Inventory Tracking
Inventory Tracking
Selling physical products? Inventory tracking isn't optional.
I'll set up and maintain your inventory so you always know what you have, what it costs, and what it's worth.
Inventory Levels
Real-time count of what's in stock.
Cost of Goods Sold (COGS)
Accurate COGS for every sale so your profits are right.
Inventory Value
What your inventory is worth on your balance sheet.
Reorder Points
Know when to reorder before you run out.
Product Performance
Which items sell fast and which sit on shelves.
- Set up inventory in QuickBooks with proper COGS tracking
- Record purchases and adjust inventory levels
- Track sales and reduce inventory automatically
- Perform inventory counts and reconcile to physical counts
- Adjust for shrinkage (damaged, lost, stolen items)
- Generate inventory reports (valuation, turnover, aging)
- Monitor profitability by product
Wrong inventory = Wrong profits
Your P&L is only accurate if COGS is right.
Balance sheet accuracy
Banks and investors look at inventory value.
Tax implications
Year-end inventory affects your tax bill.
Better purchasing decisions
Know what sells and what doesn't.
Avoid stock-outs
Never lose sales because you ran out.
✓ Retail stores
✓ E-commerce businesses
✓ Wholesalers and distributors
✓ Manufacturers
✓ Any business that sells physical products
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Rankin Bookkeeping - Professional bookkeeping services for accurate, reliable books.