Free Accounting Software Inventory Features

With all of the  inventory management functionality programmed into Free Accounting software, It might be possible that it should be called Small Business Inventory Management Software instead of Free Accounting! As a business owner or manager you know how complex managing inventory can be and you know how important inventory management is.  Proper Inventory Management is the key to running a successful business.  The built in inventory management functionality in Free Accounting is perfect for managing most small business Inventory software needs. The inventory software functions are intuitive and robust. You can select from FIFO, LIFO and AVERAGE cost inventory costing methods.  Free Accounting software will automatically track and calculate the cost of each item keeping your books in balance.

If your business deals in purchasing and selling physical and non-physical inventory then Free Accounting Software's Inventory Management  functionality may be a perfect small business inventory software solution for you. Free Accounting Software's Inventory Management  features are scaled to accommodate the most common small business inventory needs. We know that proper management of inventory is the life, or death, of a small business. Free Accounting Software takes inventory software management seriously.

Inventory Product Groups for small business inventory

The inventory management functionality starts with the ability to define and nest product groups. Properly defining your inventory items relationships in your Inventory Management Software allows you to better track and control related inventory items. Free Accounting Software's Inventory Management  product groups allow you to easily categorize your inventory according to your needs. In Free Accounting Software's inventory groups can be nested as many levels deep as you require. The following example shows how you could easily soft and classify inventory items using FA Small Business Inventory Software, that would fall under the category of BAG:

Without getting into all of the considerations surrounding stocking, sales and classifications of bags you can easily see that Free Accounting Software's Inventory Management  has the ability to sort items based on their inventory classification and that classification can vary by inventory product group in Free Accounting Software. The subclass for one inventory class, like paper bags, is different than the inventory sub classification of plastic bags. Free Accounting Software's Inventory Management functions allow you to define the inventory classes as many levels deep as you require. Irregardless of how many levels you define in Free Accounting Software you would still, at the primary level, consider the items in both inventory classes as belonging to the primary inventory classification bags.

Custom Inventory Fieldsin small business inventory

We realize that every business is unique. With Free Accounting Software's Inventory Management we provide you the ability to create custom fields. Custom fields for your inventory can be extremely powerful. Inventory items contain many characteristics that software developers may not be aware of. If your inventory has special requirements Free Accounting Software's Inventory Management features allow you to create additional fields to store the information you need for your inventory items. In future versions of FA Small Business Inventory Software you will also be able to display these values in your items lists and use them on Free Accounting Software's Inventory Management reports. This will put a lot of power behind Free Accounting Software's Inventory Management functionality.

Inventory Units of Measurefor small business inventory

Many inventory items require multiple units of measure. With Free Accounting Software's Inventory Management functions you can define as many units of measure required and define the relationships of those units of measure by inventory item. In addition you can define purchase, sell and stock units of measure in Free Accounting Software. With these specific inventory units of measure you can be sure that stock will be pulled correctly and inventory sales and purchases will be handled correctly in right units of measure every time. This is just another way that Free Accounting Software's Inventory Management functionality makes your inventory management and tracking easier. One customer can buy product by the CASE in Free Accounting Software while another customer can purchase the same item by the EACH, and Free Accounting Software's invoices and purchase orders can reflect the desired unit of measure.

Inventory Accounts for small business inventory

Free Accounting Software's Inventory Management allows you to define your inventory COGS (Cost of Goods Sold) Sales Income and Inventory Asset account for each inventory item. Using this capability you can control account entries by product line using Free Accounting Software.

Inventory Descriptionsfor small business inventory

Free Accounting Software's Inventory Management features give you the flexibility to define standard, purchasing and sales descriptions for your items. This way your purchase orders, invoices, sales orders and reports from Free Accounting Software will always provide the data you want to display

Inventory Control Journalfor small business inventory

Free Accounting Software's Inventory Management features include and Inventory Control Journal that records the proper entries for each inventory transaction. You can easily drill into inventory movement by date, item purchase, sale with Free Accounting Software's Inventory Control Journal. Every transaction in or out of your inventory is flawlessly maintained with the correct cost posted next to each entry. Within seconds you can see all inventory movement and cost for every item.

FIFO/LIFO/AVERAGE Inventory Cost Methodsfor small business inventory

Free Accounting Software's Inventory Management can be configured for FIFO, LIFO or AVERAGE inventory cost. The inventory system uses AVERAGE, FIFO or LIFO yielding you one of the most accurate inventory cost analysis systems available. Many inventory management software systems that sell for thousands of dollars do not track inventory ins and outs and associated inventory costs as accurately as Free Accounting Software's Inventory Management.

Inventory Kit Itemsfor small business inventory

Free Accounting Software's Inventory Management functonality include the ability for users to make kit inventory items. Kit inventory can consist of components that are defined in your inventory. Assembly and build orders can be created for new inventory kits from your stock or non stock inventory items. The raw materials or components for these inventory items will be automatically extracted from your inventory and the appropriate inventory cost method will be used for the cost of the kit item. Kit items can be sold on to customers and your inventory quantities and kit item cost will be managed correctly by Free Accounting Software.