Accounting for inventories in stock plays a significant role in the business accounting of the enterprise. The reliability of the data periodically transmitted to accounting in the form of reports and objectivity in evaluating the profitability of the enterprise as a whole depend on its organization.
There are several options for organizing inventory accounting. These are varietal as well as batch methods. The algorithm for completing the relevant documentation depends on the choice of one or another option. In any case, inventory records are kept directly in kind. The basis is income or expenditure documents. All of them must be surrendered to the accountant in strictly established terms.
Varietal inventory
It assumes that all goods in the warehouse are stored for certain items (or grades). Any new arrival joins the existing ones. Responsible persons reflect all changes in specialized cards or magazines.
Partial accounting of goods and materials
Its difference from the first option is that any new receipt of objects is stored separately. Moreover, a special card is put on the newly received batch.
Accounting for goods and materials
There are two main options. Both of them are based on such a document as a turnover sheet. In the first case, cards are made for each individual name of the product , which allow for quantitative and total accounting. They reflect the receipt and consumption of materials based on the primary accounting documents, and also calculate the turnover for a certain period (month) and display the balances at the beginning of a new one. Then, in accordance with the available cards, turnover sheets are formed separately for each warehouse.
This is done monthly. In addition, the reconciliation of data reflected in the cards provided by warehouses and accounting is carried out. The second option involves the grouping of all documents by the available stock numbers, which serve as the basis for calculating the monthly results separately for income and expenditure. All information is entered in the revolving list.
Classification
It should be noted that all production stocks can be divided into main and auxiliary materials, raw materials, purchased semi-finished products, as well as returnable waste. Each of the above groups has its own subcategories and is entered into the nomenclature with a specific code. The first 3 digits in it determine the account number, the 4th and 5th digits are the group of goods, the rest reflect specific characteristics.
Assessment of goods and materials
This procedure, however, as well as the reflection of certain values on synthetic accounts, can be performed both at cost and at prices. Most often, the second option occurs. Accounting for goods and materials, accounting entries allow you to calculate the total cost of each batch. For this, it is necessary to establish the corresponding analytical marks in the program.
Write-off methods
The write-off can be carried out at the average cost or by the methods of FIFO, LIFO. The first option is most often found in practice. Goods and materials are written off during the reporting period at accounting prices, and at the end of the month, the shares of existing deviations from the actual cost are entered . The FIFO method is characterized by the cancellation of all goods at the price of the first installment, then at the second and so on. The last option is the opposite of the previous one. All materials are written off in reverse order until a total consumption of values is formed.