4030 · Bills, invoices and inventory
Products and FIFO inventory
Autessa Accounting includes products and services with FIFO inventory: receiving stock values it in Inventory, and each sale moves the oldest stock’s cost to cost of goods sold. On-hand quantity and value always come from the stock layers, and items at or below their reorder point are flagged.
The problem
Averaged inventory costs blur your margins
If you sell hardware or physical goods, profit depends on what the units you sold actually cost. First-in, first-out costing charges each sale with the cost of the oldest units on the shelf, so gross margin reflects reality, in integer cents with no rounding drift.
What you get
- Three types: inventory, service and non-inventory.
- Each product has a sale price, a revenue account, and for inventory an Inventory account and a cost of goods sold account.
- Receive stock: quantity, cost per unit, date and the account it was paid from.
- Sell: the oldest layers are drawn first; COGS is exact to the layer, never an average.
- Selling more than is on hand is refused rather than going negative.
- Inventory value at cost and on-hand quantity per product.
- Reorder point: warn when stock falls to this many.
How it works
How does products and fifo inventory work in Autessa Accounting?
Add the product
Name, type, sale price and its accounts, plus an optional reorder point.
Receive stock
Each receipt creates a cost layer and values the units in Inventory.
Record a sale
Revenue is recorded and the oldest layers move to cost of goods sold.
Reorder in time
A banner lists items at or below their reorder point.
Every option
Product fields
| Option | What it does |
|---|---|
| Type | Inventory, service or non-inventory. |
| Sale price | Default price on a sale. |
| Accounts | Revenue; for inventory items, Inventory and Cost of goods sold. |
| Reorder point | Warn when stock falls to this many. |
| Receive | Quantity, cost per unit, date, paid from. |
| Sell | Quantity, price, date, where the money lands. |
Permissions
Who can do what?
| Role | Can |
|---|---|
| Accountant and up | Add products, receive stock and record sales. |
Connected
How it connects to the rest of Accounting
FAQ
Questions about products and fifo inventory
Which inventory costing method does Autessa Accounting use?
First in, first out (FIFO). Each sale moves the cost of the oldest units on hand to cost of goods sold.
Can it warn me when stock is low?
Yes. Set a reorder point on a product and it is flagged when stock falls to that number.
Can I sell services too?
Yes. Services and non-inventory items record revenue without stock layers.
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