Updated: Sep 7, 2018
For businesses that deal in retail training, manufacturing and products, managing your inventory is critical as finances. A lot small to medium businesses face challenges such as managing excess stock, re-order levels, stock value.
Further to this, there is also difficulty in tracking goods nearing expiry, products that have gone into wastage, stock issued from one location to another,etc.
This is where RealBooks comes in : In RealBooks you can manage inventory operations with ease. Here are the major solutions that RealBooks offers:
Suppose you have some inventory items that have broken, spoilt or expired or needs to be written off, then you can make use of RealBooks inventory adjustment feature to handle all these
Re-order level Notification
In so many cases business owners run out of stock. In realbooks you can set re-order level and when the re-order level is near, the system will get triggered and send notification to the users to enable them make smart decision to order the items in advance before the run out of stock
Accurate Stock Valuation
Suppose you have over 10,000 stock items in multiple locations, knowing the asset value can be very difficult to track manually. Further to that, most softwares have one or two stock valuation methods only.
In RealBooks, the software offers business owners / financial accountant 3 options when it comes to stock valuation. You can either choose to use FIFO, LIFO and weighted average.
This flexibility in RealBooks allows you to set your preferred stock valuation method to get the most accurate financial reports as per your business requirements
RealBooks allows you to generate purchase orders to your suppliers and place orders for your inventory right from the software.
In RealBooks you can make electronic requisition from one location / branch to another. This requisition supports various approval levels and save you the time or manually sending requisition from one location / branch to the other.