Inventory Management system forms an essential part of the Accounting and Costing. For Organization’s having large inventory, it is absolutely essential to set up a detailed Inventory process to help businesses track Inventory and the costs associated with it. The challenge faced by organization’s is being unable to tally the physical count with the system count due to the enormity and complexity of the Inventory that warehouses hold, thus resulting in a disparity in the Valuation of the Inventory held by Warehouses.
Preparing the initial inventory adjustments in NetSuite will largely depend on your current inventory management system and how well you can track your inventory quantities and valuations. Tvarana’s Inventory Count App is equipped with a work sheet that can be exported from NetSuite and real-time warehouse data can be incorporated into it which can be then imported into NetSuite. It’s a one-step process which then auto calculates the difference between the Physical count and the system count. The Variance on review, can be written off or adjusted in the Accounting process which provides a much cleaner approach to establishing inventory.
Our App provides a more distributed and organized approach to managing the Inventory assisting Businesses to account for Inventory held by them on an on-going basis. Users can create and segregate each item line batches based on lot numbers, serial items or bins depending on the item being accounted. Post adjustments are easier for lot numbered and serial items. The app reconciles the data with existing serial numbers in NetSuite and posts adjustments. It eliminates the need to correct data on an XL and reimport, all data corrections can be made in NetSuite and the app will post the adjustments. This SuiteApp is designed to save you time by providing a ready-built framework to perform real-time warehouse counts and keep track of your inventory count with regularity.
At Tvarana, it is our constant practice to create more value for our customers. Our Inventory count app helps customers complete inventory count in 2 days compared to 2 weeks using the standard process.