Stores Accounting

Stores accounting forms an important part of the general accounting process but it is often the most neglected part. Most companies especially MSMEs brush aside the importance of stores accounting. A mis-match in the receipts/issues in raw materials and stores or finished goods production / despatches would often result in a wrong closing stock figures thereby affecting all reports connected with the same. This may also give rise to serious tax liability issues in income tax and GST (which right now the concerned authorities may not be giving much importance) which can better be avoided. A correct system of records is thereby required to be maintained which can avoid future problems. Our firm helps you to do that - in drafting proper documents and records to help you avoid any mishaps in stores accounting process.