Perpetual Inventory
Perpetual inventory systems continuously track inventory levels using real-time data from point-of-sale or stock movement. It provides accurate, up-to-date stock figures without needing frequent physical counts. This system enhances inventory control, reduces shrinkage, and supports just-in-time inventory strategies, especially in retail and manufacturing environments.
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Purchase Order
A purchase order is a formal document issued by a buyer to a supplier, confirming the purchase of goods or…
Petty Cash
Petty cash is a small fund kept on hand for minor or incidental expenses, such as office supplies or travel…
Provision
A provision is an estimated liability recorded when a business expects a future obligation from a past event but the…
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