QuickBooks Enterprise 2021 Edition provides several great features that help companies of all types and sizes to manage their business more effectively. In addition to functionality like remote capabilities that allow workers to access the platform from anywhere, QuickBooks Enterprise Industry Editions offer industry-specific versions such as Retail, Non-Profit, Contractors, and others. In this post, we’re particularly interested in the Wholesale and Distribution edition. Keep reading to learn about the features that make this version appealing to wholesalers and distributors.
Optimize Wholesale and Distribution Business with Specialized Functionality
The goal of QuickBooks Wholesale and Distribution Edition is to manage purchasing, distribution, inventory, sales order fulfillment, and accounting—all in one place. The wholesale edition aims to help companies run their business accurately and efficiently from the warehouse to a customer’s doorstep, leveraging functionality such as:
- Total costs of product – The landed cost helps you to identify the true cost of your products by factoring in freight, duties, taxes, tariffs, currency conversion, and insurance.
- Advanced pricing strategies – Customizable and automated pricing rules help protect your margins, save you time, and reduce errors.
- The ability to set prices based on markup and margin – Automatically update prices to maintain the markup you need for a profit margin when your wholesale costs change.
- Optimized purchase orders – Improve efficiencies by understanding which purchase orders are outstanding, and assigning recipients directly in QuickBooks without printouts.
- Vendor contract and pricing comparisons – With all vendor contact, item, and pricing information centralized, you can easily compare costs and other factors to ensure you’re getting the best deal.
- A centralized source of vendor information – Save time and reduce errors by batch-importing vendor price lists and automatically populating purchase orders with vendor information.
- The ability to track and transfer inventory between locations – Track inventory in a way that works for your business. Quickly track or transfer quantity, location, and value of the product.
- Barcode label prices – Provide greater visibility into pricing for employees and customers.
- Cycle count – This feature lets you count inventory in real-time without having to shut down your warehouse. Use mobile barcode scanners, and scan and upload inventory counts from different warehouses to a central inventory dashboard.
- Expanded data capacity – Manage up to 1 million customers, vendors, or inventory items plus additional classes and custom fields.
Streamline Order Management and Automate Workflows
QuickBooks Wholesale and Distribution 2021 Edition also improves order tracking and sales fulfillment. Key e-commerce integrations such as Shopify and Amazon allow you to be everywhere your customers are. The platform also provides one central dashboard that allows users to manage their entire pick, pack, and ship workflow from sale to delivery. They’ve also added new features that can automate regularly sent statements and customize payment receipts. In addition, a flexible reporting package provides insights that are key to wholesale distributors, such as:
- Alternate vendor reports that provide transparency into all available vendors
- An inventory valuation summary report that displays how much inventory you have on hand, what it costs, and what the sales price is.
- Open sales order reports by customer or item
- Sales and profitability reports by month, product, customer, and sales rep
New Features For QuickBooks Enterprise 2021
Layered on top of those industry-specific features, remember that by using QuickBooks Enterprise Wholesale and Distribution, users will experience the benefits that come with using the powerhouse that is Quickbooks, such as:
- 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.
You may also want to learn more about the QuickBooks Enterprise Manufacturing Edition with specialized features for optimizing builds and assemblies. Our clients love this edition for protecting profit margins, centralizing vendor information, automating inventory management, and streamlining order management. If you’re interested in learning more about how wholesale distribution businesses use Enterprise to optimize purchasing, pricing, and sales, call our experts directly at 866.949.7267 or click here to test drive QuickBooks Enterprise free for 30 days.