Wholesale business Bookkeeping

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Accounting

Wholesale business Bookkeeping

I’m still working with him. The client is selling electronic Items as a wholesaler. In the first discovery call, I found that the client was facing negative inventory issues despite using QuickBooks Software.

Causes and Effects

Data Entry and Timing Discrepancies:
  • Delays in recording inventory transactions.
  • Manual mistakes lead to inaccurate stock levels.
  • Unexplained stock loss and financial discrepancies.
  • Real-time inventory levels did not reflect actual stock.
  • Impact: Approximately 30-50% of negative inventory issues.

Software Integration and Setup Problems:

  • Data mismatches between QuickBooks & inventory systems.
  • Errors in units of measure or costing methods.

Training and Physical Count Inconsistencies:

  • Incorrect handling of inventory processes.
  • Discrepancies between physical counts and system records.
  • The team was not fully trained in managing inventory in QuickBooks.

HOW I HELPED

I was able to help the client improve their inventory accuracy by 96%, enhance operational efficiency, and boost customer satisfaction by reducing stockouts by 25%. This not only increased profitability but gave a true picture of Profit & Loss and Balance Sheet as well

Project Details

TESTIMONIAL

“You guys are the best bookkeepers I got from Upwork.”

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