The difference between physical inventory and perpetual inventory

Physical inventory. In the case of various property and materials, only the increase amount is usually registered, and the decrease amount is not recorded in the account books one by one, and at the end of the period, the amount of the actual inventory is used as the balance amount, and the reduced amount of property and materials is squeezed out, and then recorded in the relevant account books accordingly. With this method, the physical inventory of physical objects becomes the basis for registering the issuance of property and materials in the account books, so that an inventory of property must be carried out, otherwise, it is impossible to determine the amount of reduction and the amount of actual deposit of property and materials.

Advantages: The accounting work is relatively simple. Cons:

The accounting procedures are not strict, and the occurrence and balance of property and materials cannot be reflected and supervised at any time through the records of the account books, and the shortage and loss of property and materials cannot be reflected. Therefore, it is not conducive to strengthening the accounting and management of property and materials.

Perpetual inventory. The increase or decrease of all kinds of property and materials must be registered in the account books day by day according to the accounting vouchers and in the order in which they occur, and the balance amount of all kinds of property and materials must be settled in the books at any time.

Advantages: The accounting procedures are strict, and the receipt, dispatch and storage of various property and materials can be reflected in a timely manner. Disadvantages: The amount of accounting is relatively large.

Due to a variety of reasons, the accounts of property and materials do not match, and it is still necessary to conduct regular physical inventory.

The physical inventory system, also known as the regular inventory system, is a method of determining the ending inventory and the current cost of goods sold through the physical inventory of the ending inventory (China's commercial enterprises) and the storage consumption (China's industrial enterprises).

The perpetual inventory system is an inventory accounting method that registers both the income and the number of issues issued in the daily record of inventory, and can reflect the book balance at any time through settlement.

Moving weighted average method is used to calculate costs:

At the end of September, the inventory cost of the physical inventory system was 89 pieces, yuan. The cost of issuance was 11,599 yuan, and the loss was 811 yuan.

At the end of September, the inventory cost of the perpetual inventory system was 900 pieces, 9,601 yuan. The cost of issuance is 11,599 yuan.

Calculate costs using the FIFO method:

At the end of September, the inventory cost of the physical inventory system was: 89 pieces, 1068 yuan. The cost of issuance was 11,100 yuan, and the loss of 811 pieces was 9,032 yuan.

At the end of September, the inventory cost of the perpetual inventory system was: 900 pieces, 10,100 yuan. The cost of issuance is 11,100 yuan.

Hello, specifically, there are three main differences between the physical inventory system and the perpetual inventory system: different meanings, different scope of application, and different calculation formulas.

The physical inventory system, also known as the periodic inventory system, refers to the method of determining the ending inventory and the current cost of goods sold through the physical inventory of the ending inventory.

The perpetual inventory system, also known as the book inventory system, is based on accounting documents.

Continuously record the increase and decrease of inventory in the books of accounts, and at any time record the amount of the book balance. That is, the daily record of inventory not only registers the number of income, but also registers the number of issuance, and through the settlement of accounts, it can reflect the number of book balances at any time.

1. Different meanings:

Perpetual inventory system: Also known as the book inventory system, it is through the setting of inventory sub-accounts.

The daily increase or decrease of inventory is continuously registered, and the balance of each inventory is settled on the books at any time and the actual inventory is regularly compared with the actual inventory to determine the inventory profit.

A system of loss. Physical inventory system: also known as the regular inventory system, calculated and sold by inventory, and stored and consumed, through the physical inventory of the ending inventory, the method of determining the ending inventory and the current cost of sales.

2. The scope of application is different

Perpetual inventory system: It is applicable from the perspective of strengthening the management of inventory and providing accounting information required for management, except for special circumstances when the physical inventory system is adopted, the perpetual inventory system should be adopted as much as possible.

Physical inventory system: It is generally only used to account for those fresh commodities with low value and unstable quantity and large loss.

3. The calculation formula is different

Perpetual inventory system: inventory book closing balance = inventory book opening balance + inventory increase in the current period - inventory decrease in the current period and inventory balance at the end of the period = opening inventory balance quantity + increase inventory quantity in the current period - inventory quantity issued in the current period and ending inventory balance amount = opening inventory balance amount + increased inventory amount in the current period - inventory amount issued in the current period.

The physical inventory system does not need to obtain the ending inventory through the continuous recording of the book, and assumes that the inventory other than the ending inventory has been **, and the cost of sales is reversed by this method, therefore, under the physical inventory system, the inventory reduced due to sales in daily operation is not recorded, and only the increased inventory is registered, that is, the "inventory" account remains unchanged at ordinary times, and the "purchase" account is set up to reflect the inventory purchased in the current period, and the "freight and miscellaneous expenses", "purchase return and discount" and "purchase discount" account are set up at the same time. At the end of the period, the Inventory account is adjusted to the closing number and the cost of goods sold for the current period through an adjustment entry.

1。The two methods of registering various property and materials in the account books are different, and the increase and decrease of various property and materials in the perpetual inventory system must be continuously registered in the relevant account books according to the accounting vouchers, and the book balance of various property and materials shall be settled in the account books at any time.

2。At the end of the month, the decrease in the current period is calculated according to the actual balance of the various property and materials in the physical inventory, and recorded in the macro book of the relevant accounts.

3。The purpose of the property inventory under the perpetual inventory system is to check with the account books, and the purpose of the property inventory under the land inventory system is to calculate the balance of the property at the end of the period.

Summary. Hello, kiss <>

There is a difference between the physical inventory system and the perpetual inventory system, and the meanings of the two are different: 1. The meaning of the perpetual inventory system: The perpetual inventory system, also known as the "book inventory system", is a management system that usually sets up detailed accounts for various property and materials of the enterprise unit, continuously records its increase and decrease changes according to the accounting vouchers and settles the balance at any time.

This kind of inventory system can reflect the balance of various assets and materials of the enterprise in a timely manner from the account books and materials, and provide a reliable basis for timely grasping the changes and balances of the assets of the enterprise units, so as to strengthen the management of the property and materials of the units. Usually the purchase, sale and inventory are recorded, and the inventory is to check whether the book balance is consistent with the quantity in the warehouse, which can be irregular.

There is no difference between a physical inventory system and a perpetual inventory system.

Hello, kiss <>

There is a difference between the real hall and the perpetual inventory system, and the meaning of the two is different: 1. The meaning of the perpetual inventory system: The perpetual inventory system, also known as the "book inventory system", is a management system that usually sets up detailed accounts for the property and materials of the enterprise and continuously records its increase and decrease according to the accounting vouchers and settles the balance at any time.

This kind of inventory system can reflect the balance of various assets and materials of the enterprise in a timely manner from the account books and materials, and provide a reliable basis for timely grasping the changes and balances of the assets of the enterprise units, so as to strengthen the management of the property and materials of the units. Usually the purchase, sale and inventory are recorded, and the inventory is to check whether the book balance is consistent with the quantity in the warehouse, which can be irregular.

2. The nature of the two is different: 1. The nature of the perpetual inventory system: with the perpetual inventory system, the inventory should be counted at least once a year to determine the actual inventory quantity.

If the actual quantity of the inventory does not match the quantity of the inventory on the account, it will occur"Profit"or"Loss"Circumstance. The permanent inventory system requires the lead god to record the daily incoming and outgoing socks and goods in and out of the warehouse, and settle the balance at any time, and check whether the accounts are consistent when taking inventory. It is conducive to confirming the quantity of goods and ensuring the integrity of the goods.

2. The nature of the physical inventory system: for the physical inventory system, the cost of sales is determined by the opening inventory plus the purchase of the current period minus the closing inventory balance of the physical inventory, if any"Profit and loss", it is impossible to know. The advantage of the physical inventory system is that the accounting work is relatively simple and the workload is smaller.