How do you do inventory for a resale shop if you are using a basic cash register?

How do you do inventory for a resale shop if you are using a basic cash register?
I’ve been to resale shops and they ring your stuff and that’s it. They don’t write down anything or scan barcodes. Do you need to take inventory as long as you know what you made at the end of the day?

Best answer:

At the very least you need to take inventory once a year. You will need this information at the end of your business year to determine how much it cost you to buy the items you sold. This is necessary information for preparing your income taxes.

A really good idea is to take inventory on a more regular basis so you know if you are making money on what you are selling and also whether you are losing money due to people stealing or breaking items.

Hope that helps!

Tags: , , , , , ,

Under Forum

2 Comments for How do you do inventory for a resale shop if you are using a basic cash register?

  • 1. David Wallace  |  August 4th, 2009 at 7:29 am

    Wasp Barcode Technologies offers inventory software and inventory tracking solutions, designed to provide small businesses the efficiency of large companies, at prices that are affordable.

    More information can be found at waspbarcode.com/inventory_control/.

  • 2. Louis  |  August 4th, 2009 at 8:25 am

    You can try using a computer software to keep track of your stock. That way, you don’t need to worry about day-to-day inventory level, and can just do a month-end inventory count instead.

    For the software, you can take a look at inFlow Inventory. It is a basic inventory system that has all the esstenials.

    They have a Free version that is free forever, but limits to 100 products and customers. The software itself is very easy to use and fast to install.

    Here is their website:
    inflowinventory.com

    Hope this helps!

Leave a Comment for How do you do inventory for a resale shop if you are using a basic cash register?

You must be logged in to post a comment.

Trackback this post  |  Subscribe to the comments via RSS Feed

Categories