Guide
Goods accounting
Inventory accounting with accurate prices, stock counts and reconciled balances.
Goods accounting is the systematic record of every item of stock, material and finished product, from inflow through the receiving note and price calculation to outflow and sale. At any moment it shows you how much stock you hold, what it is worth and whether your margins are calculated correctly. For trade, hospitality and manufacturing this is not only a business necessity but a reliable way to know where your money actually sits and whether you are truly making a profit.
What you should know
- It covers records of stock, materials and products, receiving notes, purchase and sales price calculations, price changes, goods outflow and balance reconciliation.
- In a broad sense goods accounting is kept by everyone trading with stock: wholesalers, retailers, hospitality businesses and manufacturers, whether or not they are in the VAT system. Flat-rate (paušal) entrepreneurs do not keep double-entry books, but if they trade goods they still keep the prescribed turnover records.
- For the turnover of goods the KEP ledger (Knjiga evidencije prometa, formerly called KEPU) is kept, in which every inflow and outflow is entered chronologically; in retail the turnover is recorded at selling prices, and in wholesale at purchase prices.
- A regular stock count (inventory) is carried out at least once a year, as at the end of the business year (as a rule 31 December), to reconcile the book and physical stock.
- Every change of a selling price on goods in stock (nivelacija) is documented by a price-change record (nivelacioni zapisnik), and for VAT payers shortages above the prescribed wastage, spillage, spoilage and breakage norms are treated as a supply without compensation and subject to VAT.
How we handle it
- 01 Setting up records We establish goods and inventory accounting by item, warehouse and outlet, tailored to your activity and the way you operate.
- 02 Receiving and calculations We book receiving notes and prepare purchase and sales price calculations, with correct allocation of dependent procurement costs to the cost of goods.
- 03 Tracking turnover We record goods outflow and price changes and keep the KEP ledger for the turnover of goods, with continuous insight into stock and the price margin.
- 04 Counts and reconciliation We carry out regular and ad hoc stock counts, calculate wastage, spillage, spoilage and breakage, and reconcile the book balance with physical stock.
- 05 Reports and control We deliver clear reports on stock, margins and shortages, so you always know the value of your inventory and the profitability of each item.
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