All three videos are available on Vimeo
November 14, 2012 Part 1/3 Introduction to Inventory Parts
November 21, 2012 Part 2/3 Buy and Sell including retail cash register sales
November 28, 2012 Part 3/3 Adjust, Reconcile and Report
When it's time to report on the change from last year to the end of the next period, whether it's a month or a year, there's more than counting involved. It's necessary to record write-downs for loss in value, stolen, lost, or obsolete products.
In Part 1/3
we review how the inventory parts Items are set up, matching the Items to the Balance Sheet, Income and COGS. We look at the Inventory Centre, the Item LIst, types, hierarchy, order of hierarchy, as in what comes first, the size, style, color or type of product, list management, naming, merging and Units of Measure.
is about buying and selling inventory, including retail cash register sales
is about reconciliation, adjustments and reporting on inventory activities. We establish how to report on the continuity of inventory for GAAP and T2125 reporting purposes, using the formula of Opening + Purchases - Adjustments - Ending = WAC of goods sold + Adjustments = COGS. Not sure what that means? That means this series is for you.
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