Best Stock Management Software for Australian Tax Standards
BSimple’s stock management software is built for Australian businesses with local compliance at its core:
- GST-compliant stock tracking with automatic tax calculations
- Xero integration that understands Australian tax settings
- Stock valuation methods aligned with Australian accounting standards (FIFO, weighted average)
- Stocktake and adjustment workflows for ATO audit requirements
- Purchase order management with GST tracking on incoming stock
- Australian business support during local business hours
Stock management in Australia isn’t just about knowing what you have on the shelf—it’s about managing stock in a way that complies with ATO requirements, GST regulations, and Australian accounting standards. International stock management software often treats these requirements as afterthoughts, leaving you to manually adjust data for Australian compliance.
BSimple is different. We’re built by Australians who understand that stock management needs to integrate seamlessly with Xero, handle GST correctly on both purchases and sales, and provide the audit trails and valuation methods that Australian businesses require.
Whether you’re a wholesaler managing stock for B2B customers, a manufacturer tracking raw materials and finished goods, or a retailer with multiple locations, BSimple gives you stock management that works the way Australian businesses operate. No adapting international software—just straightforward stock control that handles local requirements natively.
GST-Compliant Stock Tracking and Reporting
Every stock transaction in Australia has GST implications. When you purchase stock from suppliers, you’re paying GST that needs to be claimed back. When you sell stock to customers, you’re collecting GST that needs to be remitted. Your stock management software needs to track all of this accurately for BAS reporting.
BSimple handles GST compliance throughout your stock lifecycle:
- Purchase orders with GST: Track GST on incoming stock, including GST-inclusive and GST-exclusive supplier pricing
- Stock valuation: Maintain stock value at GST-exclusive cost for accurate COGS calculations
- Sales with correct GST treatment: Apply GST to sales based on customer type (GST-registered B2B vs consumers)
- Stock adjustments: Write-offs and adjustments include proper GST treatment for ATO reporting
Because BSimple integrates natively with Xero, all stock transactions flow to your accounting system with correct GST coding. Your bookkeeper can prepare BAS returns confident that stock-related GST is accurate. No manual spreadsheets to track GST on inventory, no reconciliation headaches at quarter-end.
For businesses managing larger warehouse operations with complex GST scenarios, our Australian warehouse management software provides additional compliance features.
Stock Valuation and Australian Accounting Standards
How you value stock matters for financial reporting and tax purposes. The ATO accepts several valuation methods—FIFO (first in, first out), weighted average cost, or standard costing—but you need to choose one and apply it consistently.
BSimple supports multiple stock valuation methods aligned with Australian accounting standards:
FIFO Method: The most common approach for Australian businesses. BSimple tracks which stock was purchased when, and applies the cost of the oldest stock first when calculating COGS. This gives you accurate profit margins even when supplier costs fluctuate.
Weighted Average Cost: BSimple calculates the average cost of all stock on hand and uses this for COGS calculations. This method smooths out cost fluctuations and simplifies accounting for some businesses.
Standard Costing: Set a standard cost per item and use this consistently. Variances between actual purchase costs and standard costs are tracked separately for management reporting.
The stock valuation flows to Xero automatically, ensuring your balance sheet shows accurate inventory assets and your profit and loss reflects true COGS. This integration is critical for financial reporting, tax compliance, and understanding your actual business profitability.
Learn more about the broader capabilities in our comprehensive inventory management software guide.
Stocktakes, Adjustments, and Audit Compliance
The ATO requires Australian businesses to maintain accurate stock records with supporting documentation. Regular stocktakes, documented adjustments, and clear audit trails are essential for tax compliance and defending your numbers if the ATO comes calling.
BSimple provides the stock management tools Australian businesses need for audit readiness:
Stocktake Management: Run full or partial stocktakes with BSimple’s streamlined interface. Search for products, enter actual counts, and the system calculates variances against book quantities. Once approved, adjustments flow to Xero with proper documentation.
Stock Adjustment Tracking: Every adjustment—whether from stocktake, damage, theft, or returns—creates an audit trail with date, reason, quantity, and user. This documentation satisfies ATO requirements for explaining stock variances.
Historical Reporting: View stock movements, adjustments, and valuations for any historical period. If you need to explain stock levels or COGS from six months ago for an audit, the data is there.
User Access Logs: Track who made changes to stock levels and when. This accountability is important for both internal controls and external audit requirements.
Australian businesses can’t afford to have stock management systems with gaps in documentation or missing audit trails. BSimple ensures you have the records and traceability that meet Australian standards, giving you confidence whether you’re preparing annual financials or responding to ATO queries.
For businesses with both stock management and broader warehouse needs, explore how our warehouse management solution extends these capabilities.
Frequently Asked Questions
Does BSimple stock management comply with Australian GST requirements?
Yes, BSimple is built specifically for Australian GST compliance. The system tracks GST on stock purchases and sales, handles both GST-inclusive and GST-exclusive pricing, and integrates with Xero to ensure accurate BAS reporting. All stock transactions include proper GST treatment that meets ATO requirements.
What stock valuation methods does BSimple support for Australian businesses?
BSimple supports FIFO (first in, first out), weighted average cost, and standard costing methods. All of these are accepted by the ATO and align with Australian accounting standards. You choose the valuation method that suits your business, and BSimple applies it consistently across all stock transactions and Xero integration.
How does BSimple handle stocktakes for Australian audit requirements?
BSimple provides a structured stocktake process with variance reporting and adjustment tracking. You enter physical counts, the system calculates discrepancies against book stock, and creates documented adjustments that flow to Xero. This gives you the audit trail and documentation the ATO expects for stock valuation changes.
Can BSimple track stock across multiple locations in Australia?
Yes, BSimple supports multi-location stock tracking across Australia. You can manage stock in different warehouses or retail locations, transfer stock between locations with full documentation, and maintain separate stock levels for each location while consolidating for financial reporting. This is essential for Australian businesses operating across states.
How does BSimple integration with Xero help with Australian tax compliance?
BSimple syncs all stock transactions to Xero with correct GST treatment, cost of goods sold calculations, and inventory valuations. This ensures your Xero data meets Australian accounting standards and ATO requirements without manual adjustments. Your bookkeeper can prepare BAS returns and financial statements knowing the stock data is accurate and compliant.
Is BSimple suitable for small Australian businesses or just large warehouses?
BSimple is designed for Australian small to medium businesses—typically those with $500K to $10M in revenue. We’re not enterprise warehouse management software; we’re practical stock management for real Australian businesses. Whether you’re managing 100 SKUs or 5,000, BSimple provides the compliance and functionality you need without unnecessary complexity.