SmartB: Cloud ERP for SMEs

What is a Stock Card?

In First In First Out (FIFO) accounting, transactions can be quite complex and it can get messy if not managed properly. Hence, one option of keeping track of inventory is

Journal Entries

Recording transactions and using them as investigative tools is nothing new. In fact, this is a common exercise in accounting practices. Nearly all transactions are recorded as Journal Entries and
SmartB: Cloud ERP for SMEs

What is ‘Backflush Costing’?

According to Investopedia, Backflush Costing is a concept that is used in the production or inventory management. "It is a product costing system generally used in a just-in-time inventory environment. Instead