparties on time. What problems can companies face in the process:

Misgrading

Most often, this problem occurs due to the inattention of employees. When the acceptance is fast, the employee does not have time to fill out the documents, confuses the records or fails to notice them. Or, when issuing products, does not immediately record the required product or material. Also, the error happens due to incorrectly opened cards, confusion with the quantity when receiving and de-registering, confusion in the names. As a result, the total quantity adds up, but there is more of one type of product than according to the documents and less of the other. Automation helps to avoid this problem – when recording occurs by simply and quickly reading the marks, and employees do not record anything manually, the process becomes error-free and prompt.

Negative balance

This problem usually results from inventory or work errors. Also, in some cases, the documents simply have not yet reached the accounting department – this situation happens in firms where control and reporting are conducted on paper. If you record everything electronically, then synchronization is instant and there is no lost information.

Delay in documentation from suppliers

Sometimes warehouse accounting of inventory items is a difficult task not because of the fault of employees or the lack of workflow organization, but due to the failure of other parties of the transaction. Suppliers ship the goods, but do not provide the documents promptly. As a result, the company cannot write off a product that, according to the law, has not yet been delivered to the parish. It is also a huge problem for reconciliation – everything should be checked at once to file claims in case of non-compliance.

Inventory of inventory items

Inventory accounting in the warehouse includes scheduled and unscheduled inventories. This is a necessary measure to understand the actual situation, timely control of stocks and reasonable planning. We know how to make inventory accounting of inventory items efficient, prompt and accurate without unnecessary labor costs. Download Eqman. Try our application in free mode and see its benefits for yourself!