Unlock Financial Opportunities: Become an HII Sales Freelance Agent!
By GK_InsightsHub Introduction: Are you ready to embark on a rewarding journey…
Most businesses have assets, whether tangible or intangible.
And all these are recorded in the company’s financial statement including liabilities, expenses, revenue and practically everything that makes up the business.
From among the different kinds of assets, Inventory could probably be the most important.
It is a major asset in the balance sheet.
Too much inventory without proper inventory management can be a liability.
There are many things to consider like storage, risk of spoilage if you are in a consumables business, damage, and even pilferage and theft.
However, inadequate inventory is bad for business.
It will most likely result in disappointed, exasperated, and unhappy customers.
No stock here and no stock there is simply unacceptable.
So you see, there needs to be a balance between having too much inventory and too little inventory.
What is inventory?
It may be the act of listing or counting certain items but as an accounting term, inventory is first and foremost, products, stocks, goods or merchandise that a company is selling to potentially earn some profit.
Second, it can also be the raw materials needed to produce a valued product or perhaps the long-term assets used in the business like land, property, equipment as well as some copyright and trademark that the business owns.
While there are many ways to account for inventory aside from the manual pen and paper logging, the importance really lies in tracking correctly, analyzing accurately and managing your inventory seamlessly.
This is where inventory management comes in most perfectly and what better way to do it than with an online accounting software.
Most often, despite best efforts, inventory balance using the manual system never seems to be accurate.
It is hard to sell when you belatedly realize that you do not have the items in stock.
Perhaps you can score it a 5/10.
It is partially reliable and yet, you really need to put a stop to recurring problems such as this.
Competing against other businesses means you have to be at the very least at par with them.
With a smart, more superior and automated inventory management system, you can definitely up your game.
An online accounting software with features of inventory tracking and control can do just that!
If you can’t measure it, you can’t manage it.
Hence, it is imperative to take care of your inventory, treat it like gold because it will definitely give you the revenue that you need.
Like so many new technologies, going digital is the best solution.
An A1 inventory management system takes the place of all inventory processes taking human error out of the difficult task of tracking inventory.
Having one primarily informs companies in real-time where each and every product and SKUs are located.
Knowing this data helps management become more responsive, flexible, up-to-date and pre-emptive.
And these are more to know:
First find out what you need.
There is no one-size-fits-all kind of inventory system but there are at least some features that you may care to look into for any inventory management software you choose:
All you need to know is that there is EasyFS.
An easy fix to your mish-mash inventory.
EasyFS is a Software-as-a-service (SAAS) sales, inventory and Accounting system designed for Micro, Small and Medium (MSME) Enterprises.
Monitor your sales effectively, check your LIVE inventory quantity of stocks and most significantly , look after the welfare of your business and its financial health.
Contact us now at +63-32-256-2904 or +639088601619 for the free access.