EAN code - What is an EAN number? Read more here

Learn about EAN codes and their importance for efficient goods handling and invoicing in your business and online shop. Discover how EAN codes can help you streamline your processes and improve the accuracy of your inventory management system

Optimise your inventory management and invoicing with EAN codes: Unique product identification from production to sales

What is an EAN code?

EAN code stands for European Article Number and is a standardized barcode used to uniquely identify products. EAN codes typically consist of 13 digits, but there are also EAN-8 codes used for smaller products. This code allows retailers and manufacturers to track products through the supply chain, from production to sale.

Use of EAN codes in accounting

In accounting systems and webshops, EAN codes play an important role in inventory management, invoicing, and order handling. When products are scanned at the point of sale, inventory is automatically updated, and the sale is recorded in the accounting system. This allows for precise tracking of inventory and sales data.

For businesses selling products through multiple channels, EAN codes help ensure that the same product is consistently recorded across all sales channels. This is essential for accurate inventory management and financial reconciliation.

Calculation and usage example

To illustrate how an EAN code is used in practice, let’s look at an example:

Example: Product registration

Imagine your webshop sells a specific type of shampoo. This shampoo has an EAN code of 4006381333931.

  1. Product Registration: You enter the shampoo’s details into your system, including the EAN code 4006381333931, product name, price, and stock level.
  2. Sale: A customer buys the shampoo from your webshop. At checkout, the EAN code is scanned, which deducts the shampoo from the inventory and records the sale in your accounting system.
  3. Inventory Update: The inventory is automatically updated. If you started with 100 units and the customer buys 1 unit, your new stock level will be 99 units.
  4. Invoicing: The sale of the shampoo is recorded with the EAN code on the invoice, ensuring precise tracking and reconciliation in your accounting system.

Thus, the use of EAN codes simplifies many processes in inventory management, sales, and accounting.

Advantages of EAN codes

  • Efficiency: Automating inventory management and sales transactions reduces manual errors and saves time.
  • Accuracy: Unique product identification ensures correct recording and tracking of goods.
  • Integration: Easy integration with various systems and sales channels, improving operational management.
  • Global Standard: EAN codes are a global standard, making international trade easier.

Conclusion

EAN codes are a fundamental component of modern accounting and inventory management systems. By using EAN codes, businesses can ensure accurate product tracking throughout the supply chain, improve efficiency, and reduce manual errors. In webshops, EAN codes help simplify product registration and inventory management, ultimately leading to a better customer experience and more streamlined operations.

Learn about EAN codes and their importance for efficient goods handling and invoicing in your business and online shop. Discover how EAN codes can help you streamline your processes and improve the accuracy of your inventory management system