The most crucial aspect of wrapping up your business' year-end pertains to inventory. It is the only report that is time-sensitive. Before entering any new tax year information, you'll want to ensure you capture this information.
Step 1: Print the Inventory view
- From the Product menu, select Product List (or from the Products - Inventory group on the main toolbar, click
Inventory). - From the View drop-down, select Inventory.
- From the Section drop-down options, ensure that 1 is selected (for retail products only).
- From the product list toolbar, click
Print. - From the preview window, click
to print (or 
to export as a pdf).
Step 2: Make Adjustments
After you've printed your current inventory amounts, if you need to make adjustments you can quickly change the On Hand amounts or to clear all and re-enter, see Enter Your Base Inventory or Create a Mock Order.
Important Note: The wholesale amount is calculated from the Default Discount percent located in Inventory Orders Settings.
- From the Product menu, select Product List (or from the Products - Inventory group on the main toolbar, click Inventory).
- From the View drop-down, select Default (If necessary, from the product list toolbar, click
Expand). - Make adjustments to the On Hand field for any product that is not a pre-pack or collection.
Step 3: Print Inventory Listing by Category report & Export as PDF
When the On Hand inventory amounts are accurate for year-end, we recommend not only printing but also export as a pdf so that you have an electronic copy.
Tip: Visit Preferences if you would like your name and other business information displayed on tax reports. View
- From the Business Tools menu, select Reports (or from the Reports - Tools group on the main toolbar, click
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).
Step 4: Take a Backup
Taking a backup allows you to go back and see a "snapshot" of what your inventory was at the time 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 back up file.
- For clarity, we recommend using the tax year for the backup file name (i.e., 20XX-YEAREND).
- When finished, click Save.
- Click OK to acknowledge that the backup process is complete.
Additional Information:
- If you did not print the Inventory Listing by Category report before entering sales and inventory order information for the new year, the Estimated Inventory Value report can be printed for the previous year instead.
- Archive Product
- Create a Historical Inventory Order without Changing On Hand Amounts
- Remote Back up to the Cloud Automatically