17+ Perpetual Inventory Control

Sunday, January 3rd 2021. | Excel Templates

17+ Perpetual Inventory Control. Perpetual inventory control makes tracking what needs ordered and what should go on sale easy. The perpetual inventory system is intended as an aid to material control.

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The perpetual inventory system is used in accounting to keep inventory records. The perpetual inventory system (aka continuous inventory allows for management to have more direct inventory control. When choosing an inventory control system for your organization, you first should decide whether a perpetual inventory system or periodic inventory system is best suited to your needs.

The perpetual inventory system has several advantages over a periodic system for businesses of all sizes.

In perpetual inventory system, there is no interference in the regular workflow at the time of stock taking and verification while in periodic inventory system. A perpetual inventory system is one which updates inventory after each purchase and at periodic intervals. High level of control as management knows the quantity at any given time. The perpetual inventory system has several advantages over a periodic system for businesses of all sizes.