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May 19, 2006, Newsletter Issue #16: Using Inventory Management Software
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Tip of the Week
Fixed asset inventory management will be yet another facet of your accounting software needs. In many cases, your fixed assets will be warehoused, and you should consider incorporating a bar code and sky system if you have not already done so. This reduces instances of user error in counting and keeping track of existing inventory and the right accounting software module will incorporate your bar code data. All of this data should feed into your general ledger to give you a straight figure of what you have in house and what you may need to order, produce or buy in order to meet the needs of your business. Finally, if you ship or sell internationally, you wil need a software product that will incorporate exchange rates and currencies so you can calculate your production costs in an apples to apples comparison taking into account favorable or infavorable exchange rates and other international currency fluctuations.
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