Bookkeeping Question

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MarkyMarkNC said:
What advantage do you get from tracking inventory? Neither the IRS nor GAAP require service companies to do so. Buy material - enter it into cost of goods sold - done.
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Advantage of tracking inventorty? For one, it may save us a 50 mile trip for a part if we know we should have one in G3. Office help may not know if it is a dodad or dadod but she knows where G3 is. I don't sign or see all our billings. Practicaly none of them, but we do keep track of the pricing we get from our suppliers. We know who has the better pvc pricing and we can find where we bought that gray thing we sold to whats his bucket on the corner by the old cemetary. It takes a lot of time, rarely is it just for the IRS. Mostly just for me.
 
Thanks to all who responded. It's as clear as mud now!:lol:
I'm weighing my options on which way to go.
But really, thanks!!!!!!!!!!!!
 
I take it back. Use the napkin pencil method.

I spent 3 hours yesterday working on computer problems, 2hrs of it on the phone with QB support. Main office computer and/or UPS decided to quit right in the middle of everything. We could not access the QB data.

On a side note don't ask Dell for a custom configured Desktop. 6 week wait time is starting to get old. In the mean time the above mentioned computer has gone toes up twice.:rant:
 
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