Answer to Question #124349 in Accounting for Everlyn

Question

How does QuickBooks make it easier to maintain your inventory?
How easy is it to make adjustments to the inventory quantity?
Do you like being able to maintain non-inventory products?
How do you feel the whole aspect works?

Answer 1

a)The QuickBook inventory management software makes it easy to maintain inventory, through organizing the items of inventory according to categories and prices such that, inventory evaluation is made possible since it tracks any fluctuation in the costs of inventory. Additionally, the QuickBook also reports low stock level and generates the inventory report to facilitate decision making.

b)Making adjustments to the inventory quantity using the QuickBook is easy since, in case of any once a sale has been made, a decrease in inventory is reflected immediately and once purchase has been made, the increase is also reflected immediately.

c) Yes. maintenance of non-inventory products is important, since it is necessary in the computation of a company's financial statements such as, the statement of financial position.

d)It is much more convenient to manage a business away from the business location since it

However, software also can result to system failure when not properly used to suit the functions of the application.

References.

Kay, Donna. (2019).Computer Accounting With QuickBooks.19th edn. McGraw-Hill education.