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Inventory management is carried out by individual recording of goods purchases; sales generate two booking entries and show the current inventory value. The method continuously captures inventory discrepancies, enables a current inventory overview, and provides precise sales analyses.

Companies can record purchases of goods either as an increase in inventory or as cost of goods sold. Method 1 is more precise but increases the number of entries, while Method 2 is preferred by smaller companies to reduce the workload.

The UID register combines data such as company name, location, UID, and notes on entries from various registers. Search functions enable queries of this information, including status and tax details.

Inventory discrepancies are deviations between inventory according to accounting records and actual stock levels, caused by incorrect bookings, theft, or natural shrinkage. These discrepancies often lead to inventory shortages, which must be accordingly accounted for in the bookkeeping.

Cost prices change; they can be recorded through average price calculation or the FIFO method. Both methods help to account for price fluctuations in accounting.

The article explains discounts and cash discounts in trade: Discounts are price reductions such as quantity or defect discounts, cash discount is a deduction for quick payment.

Goods receipt inspections are essential; details such as quality and quantity must be accurate. When selling large-volume products, electronic recording using scanners is common.

The accounting for purchasing and selling uses three main accounts: inventory, cost of goods sold, and sales revenue, whereby costs are recorded through purchase prices and selling prices. Inventory captures changes in stock, cost of goods sold captures consumption, and sales revenue captures revenues from sales.

The gross profit, calculated from sales revenue minus cost of goods sold, serves to cover overhead costs and for the calculation of net profit. This is central to assessing a company's cost and pricing strategy.