- FIFO stock valuation and cost of sales
- Multiple warehouses and shop locations
- Transfers and warehouse supply requests
- Barcodes and barcode labels
- Low stock and expiry alerts
- Stock variance checks and import or export from Excel
Accurate cost of sales with FIFO
When you receive goods, InsightBooks records the quantity and the cost. When you sell, it uses the oldest cost first (FIFO), so your gross profit reflects what the stock really cost you, even when supplier prices change.
Warehouses and shops
Hold stock in a central warehouse and in each shop. Move stock with transfers, record losses and see the movement history of every item. Shops can raise supply requests that the warehouse approves and fulfils, fully or in part.
Stop running out and stop losing stock to expiry
Set reorder levels to see low stock early. For goods with expiry dates, InsightBooks tracks expiry and sends warnings before items expire, which matters for pharmacies, groceries and agro dealers.
Stock counts and variances
Count your stock, compare the count with the system quantity and review the variance before you adjust. Adjustments post to your books so inventory value in the balance sheet matches what is on the shelves.
Purchasing linked to stock
Raise purchase orders to suppliers, receive goods against them and record supplier bills. What you buy, what you owe and what you hold stay in agreement.
Frequently asked questions
Which stock valuation method does InsightBooks use?
First in, first out (FIFO). The oldest cost is used first when stock is sold.
Can I manage more than one warehouse?
Yes. You can hold stock in several warehouses and shop locations, transfer between them and handle supply requests from shops.
Can I import my product list from Excel?
Yes. Stock can be imported and exported with Excel workbooks, which helps when you move from spreadsheets.
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