Inventory, bookkeeping and business success topics for makers.
Studying your discrepancies is a hugely important part of the stocktake process as it allows you to gain more knowledge about your production processes. Only with this knowledge in hand can you begin to make improvements to your process, your products and your bottom line.
The IRS and GAAP (Generally Accepted Accounting Principles) rules both state that you have the choice to either count your complete inventory on an annual basis once a year or maintain a perpetual (constantly counting) counting system. So, which method of tracking is generally best for a handmade business?
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