Business owners know that inventory losses occur. Damage, spoilage, theft, obsolescence, defects and a number of other problems can crop up at any time. If you use cash accounting, you write down the ...

To be able to account for inventory write-off, you need to know basic accounting. If you are not keeping books and records on a general ledger that has journal entries, then your small business does ...

Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

Answer: I spent many years during my career arguing for cycle counting and losing to the financial folks who insisted on physical counts. Never mind that taking these inventories cost the company $100 ...

Denver-basedAmbrook announced the launch of Ambrook Inventory, an accounting-integrated inventory feature designed to help ...

Learning how to manage inventory efficiently is critical to any business that sells physical goods. From timely ordering of supplies to tracking and storage, any mistakes can directly impact your ...

A healthy inventory turnover ratio (ITR) shows you manage your inventory effectively. When products sell quickly, you free up cash to reinvest in your business growth. Smart inventory management also ...

The inventory turnover rate (ITR) is a key metric that measures how efficiently a company sells and replenishes its inventory over a specific period, typically a year. This ratio helps businesses ...