While QuickBooks is commonly used to help businesses track their finances, it provides many more options. Specifically, business owners can use QuickBooks for their inventory management needs. Using QuickBooks for this reason can enable business owners to control their cash flow and their products.
Comprehensive Product Tracking
The Inventory Center provides the basis and the hub that makes other areas of the program work. Here, program users can load the products for their business in order to look at their quantities, product images, prices and invoices that are associated with each product. Additionally, program users can utilize the inventory receiving feature to track those bills and receipts that concern the products that they purchased and sold.
Taking this comprehensive item view permits business owners and pertinent staff to see all details related to products that are part of the business inventory. A sortable grid contains information about the product’s name, account, quantity, description and other categories. Additionally, program users may add or modify items in this grid. They can also copy and paste the information from different spreadsheets. Custom fields are also available to help sort the products and sub-products. Each report showcases the existing quantity and sales of the product. You can also configure automatic alerts so that business owners and pertinent staff know when product levels are under a certain level. Business owners can also see the status of their inventory so that they can ensure that inventory items are reordered as necessary.
Component Level
If you would like to learn about your inventory needs for certain projects, you can check your inventory on component levels. QuickBooks accounts for this need by having a “built assembly” feature. With this special feature, you can track individual items that are part of a bigger set. You can also see substitutions that are specific to certain customers when you need to. Quantity in stock and quantity needed are provided for each item that is part of the project.
Multiple Location Inventory
As a business owner, you want to ensure that the products you delivered arrived on time. With QuickBooks, you can include shipping labels with the customer information that is already compiled in your system. You can view and print tracking numbers and bar codes from the program directly. You can also use the backorder feature to learn about which orders still have to be shipped and which items have not yet been received.
Multiple Supplier Locations
For small businesses that operate in multiple locations that must share inventory, options are also available. The inventory management software can be consulted to see items that are at each location. They can also alter the information when products are moved between locations.