Purchasing & Inventory as it applies to bookkeeping: Outsourcing solutions for Long Island and New York

The functions of purchasing and inventory can be part of your outsourced bookkeeping functions as these activities impact on your accounts and require verification, monitoring, and recording for your financial records.

These tasks suit outsourcing well as the functions are repetitious and monotonous but yet any oversight in performing the monitoring of purchasing & inventory can cause SERIOUS stoppages to your productions and/or sales.

The best way of avoiding any unnecessary downtime is to outsource these functions, thus ensuring continuous monitoring and conscientious performance of the tasks, providing you with accurate reports of stock while ensuring a smoother flow of operations.

Purchasing and inventory functions apply to bookkeeping in several ways.

Creating purchase orders under direction or entering manually prepared orders into the computer system

Once the decision to purchase has been made, the creation of purchase order is required.

Here, the essential elements are accuracy, detailed specification, and meticulous defining of all the technical requirements of the purchase as well as its terms of payment and method / schedule of delivery.

Outsourcing this function will ensure that your purchase orders never give cause for mistakes by the vendor in delivering exactly what you ordered and precisely the way you wanted it delivered.

Filing shipping and packing slips and other documents, verifying these against the purchase order and tracking what was received, and for how much

This function creates order once deliveries arrive. Documents are filed as they should to ensure these are in order for your bookkeeping and accounts.

Shipping and packing slips are carefully compared with the original purchase order to verify that the delivery complied with what you ordered.

The delivered goods are itemised and the price of each (and any additional charge) is checked carefully to ensure you received what you ordered at the price you bought it with.

Tracking how much inventory in stock and monitoring reordering requirements based on set stock margins

This function monitors the goods in stock, keeping you up to date with your inventory continually so you'll never again have to worry what's on the shelf and what's not.

If specific minimum stock quotas are set for different items of inventory, we will also keep track of these in order to inform you when more stock needs to be ordered to ensure seamless continuation of your production and/or sales while minimizing the investment in your stock.

Accurate performance of the tracking of inventory ensures your money is not standing on shelves unnecessarily while securing that the continuance of your production and/or sales is never obstructed by stock shortages.

Other bookkeeping-related tasks in purchasing and inventory

In addition, outsourced inventory tasking can include keeping track on when ordered deliveries are coming in, entering adjustments to the physical inventory as required (for instance after taking inventory) and creating and maintaining inventory lists.

While not earthshattering issues, the problems with purchasing and inventory can cause serious bottlenecks and outright stoppages for production if not handled in time.

And as these are not specifically interesting tasks or such that they impact directly on the customers' experience with your firm (except in case of stoppages due to lack of stock, wrong deliveries, etc.) then the outsourcing of these can bring a lot of additional power to your core activities simply by removing confusion.

It all adds up to creating ORDER for purchasing and inventory so that everything runs smoothly and you can concentrate on the more important issues in running your company.

Benefits of outsourcing purchasing and inventory functions to Bookkeepers Plus Inc.

Outsourcing your purchasing and inventory functions (as these pertain to the keeping and verifying of records and actions) will ensure you will be fully up to date with how much inventory you have continually.

You will automatically be advised when to order more so that you never run out of stock but optimize your investment in inventory so the average turnaround of stock is as short as possible, thus freeing up capital to other areas in your business activity.

The purchasing and inventory outsourcing service of Bookkeepers Plus will organize this area of your activities, allowing you to plan your production and sales far more accurately with added reliability of prediction.

Furthermore, you will know which items are selling and can thus modify your stock intake margins, increasing it on those items that sell better and decreasing your investment in inventory of those that don't.

This accuracy of monitoring of your purchasing and inventory will also ensure that your business deters or detect theft problems automatically.

Our outsourcing service for purchasing and inventory ensures you don't have to tie up cash in inventory unnecessarily, releasing funds for other uses by keeping the cashflow moving.

Additionally, you'll be able to know at a glance what you paid for items in the past, comparing these with present costs, being far more AWARE of costs and knowing which vendors are giving you the best deals on an item.

In fact, one could say that accurate monitoring of purchasing and inventory ensures you pay less taxes as you'll avoid keeping excess inventory which is counted as income.

Above all, the outsourcing service of Bookkeepers Plus on purchasing and inventory will ensure ORDER in your inventory, guaranteed to reduce downtime as you'll never have stoppages in production due to lack of parts, components, or raw materials.

And in sales, the monitoring of inventory and failsafe reminding on itemized reorders ensures that your company never sells an out-of-stock item or loses a sale because of not having items on stock.

The end product for you is uninterrupted efficiency of production / sales flows... and for your customer, it produces satisfaction as things go according to his/her expectations.

Problems solved by outsourcing Purcahsing & Inventory to Bookkeepers Plus Inc.
	No more sudden downtime stoppages of production from not having parts, components or raw materials on stock
	No more tying up of your capital in the stock unnecessarily as your inventory is constantly monitored item by item, comparing each to your specifications of usage, ordering new stock only when needed and in quantities that ensure a fast turnaround of inventory
	No more hassles, confusion, stoppages or selling out-of-stock items or losing a sale due to lack of stock
	Deter theft problems or catch the culprits quickly
	Fewer cash flow problems and you can optimize the use of capital in your business activity
	End to all guessing and "guesstimating"regarding inventory
	Vendors' deliveries are more timely and accurate and any price changes are avoided... never pay more for items than you need to by having comparisons of cost
Bookkeepers Plus outsourcing solutions

Contact Bookkeepers Plus Inc. to hear what we could do to organize your purchasing & inventory functions

Purchasing and inventory form just one part of our quality services which our back office outsourcing solutions offer businesses in Long Island and New York.

You can contact me directly or, if you're convinced that outsourcing might be the solution, use our quote form to receive an estimate of the cost and benefits of outsourcing your purchasing & inventrory functions over to us.

Finally, if you have a specific problem with inventory or purchases, why not give us a challenge and receive free advice on how we would solve the problem?

Thank you for your interest, and please remember we offer a free Outsourcing Report to business owners in Long Island and New York.

Best wishes,

Elizabeth Marasco, MBA
Bookkeepers Plus, Inc.
354 Neighborhood Rd
Mastic Beach
NY 11951
Phone: 631-949-5864
Fax: 631-207-8349
CONTACT FORM

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