The end of the year is fast approaching and with it the scramble to review and correct financial statements for tax filing.
This episode is part of an ongoing video series demonstrating tips, tricks, highlights, and features to help you get the most out of your Eagle Business Management Software. Today, Nathaniel explains how to use EBMS to establish your inventory count and adjust values.
Taking physical counts of inventory probably isn't on your list of favorite things to do. But keeping a close eye on the stock recorded in EBMS, vs. what is in your store or warehouse, enables product to flow smoothly from purchase to sale. To help make your task easier, we've compiled a few pointers. Watch this video to learn how to use EBMS to efficiently take year end counts and adjust values.
This video covers -
- The different inventory count methods
- The correct way to setup inventory count and chart of account classifications
- How to use the Adjust Counts utility in EBMS
- The steps to prepare for the inventory count including setting up batches, and preparing count reports
- A simple way to review inventory costs and counts while business goes on as usual
- The process EBMS uses to adjust inventory values based on past dates
If you find this helpful and you'd like to continue learning how to use EBMS to its fullest capabilities, be sure to subscribe to our email list, and you'll be notified when the next EBMS Insider Series video is published.