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This Simple Mistake Is DESTROYING Your Inventory 3 года назад


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This Simple Mistake Is DESTROYING Your Inventory

For More Information visit: https://www.laceupsolutions.com Questions or Inquiries: +1 (786) 437-4380 ********** When managing inventory you should keep an eye out for this bad practice that could destroy your inventory forever. I get phone calls all the time complaining about how no matter what the distributor does, their inventory on hand values are always wrong. To the point that they'll do a cycle count and a week later their inventory is inaccurate. After months of brainstorming, tests and research, I uncovered that the issue lies in how the distributor inputs cycle counts/adjustments into the accounting system. This process in particular had created a100k discrepancy in one of my distributor's balance sheet. In short, they had created a physical inventory count for the day in addition to multiple invoices, credits, and inventory transfers. These transactions were physically created in a sequence. When the distributor went to enter the inventory count into the accounting system, they entered it in the completely wrong sequence. For example: EXPECTED SEQUENCE Starting Inventory - 100 Bananas Invoices - 10 Bananas Sold Expected Bananas - 90 Inventory Count - 80 Bananas Counted In The Warehouse Inventory Adjustment = -10 Ending Inventory Value = 80 Actual Sequence Starting Inventory - 100 Bananas Inventory Count - 80 Bananas Counted In The Warehouse Inventory Adjustment = -20 Invoices - 10 Bananas Sold Ending Inventory Value = 70 ********** Follow Us on Social Media ! LinkedIn: http://bit.ly/2GL4hTy Instagram: http://bit.ly/2KVlyP8 Facebook: http://bit.ly/2KXA1Kg

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