Inventory Systems: Perpetual or Periodic

Companies may use either the perpetual system or the periodic system to account for
inventory. Under the periodic system, merchandise purchases are recorded in the purchases
account, and the inventory account balance is updated only at the end of each accounting
period. Perpetual inventory systems have traditionally been associated with companies that
sell small numbers of high-priced items, but the development of modern scanning and
computer technology has enabled almost any type of merchandiser to consider using this
system.

Under the perpetual system, purchases, purchase returns and allowances, purchase
discounts, sales, and sales returns are immediately recognized in the inventory account, so the
inventory account balance should always remain accurate, assuming there is no theft,
spoilage, or other losses. Consider several entries under both systems. The reference columns
are removed from the illustration to simplify what you're seeing. (Note: Ap stands for
accounts payable, and AR stands for accounts receivable.)

As the two sets of circled entries indicate, two things happen when there is a sale or a sales
return. First, the sales transaction's effect on revenue must be recognized by making an entry
to increase accounts receivable and the sales account. Second, the flow of merchandise
between inventory (an asset) and cost of goods sold (an expense) is recorded in accordance
with the matching principle. A sales return has the opposite effect on the same accounts.
Under the periodic system, the inventory and cost of goods sold accounts are updated only
periodically, but under the perpetual system, entries that recognize a transaction's effect on
these accounts occur when the revenue from the sale is recognized.

For convenience, a sale or sales return can be recorded under the perpetual system with a
compound entry that lists all four accounts.

The general journal provides a simple, consistent format to present new information.
However, most companies would record the sale in a sales journal.

Companies may use either the perpetual system or the periodic system to account for
inventory. Under the periodic system, merchandise purchases are recorded in the purchases
account, and the inventory account balance is updated only at the end of each accounting
period. Perpetual inventory systems have traditionally been associated with companies that
sell small numbers of high-priced items, but the development of modern scanning and
computer technology has enabled almost any type of merchandiser to consider using this
system.

Perusahaan dapat menggunakan sistem perpetual atau sistem periodik untuk akun
persediaan. Pada sistem periodik, pembelian barang dagangan dicatat dalam akun pembelian,
dan saldo akun persediaan hanya akan diperbarui pada setiap akhir periode akuntansi. Sistem
persediaan Perpetual secara tradisional dikaitkan dengan perusahaan yang menjual sejumlah
kecil barang berharga mahal, tetapi perkembangan pemindaian modern dan teknologi
komputer telah memungkinkan hampir semua jenis merchandiser untuk mempertimbangkan
menggunakan sistem ini.

Under the perpetual system, purchases, purchase returns and allowances, purchase
discounts, sales, and sales returns are immediately recognized in the inventory account, so the
inventory account balance should always remain accurate, assuming there is no theft,
spoilage, or other losses. Consider several entries under both systems. The reference columns
are removed from the illustration to simplify what you're seeing. (Note: Ap stands for
accounts payable, and AR stands for accounts receivable.)

Pada sistem perpetual, pembelian, retur beli dan penyisihan, potongan pembelian, penjualan, dan
penjualan kembali ini langsung diakui dalam akun persediaan, sehingga saldo akun persediaan harus
selalu tetap akurat, dengan asumsi tidak ada pencurian, pembusukan, atau kerugian lainnya.
Pertimbangkan beberapa entri di bawah kedua sistem. Kolom referensi dikeluarkan dari ilustrasi
untuk menyederhanakan apa yang Anda lihat. (Catatan: singkatan Ap untuk hutang, dan AR
singkatan piutang.)
Sebagai dua set dilingkari entri menunjukkan, dua hal yang terjadi ketika ada penjualan atau kembali
penjualan. Pertama, efek transaksi penjualan terhadap pendapatan harus diakui dengan membuat
sebuah entri untuk meningkatkan piutang dan akun penjualan. Kedua, aliran barang dagangan
antara persediaan (aset) dan biaya pokok penjualan (beban) dicatat sesuai dengan prinsip yang
cocok. A kembali penjualan memiliki efek berlawanan pada account yang sama. Di bawah sistem
periodik, persediaan dan harga pokok piutang yang dijual hanya akan diperbarui secara berkala,
tetapi di bawah sistem berkelanjutan, entri yang mengakui pengaruh transaksi terhadap account
tersebut terjadi ketika pendapatan dari penjualan diakui.
Untuk kenyamanan, penjualan atau mengembalikan penjualan dapat dicatat dalam sistem
berkelanjutan dengan entri daftar senyawa yang keempat rekening.

Jurnal umum menyediakan format sederhana yang konsisten untuk menyajikan informasi
baru. Namun, kebanyakan perusahaan akan mencatat penjualan dalam jurnal penjualan.