Xero for Dummies by Heather Smith, 657.0285.
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Periodic vs perpetual inventory: periodic recognizes inventory as a direct cost when it is purchased, and as sales income when it is sold. Perpetual keeps a continuous count of inventory, applying the cost of an item against the sale price in the month it’s sold. Xero allows for periodic; use an add-on for perpetual.
Xero add-ons: www.xero.com/add-ons . Connectors include OneSaas and Zapier.
Grouped inventory accounts. Inventory Asset accounts have to be manually updated following stocktakes. Transactions such as sales don’t update the Inventory Asset account unless directly posted to the account.
Reports function includes inventory reports.
Be careful about deleting an inventory item if it’s in use in a draft invoice, bill, or PO.
Record a manual journal to adjust inventory account values.
Xero has an inbuilt link to Constant Contact via its Smart Lists function. Inventory add-ons: Trade Gecko. Catalogs: simPro. Shipments: StarShip.