Inventory Accounting Singapore

If you don't know what you have in the warehouse, who else will know?

- Accentuate Pte Ltd

Inventory Accounting can be a pain for most companies. To maintain a clean updated record of your stocks can be a nightmare. Every product is of different cost, every shipment may differ from one another.

Lets not forget that there will always be shipping fees as well as insurance to factor in. While some companies keep it simple by costing them into expenses. There might be a real need for your business to calculate the real cost of your stocks per piece. Doing it for 10 products might seem ok. Imagine doing it for 1,000 SKUs. How about doing 20 transactions per SKU per day?

Use our Inventory Accounting Module to make your life easier!

Part Of ERP Package

Find out more on our ERP Software.

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Features and Functions

Fully Integrated with Sales & Purchase Module

Unlike most of the other software that are out there in the market, Accentuate Accounting Module is fully integrated with the rest of the other modules in the system. What that means is that most of the basic journal entries are already automatically done for you!

Not just that, if you are using our Purchase Module, it will trigger receiving Delivery Orders [DOs]. As you validate these DOs, automated entries will be done for you too!

Debit Inventory
Credit GRNI

This allows you to keep your inventory valuation without breaking a sweat. Now, when you deliver goods to your clients below are the entries the system will make for you:

Credit Inventory
Debit GDNI

Can you see how convenient and time saving this is for you? If you are a small SME that has a requirement to keep track of your inventory valuation, why not try this out instead of hiring a big team of accountants. This will be far more cost saving!

Inventory Valuation

You need to have this at your finger tips. After being in business for a while, you most likely will be stocking up some goods. This is money. All business owners have clarity of their bank accounts; When and where money is being spent.

If inventory is money, why should it be any different from our bank accounts? Shouldn't we know when and where inventory is being pulled out or restocked?

Use our software today! Have inventory information at your fingertips starting today!

Insurance Claims

We cannot guarantee that your insurer will definitely take our software data as evidence.

However, in the event of a fire or disaster, if you have no data on your inventory and valuation at all, then I am very certain that you will have a very tough time making an insurance claim. Lets not leave this to luck. Start keeping stock now!

Outsourced Accounting?

If you are looking to outsource your accounting work?
Please talk to us to find out more.

Landed Cost & Insurance Cost

To get an accurate cost to each piece of inventory sold, some companies choose to average out their shipping cost into each product. This will give you high accuracy.

However, many companies shy from this due to the tremendous amount of administration required.

Allow our software to do all the heavy lifting for you. Keep it accurate!

Inventory Adjustment

From point to point, stock taking is a standard practice in every company. It is to keep track of inventory whereabouts. At the same time, this is to make inventory valuation adjustments to the book.

It is not uncommon to have missing items here and there. This is where the accounting needs to update Inventory Valuation. If you have 1,000 SKUs, you will probably have a few sleepless nights. Some companies even freeze sales during stock taking periods. This will double up the stress levels of accountants who are doing those entries. If you don't have a proper software system, you will find yourself laboring through these entries.

Our system combines both stock taking and inventory account adjustments together. So, as you do your stock taking, at the back, the system is doing the journal entries automatically.

Average & FIFO Cost

This is probably nothing new to many of us. Yes, our system is able to do Average Costing & FIFO Costing.

Needs Tax Configuration?

Not all of us are from Singapore. You may require some form of configurations to be done for your country or state. Do drop us a message and we will see how we may further assist you.