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Discover the benefits of real-time inventory tracking for online retailers. Learn how real-time inventory tracking systems and software can enhance efficiency, reduce costs, and improve customer satisfaction.

Learn how to prepare for an inventory audit with comprehensive procedures and tips. Discover the importance of inventory audits, key steps in the audit process, and how NetDeposited can assist...

In the realm of inventory management, two key methods that businesses often use to manage their stock are First In, First Out (FIFO) and Last In, First Out (LIFO). These...

This is ABSOLUTLEY my favorite topic to talk about.  I am SUCH an advocate of accrual accounting.  My thought is that if you are spending the money for a professional...

At the end of the accounting cycle each month, conducting an inventory count is essential to adjust the records for accuracy. This helps in calculating the ending inventory, a critical...

An inventory system is a mechanism through which businesses track goods throughout different stages of production and sales. These systems provide essential data that help managers make purchasing decisions, optimize...

At the heart of revenue recognition is the principle that revenue should be recognized when it is earned, regardless of when the payment is received.

Typically, indirect expenses are not included in COGS. They should be clarified or possibly rephrased to prevent misunderstanding. For example: "COGS represents the direct costs associated with the production of...

Inventory accounting is a specialized area of finance that deals with the complex process of tracking and valuing inventory—a critical asset for many businesses. The intricate details involved in inventory...

One of the most difficult things to manage in a business is inventory, and many clients come to me expressing difficulty with managing inventory in QBO.  Thank goodness we are...

Cash vs Accrual accounting:  you might have heard these terms but what do they actually mean?  In this blog I attempt to explain the difference for folks that might not...

I know that sometimes accounting can be a boring topic, BUT at NetDeposited, we abide by GAAP rules with everything we do. In the intricate realm of accounting, Generally Accepted...