Business environments differ greatly, and manufacturers face several unique challenges – especially in today’s world! QuickBooks offers an Enterprise version that has platforms for multiple industries such as Contractors, Manufacturing, Wholesale, Retail, Non-Profit, and Accountants. We often get asked about the differences of the platform versions – are the different editions truly tailored to specific industries? The QuickBooks Enterprise 2021 Manufacturing Edition is ultimately designed for your business with the goal of supporting the production, management, and distribution of goods every day. Keep reading to learn more about the benefits of the manufacturing edition.
Features In QuickBooks Enterprise 2021
QuickBooks Enterprise has four different “metal” versions that you can choose from and each gives you a different level of features based on what you need. Silver includes the basic level of Enterprise, the Gold version adds free, unlimited payroll, Platinum Enterprise takes everything in Gold and adds Advanced Inventory (barcode scanning, lot, bin and serial tracking, multiple sites) and Advanced Pricing (custom pricing levels and groups). The new Diamond version keeps the inventory features of Platinum but swaps out the “do-it-yourself” Enhanced payroll for “full service” Assisted payroll with addon’s for time tracking with TSheets. Some of the new, key features added to all of the Enterprise versions for 2021 are:
- New Data Level Permissions – Allow specific users to view, edit, or delete only the specific customers, vendors, or data that they’re responsible for.
- New Receipt Management – Assign every expense to a project as it is incurred using only your mobile device, and even record multiple transactions at once.
- New Ability to Automatically Send Statements – Automate regularly sent statement emails and get paid faster by easily reminding customers what they owe.
- New Ability to Customize Payment Receipts – Create a more professional look with receipt formatting and the ability to include logos and other custom elements.
- New Salesforce CRM Connector – Have one source of information between sales and support so that you can answer customer questions quickly or resolve issues before they escalate.
Enterprise Manufacturing Edition Features
In addition to those features which make QuickBooks a smart choice for any company of any size, the manufacturing edition specifically functions to make manufacturing organizations run more efficiently. Offering an entire suite of features that address manufacturing challenges, this version of QuickBooks has all the tools you need to keep your inventory management and sales fulfillment on track. Savvy manufacturers can take advantage of:
- Assemblies management – Understand how many finished goods you can build with on-hand materials and subassemblies and automatically create build or purchase orders when inventory drops below preset points.
- Available to promise information – Improve order management with insight into available inventory, as well as manage large or incomplete orders, fulfillment dates, and incomplete shipments.
- Alternate Vendors Center – One source of information for vendor contact details, item and pricing information, list prices, and more.
- Bill of materials cost tracking – Track bill of materials costs for each product, including the cost of each subassembly, as well as labor and overhead, and automatically adjust assembly costs and item prices when component costs change.
- Advanced pricing strategies – Customizable and automated pricing rules help protect your margins, save you time, and reduce errors.
- Customized user permissions – Delegate with confidence while protecting sensitive data by granting access only to approved users.
- Track and transfer inventory between multiple locations – Easily track product movement and storage down to the bin or pallet across staging areas, multiple warehouses, trucks, and even ships prior to import.
- Mobile barcode scanning – Automate more of your manufacturing business by speeding up the picking process and reducing data entry errors.
- Lot and serial number tracking – Assign serial numbers to individual items to check warranty coverage, match specific customers to purchased products, and more.
- Cycle count – Count inventory in real-time without having to shut down your warehouse.
- Purchase order management – Improve the efficiency of your purchase order management and which purchase orders are outstanding.
- Landed Cost – Factor in shipping charges and identify the true cost of your products by factoring in freight, duties, taxes, tariffs, currency conversion, and insurance allowing you to maintain proper margins.
Manufacturing Industry-Specific Reports
It’s essential that manufacturers have accurate and efficient inventory tracking and reporting. The manufacturing edition supplies several customizable reports that place key data in front of the people who need to see it when they want it. The powerful reporting options allow business leaders to see their overall profitability or profitability by item at a glance and forecast future demand. You can also leverage the following reports, designed just for manufacturers:
- Inventory valuation summary – Understand how much your inventory is worth and how much you have on hand, what it costs, and sale prices.
- Inventory stock status by item or vendor report – See what inventory you have available, on the sales order, and available for assemblies.
- Assembly shortage by item – Get a snapshot of what inventory you need for key assemblies, and see when the next delivery date of each item is.
- Alternate vendor reports – Improve your visibility into alternate vendors and simplify reordering processes by listing them in key inventory reports like inventory stock status by item and inventory valuation summary.
Manufacturing businesses constantly need to think about how to keep costs down and profits up. Insight into real costs – from raw materials to finished goods – is important for remaining profitable and planning for the future. QuickBooks Enterprise 2021 Manufacturing Edition was created to automate more inventory processes and find more efficiencies across your builds. To learn more about the manufacturing edition and how it can help your organization, call our experts directly at 866.949.7267 to request a free consultation or click here to register for a 30-day test drive of the software.