Inventory Management

Strong controls here prevent material misstatements and support better decision-making. If your company has unique inventory challenges (e.g., perishable goods or multi-location), these tasks can be more specialized!

Ways we can help

Review incoming shipments: Verify quantities against purchase orders, and record receipts.

Update inventory records for sales, returns, or adjustments.

Review stock levels and generate reorder alerts for low inventory.

Manage inventory costs and prices in ERP.

Manage cycle counts (partial inventory audits on high-value or fast-moving items).

Integrate inventory data into add-on applications such as Square or Shopify.

Analyze sales data to identify slow-moving or obsolete stock.

Update safety stock and reorder points based on recent trends.

Set-up and organize warehouse storage and tracking (e.g., bin locations, labeling).

Calculate inventory valuation for financial reporting.

Generate reports: Turnover ratios, ABC analysis (categorizing items by value), aging reports.

Reconcile inventory sub-ledgers to the general ledger during month-end close.

Forecast demand based on historical data and seasonal trends.

Audit for discrepancies, theft, or damage and make adjustments.

Integrate with purchasing and sales systems to automate processes.