| gen. |
inventory reconciliation (Inventory reconciliation is a process where a company balances its physical inventory with the figures in its accounting books. Two types of systems are available for reconciling inventory. Companies can either use a periodic or perpetual inventory system to conduct this activity. Like the names imply, a periodic inventory system requires an inventory reconciliation at several different times a year, such as each quarter; the perpetual method does not have this requirement as an annual inventory is sufficient. Under each system, a physical count of inventory is necessary to compare actual items to the accounting reports so accountants can make adjustments as necessary.  wisegeek.com Alexander Demidov); stock reconciliation (Alexander Demidov) |
