Follow quantity and value together
Purchase invoices explain cost, while receiving records establish what actually arrived. We connect the two and identify shortages, freight allocations and returns requiring supplier credits. The accounting approach should match the inventory system, with clear ownership of product setup and cost changes.
Movements between stock and workshop use need evidence too. A part installed on a customer job, used to repair the business’s own equipment or returned under warranty has a different purpose. Consistent movement reasons make the eventual stock count easier to explain.
Make counts useful between year-ends
A regular count of selected high-value or frequently moving lines can expose issues before the annual count. We compare recorded quantities with physical quantities, investigate material differences and separate damaged or obsolete stock for owner review. Valuation adjustments are considered with the accountant instead of hiding losses by changing quantities without an explanation.
Illustrative Regina example
A Regina farm-parts counter starts with 120 units, receives 45 and records 98 sales. The expected balance is 67. A physical count finds 61, and workshop records identify four units used internally. The remaining two-unit difference still needs investigation. Recording the internal use separately preserves both the stock movement and the workshop cost.
Questions about this work
Can you perform the physical count remotely?
Your team performs and confirms the physical count. We help structure the records, reconcile results and document differences.
Do all farm-related parts receive the same tax code?
No. Product, purchaser and use conditions matter. We preserve the purchase and exemption evidence needed for a separate tax assessment.
Put this into practice
Sources and current guidance
A practical next step
Bring the records you have.
We can identify missing information, agree on the scope and organize the next bookkeeping step.
Request a bookkeeping review