How does the inventory systems work?


When dealing with inventory,one should be concerned about three issues: (1) the physical quantity of goods in stock and (2) the cost at which they valued,as well as (3) the proper billing of shipped goods.

How the inventory system tracks your inventory operations


Golden Inventory system will track all receiving and all shipping operations. Then, the system calculates an on hand quantity for each item in your warehouse as difference between received and shipped amounts.
QOH=RECEIVED - SHIPPED
. Therefore we should track all receiving and shipping operations and the inventory system will calculate actual on hand quantities for all items.What does it mean? When you receive goods in the warehouse you should enter items in the inventory system.Golden inventory uses for this the Item receipt form. When you send goods to customers you should enter all shipped items in the Invoice form. You can print all these documents and you'll be able to send invoices to customers or check accuracy of the inventory system.

Golden Inventory System

Next step

In the next step we will prepare our inventory system to work . we'll do a physical count of all items in warehouse and fill out the items list in the inventory
April, 21 2017

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