answersLogoWhite

0

Acomputerized Sales and Inventory is a method performed through the use of computers.

User Avatar

Wiki User

12y ago

What else can I help you with?

Continue Learning about Accounting
Related Questions

What is a good inventory tracking system?

A good inventory tracking system should be computerized. You will get much more information with much less effort using a computerized system instead of tracking inventory manually. Good inventory tracking software should be user-friendly and easy to enter sales data. A good inventory tracking system will tell you what items you have in stock, when you need to order, and how much you have sold.


Do sales and cost of goods sold get recorded at the same time?

No. 1. If you do not have a computerized accounting system: Inventory manufactured or purchased for sale are first debited to "Inventory". When sold, you debit "bank, or accounts receivable" and credit "sales" At the end of the accounting period, which could be monthly or yearly, or anytime inbetween, usually after a physical inventory, you then reduce your inventory by crediting "Inventory" and charging the amount reduced to "Cost of Sales". 2. If you have a computerized accounting system: When you acquire the merchandise to be sold you debit it to a specific "card" in the program's memory of the "Inventory" account. When you sell it, you will debit "Bank or accounts receivable" and credit "Sales". In order to create your sales invoice, you will have to identify the "card" where the merchandise is posted. When you change accounting periods (a.i. May to June) the computerized accounting program will then process the sale by reducing the inventory and debiting "Cost of Sales" automatically.


Example soft copy of computerized inventory system of a bookstore?

newspaper


What is tha scope and limitations of sales and inventory system?

scope of sales system


Examples of Entity Relationship Diagram of sales and inventory system?

Date|| Sales ------------- Inventory *Amount ........... *Item


What are the disadvantages of manual systems in the stock recording of inventory?

Manual systems for recording stock inventory are more cumbersome than computerized systems for doing the same task. The manual system by its very nature is slow, when compared to a computerized system. Also, using a computerized system allows for instant and widespread communications to all relevant parties. A manual system has a slow "circulation".


What is prepetual inventory system?

The perpetual inventory system is a method of accounting of inventory that records the sale or purchase of inventory in near real time, through the usage of computerized point of sale and enterprise asset management systems. It provides a detailed view of inventory changes.


What is an inventory management about?

Inventory management concerns the control and flow of merchandise inventory. Usually computerized, inventory management keeps track of the amount of product on hand and the amount sold and it sometimes will automatically order more merchandise as needed. It is a way of optimizing sales.


What is meant by computer inventory management?

A computerized inventory system allows a business to catalog their inventory electronically, instead of keeping a cumbersome paper inventory system. This would be especially handy for a business that has multiple warehouses of inventory.


How does computerized management tie inventory control in with the sales or manufacturing department?

Whenever a sale is made or units of a product are consumed in the manufacturing process, the product is deleted from inventory and made part of a history file that can be reviewed manually or automatically


What theory that explain sales and inventory system?

hindi ko rin alam


What is computerized system?

A computerized system is a system that is automated. With computerized systems, businesses are able to increase their productivity and efficiency.