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Inventory Software for Private Limited Companies: Stock Records Ready for Audit

For directors, CFOs and accounts teams of private limited companies: keep stock records that stand up to the statutory audit, a lender's stock statement and a board review.

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An auditor and a stores head checking a box of machined parts in a stores room

Inventory software for private limited companies has a demanding reader: the statutory auditor. A private limited company's accounts are audited every year, and inventory is usually one of the largest and most questioned figures.

Auditors want to know how stock was valued, when it was physically verified, what differences were found and how they were dealt with. Many companies also report stock to their bank every month. When those figures come from a spreadsheet, each question costs days.

Below: an illustrative Pune example, the records that answer an auditor, and how Apragya keeps them as a by-product of daily work.

An example: a Pune precision parts company before its audit

Take an illustrative private limited company machining parts for tractor makers, with raw material, work in progress and finished goods in two stores. Its auditor asked for evidence of verification.

One cycle count, as the auditor saw it

Cycle count record

  1. One rack group, counted on a set date.

  2. No issues or receipts during the count.

  3. Listed item by item before posting.

  4. Entered by the stores head.

  5. Stock and the adjustment entry updated together.

  6. In the audit log for the auditor.

Each count left a record the auditor could read without asking for a sheet.

The auditor sampled six counts from the year, each with its scope, variances, reasons and posting. Questions about physical verification took an afternoon rather than a week, and the unrecorded scrap became a process fix.

A hand sealing count papers on a box of machined parts, with two scrap parts on a tray
The count was sealed with its reason: two scrap parts that had never been recorded.

What weak stock records cost a company

Longer audits

Auditors ask for counts, variances and valuation that must be rebuilt.

Lender questions

Monthly stock statements do not match the books at the quarter end.

Valuation doubts

Costs are worked out once a year, not with each movement.

Control gaps

The same person can receive, adjust and approve.

How Apragya keeps stock records audit ready

Step 1 of 5

Stock ledger

Every movement posts with quantity after, rate and value.

  1. Stock ledger: Every movement posts with quantity after, rate and value.
  2. Valuation method: FIFO or moving average per item, applied as goods move.
  3. Documented counts: Cycle counts with frozen items, variances and posting.
  4. Landed cost: Freight and duty added to the cost of the goods they belong to.
  5. Repost valuation: Back-dated corrections re-run the valuation that follows.

What sets Apragya apart as stock audit software in India

Separated duties

Receiving, adjusting and approving can sit with different roles.

Quality inspection

Incoming goods can be checked against an inspection template.

Batches and serials

Traceability for parts that need it.

AI with human review

Agents flag reorders and exceptions; a person approves.

Linked to accounts

Adjustments post to the books with the stock change.

Multi-company

Subsidiaries keep their own stock and books.

Choosing inventory management software for a pvt ltd company

A company's auditor will ask about valuation, physical verification and controls. Check that a system keeps value with each movement, records counts properly and separates duties, rather than producing a closing figure only.

Year-end spreadsheets, against Apragya

FeatureSpreadsheets at year endApragya
ValuationCalculated once a yearKept with every movement
Physical verificationOne count, loosely notedCycle counts with a record
VariancesPlugged into closing stockListed and posted with reasons
Freight and dutySpread by estimateLanded cost on the receipt
Who did whatUnclearAudit log with user, role and time

Checked against public information on 16 September 2026.

Getting started ahead of an audit

  1. Choose the valuation method for each item group with your auditor.
  2. Load opening stock at a period start.
  3. Set roles so receiving and approving are separate.
  4. Plan cycle counts to cover every group in the year.
  5. Share the count records with your auditor each quarter.

Rules on inventory reporting depend on your company's size and status, so confirm what applies with your auditor.

What it costs to start

INR 3,999
Starter, a month
Up to 10 users, CRM and HR plus Inventory and Warehousing
2,000
AI Credits
Included on Starter
Free
Up to 3 users
CRM, HR and One Additional App of Your Choice

Inventory software for private limited companies, answered

Which valuation methods are supported?
Items can be valued on FIFO or moving average, and the value is kept with each stock movement.
Can we show the auditor our physical verification?
Yes. Each cycle count keeps its scope, variances, reasons and posting.
What happens to a back-dated correction?
The valuation that follows can be reposted, so later costs stay correct.
Can subsidiaries have separate stock?
Yes. Each company keeps its own warehouses, stock and books.
What does it cost to start?
Inventory and Warehousing is available from the Starter plan, INR 3,999 a month for up to 10 users, which includes CRM and HR plus One Additional App of Your Choice and 2,000 AI Credits. Pro, at INR 7,999 a month, covers 25 users and every enterprise app.

Make the next audit a shorter one

Load opening stock, set your valuation method and run your first documented cycle count.

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