What is inventory?
Die inventory Denotes the Inventory of your assets and liabilities and forms the Basis for your balance sheet and for proper bookkeeping. That's why you usually lead them to Financial statements through, which usually occurs on December 31. This includes counting, measuring, weighing and estimating all assets in one set-up, the inventory.
It must be correct, complete and verifiable by the tax authorities. This allows a period of 10 days before and after the balance sheet date. It is also after Section 240 HGB mandatory for merchants. You are exempted from this obligation if you do not achieve more than 600,000 euros in turnover and 60,000 euros in profit for two years in a row.
What procedures are there?
Zur physical inventory Count all physical assets that you can weigh, count and measure.
There is also the Fixed asset inventory as an inventory of movable fixed assets. This includes equipment for the plant or shop, such as machines. Here, you state the exact description of the asset, the balance sheet value, the date of manufacture or acquisition and the costs for it, as well as the period of use and the annual depreciation.
For asset and debt values that are not physical, you manage the Book inventory through. This includes receivables, bank balances and cash balance.
What types are there?
Instead of Key date inventory, as described above under the procedures, you can also permanent inventory carry out, which is spread over the year. It is particularly suitable for inventories in progressive warehouse accounting, as a warehouse book is the prerequisite for this. You must also prepare appropriate documents so that you can verify all arrivals and departures.
Off commercial law Of course, you can apply permanent inventory to all stocks. Tax law Is she with uncontrollable departures not valid due to spoilage or shrinkage. This is only the case if you make a physical inventory once a financial year, the stocks and Transactions in the warehouse register, document the results and also sign them properly.
Die Sample inventory Do you carry out statistical methods using random samples. You must select these representatively and carefully in order to extrapolate them to the entire inventory.
What do I have to consider?
You must provide your employees with the exact period Determine the inventory and communicate it. This may differ by a few days without deviating conceptually from the cut-off date inventory. You also determine exactly who is responsible for which area. That is important for comprehensiveness and correctness, which also goes to principles belong. In addition, the quantities and units must be comprehensible to third parties in order to verifiability to fulfill and you may Don't count items twice.
When during the final audit shortcomings can be determined, this may have criminal consequences for you or an allegation of tax evasion draw after yourself. Die balance sheet Can also for voided be explained and appreciated instead.
