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How to Manage Salon Business Inventory with Software?

In simple words, inventory is the process of re-calculating goods in stock and verifying the actual availability of goods.

It is performed by auditors and business owners to track inconsistencies in daily business operations, protect the theft of useful products by unscrupulous craftsmen. They also want to know what services are most cost-effective, which specialists bring the greatest income to the salon and how to rationally allocate inventory. Salon Business Inventory is a time consuming and responsible recalculation procedure. It is necessary to conduct a stock inventory in a proper manner to obtain correct data. If you use Inventory management software, things become a lot easier. Let’s see how it works.

  • Preparation for The Store Inventory

First of all, to conduct a salon business inventory, you need to get some important documents. Prepare a document which contains important aspects of the inventory, such as the date on which inventory will be conducted, responsible persons, etc. You also need to create an inventory commission comprising the head of the company, an accountant and materially responsible persons – salespeople, employees, etc.

The better you prepare for inventory, the faster and more successful inventory in your salon centre will be. If you use Inventory management software, you can easily take out different reports in a few clicks, prepare a document for inventory, reduce the downtime of the store and minimize the cash loss. It is because Spa Management Software quickly uploads the balances both in all positions and in certain groups of goods. So, you can easily complete inventory and make all required calculations accurately.

  • Easily Track Inventory Progress

As a part of the planned inventory, auditors must check the quantity & quality of the product, its shelf life, the absence of defective products and compliance with storage standards. All results must be recorded in the inventory report compared to the products supplied to the salon centre.

Send one copy to the accountant for the further comparison of the products and track the acts of materially responsible persons with a second copy. The inventory records the names of goods and materials, their characteristics, the item number of goods, units of measurement, code, and inventory number, etc.

Conducting an inventory will take less time if you use Salon POS system Software. You will be able to check the availability of goods quickly as inventories are generated in a short time. You simply print documents about the actual availability of goods and check them in the list of products quickly. You must record all surplus products, packaged or unrecorded goods in the document. If possible, recalculate everything once again using the salon business Inventory software to catch inaccuracies.

  • Swift Analysis of Inventory Results

If you use Inventory management software, it becomes easier for you to analyse the results of inventory. Just enter the data on the Salon CRM software. The system itself compares them with the accounting indicators and gives accurate results in a few minutes. It saves your time & energy up to a great extent. In the absence of electronic accounting capabilities, accountants or salon business owners have to perform the job manually which takes a lot of time and the chances of errors are always higher.

  • To Deal with Surpluses and Shortages of Goods

Generally, Shortfalls can be written off and attributed to the norms of natural loss. The presence of the surplus should be deal with care as they can be taxed on profits and you will have to pay for the goods twice – both to the state and to the supplier. If there is a significant amount of surplus or shortage after the planned inventory, you should think about improving the work culture in your salon centre to keep running your salon in a profitable mode.

Final Words

The main objectives of salon business inventory are the identification of the actual availability of goods, comparison and reconciliation of discrepancies of the information obtained with the accounting data of the company. All data obtained through the salon management software helps auditors to conduct salon inventory easily and give accurate reports without facing any hassle.

 

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Julia Ching

Julia Ching is associated with Salonist – Beauty Salon POS System, as a Content Writer. She manages all content management projects and is keenly interested in writing technology, CRM software and Business Software related topics.
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