Accounting for inventory

can manager be used for a pre-school? My challenge is how do you account for groceries that are bought in bulk and consumed over the term?

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Yes, it can. Since you are not buying groceries for resale, you would not treat them as inventory items. They would simply be expenses.

You can buy them as inventory
when you consume you use write off and choose expenses accounts
this is one of the solution

Maybe not Inventory, as that is generally for stuff that is to be sold or used as production materials

You could set up a B/S account Pre-paid consumables and transfer the cost to the expense as they are used

Not necessarily, Inventory can be used where the business buys in bulk items as internal Inventory and wants to expense them as used. Such as uniforms or onsite fuel storage for a transport company.

Using Inventory items allows stocktakes to be conducted.

I think using inventory and write-off is the best way to do it, if you would like to know the stock balance. Usually you will not consume the groceries in the same day, and hence it is practical to know what you have in stock. Furthermore it will be easier for you to check and compare purchase prices of previous batches.

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