The inventory is the prerequisite for a annual accounts. This refers to the physical inventory of assets. This involves physically counting, measuring and weighing the goods stored in the company.
Various methods can be used to carry out this inventory:
Inventory on the balance sheet date
All goods are physically counted, weighed or measured as at the balance sheet date.
Deviating closing date inventory
All inventories are physically determined in a specific period before or after the balance sheet date. However, a suitable recording system must ensure that the inventory can be correctly determined on the balance sheet date by means of an appropriate calculation.
Permanent inventory
The inventory of goods in the company is planned at various times in the business year physically recorded. A comparison is made with the records made. It must be guaranteed that each asset is recognised at least once a year. The decisive factor here is also that the Stock can be correctly determined as at the balance sheet date.
Inventory sampling
The value and quantity of assets is determined on the basis of valid statistical and/or mathematical methods in conjunction with random samples.
Versino Financial Suite
the Versino Financial Suite complements SAP Business One by helping to correctly transfer inventory results to financial accounting, display differences in a comprehensible manner and make the entire accounting inventory process transparent and audit-proof. It thus closes an important gap between operational inventory management and financial closing and ensures efficiency, accuracy and compliance.
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