• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Friday, February 3, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
business-woman-talking-on

How to Merge Your Accounting With Your Inventory

Thankfully, technology has changed the accounting world and made things easier for you and your company.

by California Business Journal Editorial Staff
A A
Share on FacebookShare on Twitter

As one of the only two certainties in this life, taxes should represent a priority for your business. In order to be able to meet your legal obligations and submit a comprehensive tax return on time, you’ll need to ensure your accounts are kept in immaculate condition throughout the calendar year. Thankfully, technology has changed the accounting world and made things easier for you and your company.

At the same time, bookkeeping should not be allowed to encroach on the day-to-day dealings of your business. For those working in the manufacturing industry, staying on top of your inventory is crucial to ensuring you have enough stock to meet orders and knowing when to order in more raw materials to replenish your supplies. A bill of materials is instrumental to this latter point.

But how can you marry the two concerns together? Is it possible to leverage technology to prevent your accounting and inventory efforts from existing in silos? Read on to find out more.

Embrace accounting solutions

For smaller businesses, it might be tempting to waive the expense of hiring an accountant and look after the books yourself. However, the importance of an accountant to companies of all sizes should not be underestimated, since they can save you a fortune in clerical errors and unexploited loopholes further down the line. Accounting is one area where you simply shouldn’t skimp, regardless of the size of your enterprise.

ADVERTISEMENT

Of course, the 21st century has brought an alternative solution to the traditional accountant. With the relentless onward march of technology, there are now a multitude of different types of accounting software, which can greatly simplify the process of invoicing, filling out balance sheets and, of course, filing those all-important tax returns come the end of the fiscal year.

When making a choice about which accounting app to use, it’s important you weigh the pros and cons of each individual piece of software and measure them against your needs. Xero, for example, is highly rated due to the extra features that the software offers.

Use third-party software to ease integration

Despite the plethora of additional features and benefits offered by Xero, it unfortunately does not allow for the creation of a bill of materials on the app itself. That’s a shame, since a bill of materials – essentially a recipe for the composition of every product in your inventory – is vital to staying on top of your stock and ensuring you always have enough raw materials at hand to manufacture products.

But don’t despair – despite this setback, it is still possible to achieve a bill of materials in Xero. All that’s required is the right workaround, namely by using a third-party app capable of creating a bill of materials and linking it to your Xero account. As one of the most popular technological solutions in the manufacturing industry, Katana is well-placed to meet exactly this need.

The secret of Katana’s popularity is not hard to fathom. As an app that was built by manufacturers for manufacturers, Katana anticipates all of your requirements and fulfils them. That means that you can generate countless bill of materials for all your products (and their variants), as well as adjust your inventory, calculate costs and check availability at the touch of a button. What could be simpler?

Tags: accountantaccountingaccounting softwarebookkeepingbooksmanufacturingtaxtaxestechnology
ADVERTISEMENT
California Business Journal Editorial Staff

California Business Journal Editorial Staff

Related Posts

How New Freelancers Can Avoid Bookkeeping Stress
How New Freelancers Can Avoid Bookkeeping Stress
VaroTeam co-founder Helen Braswell Kakouris
Accounting and advisory firm VaroTeam has doubled its customer count and tripled its employment base
Small Business Owner
Taking your small business to the next level
Business, Technology, Internet and network concept. Young busine
The Benefits of Quality Assurance and Software Testing
advertisement
ADVERTISEMENT

CBJ Newsletter

Facebook Twitter LinkedIn Instagram LinkedIn

Advertise With CBJ

Contact Rick@CalBizJournal.com

CBJ Rates and Demographics

Job Postings

CEO Wanted


Requirements: BS/BA + 2yrs of Business Managing Experience

Mail Resume: Grand Life, Inc. 14647 Northam St. La Mirada, CA 90638.

$114,754/year

ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • Gavel, scales of justice and law books

    Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0
  • How to Start a Telecommunication Business: A Step-By-Step Guide

    0 shares
    Share 0 Tweet 0
  • 6 Types of Business Records and Receipts Every Small Business Should Keep

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0

Latest Articles

Q&A with Jennifer Woods, Vice President and Associate General Counsel of FrontDoor on Why Companies Should Release Sustainability Reports.

Q&A with Jennifer Woods, Vice President and Associate General Counsel of FrontDoor on Why Companies Should Release Sustainability Reports.

Best Practices for Establishing Secure Password Protocols

Best Practices for Establishing Secure Password Protocols

How to Up Your Marketing Game with Real Estate 3D Rendering

How to Up Your Marketing Game with Real Estate 3D Rendering

Tips For Designing A Vinyl Banner For Your Business

Tips For Designing A Vinyl Banner For Your Business

15 Useful Animation Makers for Novice Entrepreneurs (2023)

15 Useful Animation Makers for Novice Entrepreneurs For 2023

What is FinTech?

What is FinTech?

IT Company Tips: How to Develop IoT Mobile App

IT Company Tips: How to Develop IoT Mobile App

Offline Marketing Strategies for Brand Visibility and Awareness

Offline Marketing Strategies for Brand Visibility and Awareness

Around the U.S.: Benefits of Getting a Loan From Hard Money Lending in Colorado

Around the U.S.: Benefits of Getting a Loan From Hard Money Lending in Colorado

6 Easy Ways to Win the Online Casino

6 Easy Ways to Win the Online Casino

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR