Inventory Management

Building A Better System

In a manufacturing or retail business, auditing inventory will be the first pain point we uncover utilizing your Over purchasing product for your retail that’s dated or has perished. Inventory for production that is unusable due to branding changes or printed details that cannot be reused. Lack of proper warehouse management software. Poor inventory accounting practices and often personnel changes can lead to your cash being tied up in inventory.

More often than not, what we find, is that inventory issues become unwieldy and that ‘thing’ no one wants to take on because of the tedium is represents. That notwithstanding, this is where Protea shines. We’ll build a process of accounting for inventory and helping you hold your teams accountable for judicious buying, selling and utilization of hard goods that otherwise will be taking up space and tying up your cash.

No Stone Unturned

Creating a system to count bin by bin, sku by sku requires manpower, time and resources that are difficult to allocate if not already built into your monthly accounting processes. But, if you want to find what’s draining your cash, inventory is the first place to look. Manufacturers, wineries, retail, and pharma all need tight inventory management processes to maintain accounting integrity. Protea can work with your team to consolidate and reconcile purchase orders, emails from suppliers and invoices against your inventory reporting to find the opportunity to reduce overhead and optimize purchasing.

Optimize Purchasing

There can be too much of a good thing can be excessive. Over purchasing inventory that the sales team doesn’t move or labels for your bottles can cause fits for your balance sheet.

Inventory Reconcilliation

We’ll review all invoices for existing inventory and inventory in transit for discrepancies and fraud. Once an absolute level is defined for an inventory item, we’ll set thresholds to prevent inventory bloat.

Inventory Process Evaluation

We will evaluate your process for inventory management and KPIs – then set a plan in motion to maintain inventory accuracy and proper utilization/depletion of inventory in the warehouse.

Advantage, Our Customers

Our value can be felt instantaneously. Your books are organized, bills are paid on time and you always understand your cash flow. Actionable insights are being provided to you weekly. A clear financial strategy and execution plan by a trained financial professional. It’s a simple formula for success, driven by our audit trained accounting team based in the US and South Africa. The benefit to you – we work 24 hours a day; progress is always being made.

Request An Evaluation

If you are ready for real change in how you use your most valuable assets - time & money, fill out the form and an account manager will reach out to you right away.

Contact Protea Financial

What Receipts Does the IRS Require You to Keep?

by Zane Stevens | Sep 22, 2022 | Accounting, Bookkeeping, Bookkeeping Software, Business, Financial Services, Outsourced Accounting, Wine Industry

When you deduct business expenses on your income tax return, you can usually refer to your records to support the expense. However, you must keep...

Protea Conversations: Yuri Kapilovich

by Yuri Kapilovich | Sep 15, 2022 | Business, Protea Conversations

Protea Financial was founded in 2014 to provide high-quality outsourced accounting at an affordable price. Given Protea’s flexible work...

The Pros and Cons Of Bookkeeping in QuickBooks Online For Small Businesses

by Zane Stevens | Sep 8, 2022 | Accounting, Bookkeeping, Bookkeeping Software, Business, Financial Services, Outsourced Accounting, Wine Industry

Are you thinking of using QuickBooks Online to manage your business’s bookkeeping? If so, you’re not alone. In today’s fast-paced digital world, no...