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Your federal taxes are sent through the IRS to confirm your tax liability. By filing business taxes accurately you are less likely to be targeted for a tax audit which is an extensive and painstaking review of your business’s financial records.

Properly managing inventory levels is an essential part to every business. But what happens when you have too much inventory? Excess, or surplus, inventory refers to products or ingredients that are nearing the end of their product life cycle.

When you account for all your audience’s senses, you’ll start to notice it exposes things in your business you may not have easily noticed before. Making sure all five of your customers’ senses are catered to will make shopping in your store more engaging. Shoppers will be more inclined to come in and look around, even if they’re not quite sure why.

Completing a physical inventory count is important for meeting customer expectations and determining your ending inventory value. Your ending inventory value is used for tax purposes and financial statements during the next accounting period.

Conducting a year-end inventory count and calculating ending inventory can put a lot of pressure on retailers. That’s why we compiled this guide to walk you through your end of year inventory tasks step by step.

Follow this guide before the upcoming shopping season so you can spend less time in the back office and more time participating in the holiday cheer. We’re sharing some of the most common headaches we see retailers experience during the holidays so you don’t have to.

Before Black Friday shoppers arrive at your store, ensure you design a holiday product strategy, prepare for longer lead times, and complete a cycle count. Once your inventory is ready for the holiday season, it’s time to attract customers with an exciting marketing campaign.