Year-end: Inventory (Cost of Goods)
Inventory is the most crucial aspect of wrapping up your business' year-end. The Inventory Listing by Category report is time-sensitive. Before entering any new tax year information, you'll want to ensure you capture this information. If you need to make any corrections before capturing your cost of goods on hand, see Make Inventory Adjustments.
Important Note: This report can only capture your current inventory value when the report is run. If any sales or product orders for the next tax year have been entered before printing the Inventory Listing by Category report, run the Estimated Inventory Value report instead (found under the Inventory section).
When the On Hand inventory amounts are accurate for year-end, we recommend printing and exporting as a PDF so that you have an electronic copy.
Tip: You can display your name and other business information on tax reports in Preferences. View
- From the Business Tools menu, select Reports.
- Under the Tax section, select the Inventory Listing by Category report, then click
Print (or double-click on the report). - From the preview window, click
to print (or 
to export as a pdf).
Taking a backup allows you to go back and see a "snapshot" of your inventory when the backup was taken and can then be accessed in the future, if necessary.
- From the File menu, select Backup.
- From the Save in drop-down options (or if you click This PC or Computer from the left-hand side), navigate to where you'd like to save the .zip backup file.
- For clarity, we recommend using the tax year for the backup file name (i.e., 20XXYEAR-END).
- When finished, click Save.
- If necessary, click OK to acknowledge that the backup process is complete.
