December 11, 2009, Newsletter Issue #227: Asset inventory and tracking

Tip of the Week

Asset inventory and tracking software can tie into your accounting system so you don't have to enter the same information into two different applications. You can track cost of goods sold to ensure that you are making a profit. You would typically buy items in one quantity and sell them separately if you're selling to consumers. Many times, an online store creates an item by bundling different items together in a package. Your asset inventory and tracking system can make sure you always have enough of all the individual parts to build up the items you are selling and can help you price things appropriately. Your inventory tracking should be able to show you how many individual items you have and how many bundled items you can create from your stock on hand.

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