16 June 2017
we are now not close Inventory book monthly or close month for Inventory transaction, we are asked to implement this.
therefore my question are
1. what the benefit of monthly closer of inventory book?
2. if not close the inventory book monthly, what is disadvantage?
please guide
16 June 2017
When we close the inventory as of the month end, the record is finalised till that date. Then we dont have to go back. From this view point it is advisable to close the inventory book at regular interval...say weekly, fortnightly, monthly etc
CAclubindia
