Micro pharmaceutical entities, as commercial enterprises, are based on the purchase and sale of pharmaceutical products, being this the main source of income generation, it is important that the management and control of the existence of merchandise is adequate for them to obtain profitability and in turn remain in the market over time.
In this sense, it is said, then, that inventories are the fundamental axis of all organizations, being the set of goods owned by a company, constituting the current asset items in the statement of financial position; while in the statement of income it is recorded within the cost of sales.
It is important to point out that inventory is considered a non-monetary item in inflationary terms, however in the case of pharmaceutical companies, inventory is considered a monetary item due to the fact that the existence of pharmaceutical products have the taxed price intended for sale, therefore micro entities must adjust to it in order to be in compliance with what is required by law.
Therefore, all entities, regardless of the activity they engage in, are subject to the legal regulations in force in any country. Micro pharmaceutical entities, likewise, being organizations, must comply with the formal duties, as well as special records required by the tax administration, one of them is to submit detailed manual or magnetic records of inputs and outputs of merchandise of monthly inventories, as well as withdrawals and self-consumption of goods and services.
Failure to comply with the provisions of the laws and ordinances for such purpose, would be non-compliance and will bring fines and penalties that could lead to the permanent closure of the establishments, which leads to losing their invested capital for not making proper use of legal, administrative and financial regulations..