Tracking Inventory Flow & Handling Raw Materials
Posted by Steven in Tracking Inventory Flow and Handling Raw Materials
The inventory flow from the raw materials to finished products is matched by an information flow that helps track goods from start to finish – and helps track the value of those goods throughout the process and maintain them at proper level.The raw materials arrive in the ware house and their value is recorded both units and dollar amount. The materials, ordered through the appropriate requisition
procedure and transaction to accounts payable, are stored in the appropriate spot until needed.What about the paperwork? The accompanying purchase order and packing slip are forwarded to inventory control of recording in appropriate sub ledger. Value, again, is recorded both in unit numbers and dollar amounts. At the end of each day, all deliveries are tallied in the subaccount and posted to appropriate account on the general ledger.
