QUICKBOOKS INVENTORY MANAGEMENT
Get the bar-coding abilities and inventory management which you have missed. Passport’s QuickBooks integration enables you to perform QuickBooks inventory management tasks using barcode scanners, which streamlines manual transactions and the process of invoices, generating bills, and item receipts. QuickBooks bar-coding makes accounting and inventory management easier with barcode scanning capabilities.
How can QuickBooks inventory management software help your business?
Inventory management is software for tracking inventory since it flows in and out of a business. Essential to all operations, QuickBooks inventory management software manages the sales, purchasing process, order and warehouse management, and tracks inventory levels and locations, and product availability.
Many small businesses think they don’t need inventory management software and just manage with spreadsheets, QuickBooks, and manual inventory counts. But, today’s hyper-competitive environment requires technology to succeed. QuickBooks Inventory Management does a lot more than merely track inventory – it manages vendors, customer care, purchasing, order management, and fulfillment and much more.
The difference between QuickBooks inventory management software and accounting software
Accounting software manages accounts receivable, accounts payable, and payroll. You can typically send invoices, track your expenses, pay vendors, and create a profit and loss statement or a balance sheet. Your accountant can normally output a file to send to them and log in to your accounting system or to handle taxes or other functions. Most businesses have a number of resources invested in inventory. Yet, many businesses attempt to run their inventory with accounting, and spreadsheets software. Accounting software can do many great things, but the QuickBooks inventory management is not one of them.
But, while accounting software has QuickBooks inventory management features included, it is not designed to control and manage the functions of an inventory-centric business.
Organizations that make use of QuickBooks for their accounting and financial requirements have three alternatives in case they are looking for QuickBooks inventory management solutions:
- Use QuickBooks inventory management to upgrading to QuickBooks Enterprise Solutions which is a comparatively comprehensive rendition of the software.
- Customized software based on the company’s operations to replace QuickBooks for an ERP system.
- In addition to using QuickBooks to a third – party inventory management system.
Keep track of everything purchase and sell with QuickBooks Inventory Management
- QuickBooks Inventory Management can help you to keep a track of inventory by updating and documenting the quantities of stock. Depending on this, it will be easier to determine what products are selling more to the things that you will need to reorder.
- Inventory Management can help you to evaluate your inventory in real time. The values of the inventory are auto-updated in the balance sheets which depend on the sales order that is being fulfilled.
- QuickBooks Inventory Management assists you to sync with all your purchase orders.
- It helps you to document the products you have ordered for organizing their contact details from vendors.
- QuickBooks Inventory Management assists in the organization of stock along with its categories, images, and prices.
- Inventory Management calculates the price of each product that has been sold based on FIFO (First In, First Out).
If you use QuickBooks
For businesses, that already uses QuickBooks for accounts and managing order, you should consider the first option that you have familiarity with the interface of QuickBooks, the learning curve for QuickBooks Inventory Management software will be shorter. Since the records are already fed into QuickBooks, it will help users to integrate the data into the QuickBooks Inventory Management software. The software extends the components of QuickBooks to enable users to sync as well as authenticate the distinctive items in inventory such as PO, vendors, Invoices, stock records, etc.