Inventory management is the supervision of non-capitalized assets and stock items. A component of supply chain management, inventory management supervises the flow of goods from manufacturers to warehouses and from these facilities to point of sale.
Inventory or stock is the goods and materials that a business holds for the ultimate goal of resale. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods
Products | Items
A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price.
A quotation is the repetition of one expression as part of another one, particularly when the quoted expression is well-known or explicitly attributed by citation to its original source, and it is indicated by quotation marks.
Purchases is a business or organization attempting to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
Accounting is a formal business arrangement providing for regular dealings or services and involving the establishment and maintenance of an account
A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.Mainly focus on(Customers Reports,Suppliers Reports,Stock Reports)
The GST report prints a summary of the GST received and paid by you, broken down by the various tax codes, and is used to calculate your GST payment or refund. As such you must run it prior to making a return. The report is normally printed showing a list of transactions, providing a definitive reference as to how the GST was calculated.Mainly focus on(GSTR1,GSTR2A,GSTR3B)