Physical inventories are taken using bar code technology or if client’s request, using the traditional method of physical inventory taking. We use the reports issued by the client’s computerized control system as a basis.
Taking physical inventories of fixed assets or goods allows proof, at a given date, of the actual existence of such assets. In the case of fixed assets, it also shows its usefulness, state, and operating and safety condition. The results are reconciled with the accounting books to establish short and over, and thus reflect the actual balances.
Our specialists have extensive experience and go to the client’s facilities where the goods or fixed assets to be inventoried are located. Our equipment and mobile systems allow us to process the information on site through all the stages of inventory taking.
¡Keep control of your inventory and avoid losses. Evaluate and reconcile your inventories to reflect actual balances!
We offer the following services:
- Planning for physical inventory taking.
- Clear definition of objectives.
- Process for taking physical inventory of goods – description and count
- Process for taking physical inventory of fixed assets – description and count
- Coding and labeling through use of bar codes
- Printing labels
- Reconciliation of physical inventory with accounting control reports
- Identification of differences between physical inventory and control reports: short and over
- Preparation of inventory valuation reports: goods and fixed assets
- Indication of assets suggested for write-off
- Preparation of final report of physical inventory taking
- Letter of notes and internal control recommendations
Benefits of physical inventory outsourcing:
- Avoids using own personnel in the actual inventory control.
- Confidentiality and impartial results.
- Loss reduction by detecting errors early.
- Identification of critical areas in your inventories.
- Actual record of business assets.
- Personnel 100% specialized in taking and appraising physical inventories.
- Service adjusted to client needs.
- Precise and trustworthy information.