Depending on the type of small business you have, a good management system should be able to keep track of product inventory. In a service-related business the system should be able to track service charges or labor sales. Since everything starts with invoicing, the product should be automatically deducted from inventory by part number or product code when an invoice is created. Some other considerations for inventory control by product code or part number is likely to include:

  • Ability to perform physical inventory counts
  • At least 12 months of sales history by month
  • Automatic deduction from perpetual inventory
  • Bin locations
  • Create stock orders with stocking levels and reorder points
  • Post receipts
  • Product fields like pricing, descriptions, etc…
  • Track special orders

You’ll also need features like these:

  • Accounts Receivables
  • Cash
  • Cost-of-Sales
  • Freight
  • Inventory
  • Sales
  • Sales Taxes

There may be other considerations that may be unique to a particular business. One of the most important aspects of a business accounting software system is to find an all-encompassing system. Find a system with a minimal amount of human interaction that allows password security protection by function.

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