How to manage inventory: FIFO, LIFO, AVCO | Small Business Guides

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How to manage inventory: FIFO, LIFO, AVCO | Small Business Guides | Xero

Рет қаралды 38,562

Xero Accounting Software

Күн бұрын

Пікірлер: 23

@antoinycemathis 7 ай бұрын

I've been a CPA for almost 10 years, and I can say these videos are informative, helpful, and engaging!! Great tips for accountants and non, alike!

@letsdatecrate4941 3 жыл бұрын

She is one of the very few people who are able to make accounting seem interesting. V. helpful - thanks!

@EmKay_RealEstate 2 жыл бұрын

I like the way you talk always with a smile. Makes me smile while learning as well.

@flynriderr 4 жыл бұрын

This video is definately underrated

@gavp1336 3 жыл бұрын

Can Xero be integrated with a perpetual inventory system and automatically make entries into the accounting system whenever movements in inventory take place?

@jaytschramek 3 жыл бұрын

I really appreciated this information!

@KilloughShootingSportsWinters 3 жыл бұрын

But doesn''t Xero only do average cost? LIFO and FIFO are not an option

@xero 3 жыл бұрын

Correct. Xero just does AvCo. This video is general in nature to introduce these concepts and not about Xero itself. We do recommend using an add-on inventory app for some businesses depending on their requirements > central.xero.com/s/article/Options-for-managing-inventory-in-Xero -OG

@rochedaleminimart Жыл бұрын

Please guide in Xero accounting how to change inventory methods from average methods to LIFO methods

@xero Жыл бұрын

Xero only does average cost, so if you'd like to use another method like LIFO, you need to use one of our apps > central.xero.com/s/article/Options-for-managing-inventory-in-Xero -OG

@orcusorcusy8581 Жыл бұрын

click bait. Did not explain how Xero can be used for first-in-first-out (FIFO), last-in-first-out (LIFO), and average cost (AVCO) methods

@SanjayShantiSubedi 3 жыл бұрын

Is this service free with Xero with Accounting software or should we need to pay extra for its subscription on top of the Accounting software?

@BlessGodMinistry 3 жыл бұрын

Thanks for the help really appreicate it God bless you

@DigiDriftZone 4 жыл бұрын

This is really great but which perpetual inventory management systems automatically feed into Xero?

@xero 4 жыл бұрын

Hey, thanks for watching this video :) Here are all the inventory management apps that plug into Xero > apps.xero.com/function/inventory Take a look through and see what might suit your business and plug into other apps you might have. -OG

@dis_chen1955 4 жыл бұрын

Question what if my product is perishable?

@xero 4 жыл бұрын

Hi, your accountant will be able to advise which method of accounting for inventory is best in the case of perishables. Once you have that determined you can use Xero (or full inventory app) to enter cost of item and sale price of item and the count > www.xero.com/features-and-tools/accounting-software/inventory/?escape=true -OG