Bob Richardson

LIFOPro is the most trusted provider for turnkey outsourcing solutions & LIFO software. We offer the most comprehensive documentation & reporting packages, and also provide a full range of LIFO services for both financial reporting and tax. Numerous clients outsource both their book & tax LIFO calculations in order to simplify & streamline the reporting processes and reduce administrative burdens. Best of all, our recurring calculation service fees are typically about one third of the cost of other LIFO service providers. More than 50 companies have switched from other service providers to LIFOPro. Our client retention is close to 100% and none of our clients have switched to other service providers!

The LIFOPro Difference

  • Superior reporting & services
    • Most valuable solutions & trusted provider for the biggest & smallest companies on LIFO
    • Comprehensive outsourcing solutions for all LIFO methods other than auto dealer alternative LIFO method users
    • Pair turnkey book & tax solutions to simplify financial reporting & tax LIFO calculation, not just the tax LIFO calculation
    • Highest quality LIFO reporting packages provide the following report formats absent from competitors reports:
      • LIFO inventory balance, LIFO reserve & LIFO expense (income) by year for all periods on LIFO
      • Single report package for companies with multiple pools, including pool detail & all pools combined total formats
    • Get a comprehensive snapshot of LIFO for all years within a single report package & eliminate the need to reference prior period reports to do so
    • Avoid having to manually combine the totals from multiple report packages to determine key LIFO figures (for companies with multiple pools)
    • Fast turnaround times guaranteed to meet all required deadlines
  • Lowest annual calculation services cost
    • Recurring annual calculation service fee guaranteed to be one third of competitor’s cost
    • Up to three interim estimates included with engagement at no additional cost
    • Fixed fee that is guaranteed to remain the same amount for at least 3 years & requires no multi-year commitment

How we Guarantee our LIFO Calculation Costs are a Fraction of our Competitors

  • Company completes Fee Quote Request Form and/or provides any of the applicable items to LIFOPro (or emails such documentation to LIFOPro):
    • Current service provider’s annual LIFO calculation fee amount or fee schedule (required for companies using a LIFO service provider)
    • Current service provider’s prior period LIFO report package to LIFOPro determine engagement scope (optional; a free set of LIFOPro reports will be provided with your fee quote for those who provide us this documentation)
    • LIFO calculation documentation from last period closed (if calculation is not outsourced)
  • Proposed recurring annual calculation services fee amount determined as the lower of the following two amounts:
    • Independent fee quote based on prior period’s LIFO calculation documentation & engagement scope
    • 1/3 of current service provider’s prior period cost
  • LIFOPro delivers fee quote & sample LIFOPro report package to company (report package will show the results of your company’s last LIFO calculation if your current LIFO service provider’s prior period LIFO PDF report package or prior period’s LIFO calculation documentation is sent to LIFOPro)

How Our Engagements Work

LIFOPro Fee Quote Request Form
Turnkey Outsourcing Solutions Slide DeckLIFOPro Fee Quote Documentation Request List

Turnkey Solutions Fee Quote Request FormLIFOPro's 2021 Year End SOC Report

LIFOPro Fee Quote Request Form