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  2. QuickBooks - Wikipedia

    en.wikipedia.org/wiki/QuickBooks

    QuickBooks is an accounting software package developed and marketed by Intuit.First introduced in 1992, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.

  3. Inventory - Wikipedia

    en.wikipedia.org/wiki/Inventory

    Inventory Turn is a financial accounting tool for evaluating inventory and it is not necessarily a management tool. Inventory management should be forward looking. The methodology applied is based on historical cost of goods sold. The ratio may not be able to reflect the usability of future production demand, as well as customer demand.

  4. Inventory valuation - Wikipedia

    en.wikipedia.org/wiki/Inventory_valuation

    Periodic: In the periodic inventory system, sales are recorded as they occur but the inventory is not updated. A physical inventory must be taken at the end of the year to determine the cost of goods; Regardless of what inventory accounting system is used, it is good practice to perform a physical inventory at least once a year.

  5. Fishbowl Inventory - Wikipedia

    en.wikipedia.org/wiki/Fishbowl_Inventory

    Boxstorm is a cloud-based inventory management software and mobile app created in 2017 by Fishbowl. [15] Boxstorm is intended for small businesses. [16] The free version of Boxstorm is called Boxstorm Forever Free. Fishbowl claims it is the first no-cost online inventory management software to integrate with QuickBooks Online. [17]

  6. FIFO and LIFO accounting - Wikipedia

    en.wikipedia.org/wiki/FIFO_and_LIFO_accounting

    "FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first (but this does not necessarily mean that the exact oldest physical object has been tracked and sold). In other words, the cost associated with the inventory that was purchased first is the cost expensed first.

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