Inventory - First-In-First-Out (FIFO) option in Tracked Inventory
Offer First-In-First-Out (FIFO) accounting within Tracked Inventory as an option.
Purpose: Established US Companies tend to use FIFO for inventory valuation, so Xero would widen its scope of clients by offering the option. Plus, the option adoption would make reporting of its current US clients so much more straightforward.
22
votes
Cheryl Schneider
shared this idea
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Gareth Burton
commented
I have a client that we convinced to move to Xero from sage citing it as a much better product. It has just come to our attention that Xero uses the ludicrous average price method rather than FIFO as most logical UK businesses use. I will certainly not be as keen to recommend Xero for stock based businesses in future.
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Sam Muchada
commented
We need it as well, due to working on Margin Scheme VAT in UK