Bookkeeping for Businesses: Inventory Management

Master your business management skills by exploring bookkeeping methods for inventory management. If you own a trading business, you need to know how to effectively keep track of your goods and merchandise. Keeping track of your stock properly will make your bookkeeping and accounting a much simpler process. All you need to do is make sure you have the right tools and you’re utilising the best systems. In this course, you will:

  • Learn about the periodic system used to record inventory
  • Explore the differences between variable costs and fixed costs
  • Learn how to work with profit and loss accounts and balance sheets
  • Discover stock coding methods and learn how to work with stock sheets
  • Find out how to record journal entries, using step-by-step examples
  • Learn how to close accounts and prepare for new accounting periods