Purchases & Inventory
Know the value of your assets
Assets
Your equipment, tools and motor vehicles are depreciable assets that we can itemise for tax benefits.
Inventory
We can record the value of stock that you’ve bought and stored to sell on to clients.
Improve Cash Flow
Our purchase and inventory services reveal where hidden cash could be tied up in out-of-date inventory.
Cost of Goods Sold
We can record the Cost of Goods (CGS) and ensure it is recorded correctly in your profit and loss.
Plan Ahead
With our asset and inventory assessment, you will know what your best product or service is so you don’t waste time and money on ones that don’t sell.
Work With Your Accountant
Your accountant will calculate depreciable assets and send us the figures to record for tax purposes.
How We Can Help
Even though equipment, tools, vehicles and stock provide value for your business, you still have to pay for them. Besides the initial purchase cost, depreciation, damage, being out of date, overstocking and storage means they can cost more the longer they sit around.
Our purchase and inventory services record the costs of your purchases. This is important for insurance, budgets, setting prices and selling your business. It’s also a great way of identifying which inventory is actually making you money.
Knowledgeable
We can correctly classify your purchases as either expenses or an asset.
Attention to
Detail
We provide a thorough record of the cost of your assets and stock.
Experts
We record your purchases and inventory correctly.
Training
We train your admin managers to record the costs of purchases and inventory into your accounting software.
Experienced
Our purchase and inventory services have assisted businesses for twenty years.
Exceptional
Value
Our comprehensive purchase and inventory services will provide an accurate record on how much you have spent.
FAQs
What is classified as an asset?
Equipment, tools and motor vehicles or any large monetary purchase.
What is classified as inventory?
Items that you have bought or manufactured to sell to clients are classed as inventory.
I run an ecommerce business that buys directly from third parties and on-sells to customers. Is this counted as inventory?
No. You must actually own something before it can be classified as inventory. Inventory is when you hold stock to on-sell to customers.
Do you give advice on what to do with old assets?
No. We calculate how much it is costing you to store it but you need to talk to your accountant about what to do with it.
