What inventory format will you need?
Tell us what format you will need to count your merchandise. Consider what the goals of the audit are, what type of data and information you need the inventory to provide and why you are taking it. Please give us a call if you are uncertain of your needs or see examples of each format under Sample Reports.
SKU ( stock keeping unit) , UPC ( universal product code) and NDC (national drug code) inventories provide itemized totals per brand and line item.The data capture requirements and results are more detailed and precise and can include the SKU/UPC number, quantity, retail /cost price, item location, department /category, serial#, style, manufacturer and other product fields. It helps with marketing, shrinkage , purchasing, customer usage & history, lead times, order points, product cycles and statistical information useful in managing a business. These inventories keep Point of sale, fixed asset and other inventory tracking system quantities and records updated and accurate. An itemized count is also needed in a baseline audit where a product inventory file has to be created from scratch. Owners making a transition from a traditional cash register to a more useful Point of sale system will need such a count to populate their new software w/ store inventory quantities. Its also helpful when a bulk transfer listing of the inventory is required.Since only a daily margin of error greater than 3% can distort POS analysis data and render it useless, inaccuracy can confuse and negatively affect your management decisions! Data entry by barcode scanning provides better accuracy than a manual entry count. Itemized inventories give you all the benefits received in a financial plus much more!
Financials are the simplest and least expensive format used to count your merchandise.These inventories are generally quick and the results immediate.The resulting totals are often used to determine cost of goods sold and gross profit margins. The inventory is categorized and counted by department, at retail and can be used to monitor shrinkage, maintain inventory control as well as provide ROI information and statistics. Financials are typically used by retail businesses for tax reporting, profit & loss calculations and change of ownership/management purposes. We compute and convert your retail totals to cost for no additional charge.
Home & personal property inventories & listings
These inventories help you to know how much insurance coverage to purchase in order to replace personal property items that have been lost or damaged in a fire, burglary or other tragic event. Its important to have accurate documentation to get your insurance claims settled fast and accurately. It can also substantiate losses for income tax returns. Schedule your next inventory with us and improve your bottom line & sense of security! Professional insured well-trained auditors with state of the art equipment are more accurate and proficient than inexperienced family members or employees. We offer you both a hardcopy report and softcopy electronic record of the inventory and store secure copies if needed in the future. We also provide asset photo & videography services which can help legitimize asset claims when you have little or no original documentation ie invoices, receipts, purchase orders etc...
Fixed & Capital asset inventories
This is an itemized count by barcode or manual entry of personal property to account for and reconcile physical assets with a business or agencies property and financial records. A thorough and accurate fixed asset audit can reduce your property tax burden, validate your fixed asset ledger and provide a clean audit opinion of your financial statements as required by law. In some cases 65% of corporate fixed asset data is incomplete or inaccurate and 10 to 30% of all recorded assets for a business or agency are no longer owned .