What is the FIFO method in Inventory? Definition and how to use it?
What is FIFO method? The FIFO inventory valuation method can be expanded as first in, first out. It is a technique to assign value to
Category: Business Management
What is Invoice Management System – Definition, Importance and Types
Invoice is a term which sounds so simpler, but businesses clearly know its huge significance. It’s a crucial financial document received by businesses and has
What are Inventory valuation methods and their importance?
Inventory valuation determines the total value of the inventory owned by the business during a particular period. The total value of the inventory depends on
What are the Types of Manufacturing Processes?
What is Manufacturing Process? Manufacturing process is a step-by-step procedure to convert raw materials into finished products with the help of machinery, labour, tools and
What is Inventory? Definition, types and benefits
What is Inventory? The inventory covers both the finished goods, the raw materials that are in the production process and the work-in-process(WIP) goods. The inventory
What is FSN analysis in Inventory Management?
What is FSN analysis? FSN analysis is an inventory classification method based on how quickly the stock items are consumed or sold. FSN stands for
How to post Old Stock Entries for Miscellaneous Issues/ Receipts
How to post Old Stock Entries for Miscellaneous Receipts Issue Summary : Even after running the account interface, there were no stock impacts for the
What is ABC Analysis in Inventory Management System?
Definition: The Full form of ABC Analysis is Always Better Control and it classifies Inventory items into A, B and C categories based on the
Importance of Audit Trail Feature for Business Accounting
Today, a number of trade companies have been looking to digitise through automating daily processes with advanced tools like ERP software. The tools offer extensive
10 Inventory Management Trends
Post-pandemic businesses have incurred losses due to supply chain disruptions, and poor inventory management due to the commotion at that time. Businesses have been looking