Inventory Management
If you sell products, WorkingPoint’s inventory management system makes your life a whole lot easier. WorkingPoint tracks the ins and outs of your inventory automatically as you perform other tasks, such as creating invoices and bills. Add inventory as you record your bills for items. Then, as you create an invoice, WorkingPoint shows you the quantity available to sell and automatically reduces your inventory when the invoice is completed.
Inventory is an important business asset, and it is vital to have an accurate picture and valuation of your inventory at any given moment. WorkingPoint manages your inventory, and automatically links it back to our double-entry bookkeeping system. WorkingPoint also tracks the cost of goods sold (COGS), since you may purchase or manufacture inventory items that will vary in cost over time. This is important data for monitoring margins and profitability. And, with WorkingPoint, you can make adjustments for breakage, spoilage, write-offs, etc., and we’ll adjust your books accordingly.
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