As a business owner or finance office in charge of managing finance for a bottled or sachet water company (pure-water), key areas you may be interesting in more than anything are how to accurately track sachet water productions, quantity produced, the number of bags distributed to customers or resellers, amount returned and the cash collected by salesmen on a daily basis.
Sachet water business, at times, can be frustrating if you don’t have an effective accounting system that will monitor cash flows, expenses and report the actual stock movements – you may even lose more than you are gaining, especially when your staff are not trustworthy.
In implementing an accounting software for your sachet water company, here is a brief demo on how we can customise QuickBooks Premier for your business: we choose Premier because it comes with a manufacturing feature; a built-in function that assembles your raw materials into finished product – so if you had bought nylon, paid for factory materials or dug a borehole that supplies water, the software can accurately monitor all cost incurred as bill of materials – which is the cost of production.
For companies that have multiple warehouses or store in which stocks are transferred from the main production unit to other stores where salesmen can pick them up for distribution, QuickBooks Enterprise is highly recommended.
How QuickBooks can work for a sachet water business:
- QuickBooks has an inventory feature that lets you set-up all factory materials needed to produce bags of sachet water including cost incurred, quantity produced and available for sale units.
- You can run transfer to track all stock distributions to various outlets or locations by inputting “quantity transferred to or fro” at cost price.
- For sales, you can use the sales receipt to track all bags sold for the day and amount collected which should automatically reduce the quantity on hand at the specific selling location.
- All cost incurred on selling and distributions can also be recorded as cost of sales to ascertain the actual profit on sales.
- Salaries and wages paid to salesmen, including office expenses can also be recorded.
- QuickBooks banking window lets you track your bank accounts, cash transfers, cheque payments, charges and reconcile differences between the bank statement and cash book balances at the end of the month.
- For payroll, you can track all bonus, deductions and PAYEE using journal entries.
- QuickBooks also has a reporting window that reveals the actual position and trend of your business on a real time – profit or loss, statement of financial position, cash flow, sales, expenses and more.
For inquiries on how we can set you up with QuickBooks or for further questions on areas you want us to address, contact us on 08105090001, 08084219399 or mail firstname.lastname@example.org
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