Inventory from Modisoft to your books
Modisoft tracks the items you sell. Your books need to know what they cost, what is still on the shelf and what went missing. This page explains how inventory reaches QuickBooks Online and what to check each month.
Works with your POS, back-office & accounting stack
Inventory is where a store's profit is easiest to misjudge. Modisoft has inventory management features, so it can tell you what is selling and what is on hand. This page covers what to take from it for your books. Which features and reports you have depends on your setup, so confirm them with Modisoft.
Items are received, sold and counted. That gives you quantities sold and quantities on hand, and in many setups the cost of each item.
QuickBooks needs the cost of what you sold in the period, and the value of what is left. The first is an expense. The second is an asset on the balance sheet.
Vendor invoices, including direct store delivery, are the other side. A purchase should either become inventory or go straight to cost of goods, depending on how you account for it.
Theft, spoilage and counting errors show up as the gap between what should be on hand and what a count finds. That gap is a real cost and should be recorded.
To see which numbers to pull, go to the inventory reports. To see what goes wrong, go to where it goes wrong. If you want a team to handle it, what we do covers it.
Monthly bookkeeping for stores that run Modisoft: daily reconciliation, month-end close and Modisoft totals posted into QuickBooks Online.
Read more →What the Modisoft back office does, which reports to pull each month, and how its totals reach QuickBooks Online.
Read more →What a Modisoft register records at the pump and counter, and how those sales end up in your books.
Read more →What Modisoft and PDI are each used for, how to choose, and what your books need either way.
Read more →What Modisoft lottery reports show, and how to record sales, payouts and commission correctly.
Read more →Send us a day or a month and we'll show you where the three systems disagree.
Get started →Vendor and delivery invoices are checked against what the system received.
The cost of what you sold is booked as an expense each month.
Inventory on the balance sheet is tied to a count or report.
Differences between the system and a count are booked and reviewed.
FinTruction · Construction Clients
Real US-based contractors. Same team, same operational discipline that we now bring to gas stations. Construction is a different vertical - but the muscle (multi-stream books, cost reconciliation, niche specialization) is the same one stations need.
"They didn't just record transactions and call it a day. They built a custom chart of accounts around how a remodeling company actually runs, did a full catch-up on years of bookkeeping inside QuickBooks Online, and now stay on top of my monthly bookkeeping and payroll."
Oniel Campbell
"Sahil and his team have been handling the bookkeeping and job costing for my painting business. They've done a great job cleaning up my books, using integrations to give me accurate, timely job costing and solid weekly data. Reliable, and the team is very detailed."
Dalton Mayberry
"They rebuilt the whole thing from the ground up, with real job costing, WIP, and retainage."
Carl Moore
Owner, Hearth & Haus
"They set the accounts up properly first, then cleaned up everything I never entered."
Rolian
"When I came to them I had no financial structure in place at all. No job costing, no WIP tracking, books were behind, no real way to tell if any job was actually making money. They came in, did a full cleanup, and set up job costing and WIP tracking inside QuickBooks."
Clay PearsonModisoft sales and inventory reports, vendor invoices and any counts.
Invoices are checked against what the system received.
The cost of what sold goes to an expense account.
The balance sheet is tied to a count or report.
You get the books and a short note on shrink and margin.
Report names and layouts vary by store setup. Ask Modisoft what yours are called.
Everything bought is treated as cost, so profit looks low in one month and high in the next.
Inventory on the balance sheet is a guess because nobody counts.
Items are sold at a margin that no longer matches what they cost.
Losses are never recorded, so margin looks better than it is.
You pay for items the store never received.
Direct store delivery is billed but never recorded in the system.
You want to know how it should reach the books.
Your profit jumps around from month to month.
You suspect shrink but cannot see it.
If you do not count regularly, tell us and we will suggest a simple way to start.
A 30-minute call, then about 48 hours while we review your books. You get our findings and a plain explanation of how we would fix them.
We agree how purchases, cost of goods and counts are recorded and document it.
The first month is reconciled, closed and reported, then it runs on a schedule.
Fuel inventory, daily POS reconciliation, jobber statements and fuel versus store margin.
5 services →Car wash, lottery and ATM, vendor and DSD invoices, prepared food, shrinkage and more.
9 services →Fuel excise and motor fuel tax, multi-category sales tax, BSA/AML-aware books and entity tax.
4 services →Multi-location consolidation, store acquisitions and disposals, and loan and financing packages.
3 services →FAQ
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Gas station & c-store accounting questions, answered.