QuickBooks Enterprise

QuickBooks Desktop Enterprise Advanced Inventory Management Review 2022

QuickBooks Desktop Enterprise Advanced Inventory Management

If you are a manufacturer, wholesaler, or eCommerce business, then you need robust inventory management software to track inventory levels, sales, orders, and deliveries. QuickBooks Desktop Enterprise has an enhanced inventory management module that helps you perform advanced inventory processes, such as multi-location tracking, bin tracking, and barcode scanning.

Let’s take a closer look at the Advanced Inventory management system in QuickBooks Enterprise and see if it’s right for your product-based business.

Understand Product Costs Better with Landed Cost

The Landed Cost feature in QuickBooks Desktop Enterprise helps you track actual product costs by factoring in different elements, such as insurance, shipping, freight, insurance, and miscellaneous items. A landed cost calculation is extremely tedious and time-consuming when done manually, but QuickBooks Desktop Enterprise can help you eliminate the painful manual workflow. When landed cost is set up in QuickBooks, then it will help you capture all costs associated with the acquisition of goods, helping you accurately calculate inventory valuation.

If you would like to try the full version of QuickBooks Enterprise Desktop, click here to get a free, 30-day no-commitment trial plus access to the Resource Guide that lists all the features available in Enterprise.

Track Inventory Across Multiple Locations

If you’re managing stocks across multiple warehouses or locations, then you can use QuickBooks Enterprise to track how many items are available, on a purchase order, or on a sales order across each location. Enterprise will automatically calculate which stocks you need to replenish as well as identify stocks that are in excess at one warehouse (e.g. due to low demand) and recommend redistributing the items to other warehouses

Track by Lot, Bin, or Serial Numbers

Depending on your needs, you have the option to track inventory by lot, bin, or serial numbers within the Advanced Inventory module. Tracking by lot numbers is used when a  batch of products is manufactured or a lot of goods arrives in a warehouse and each unit from a particular lot is assigned a lot number. Lot tracking is useful for custom manufacturing, food and beverage manufacturing, laboratories, and medical businesses. Serial number tracking is used for tracking individual units rather than tons of shipments or production batches. For instance, electronic devices such as phones and laptops have unique serial numbers to differentiate them from other components of the same models. 

Reduce Errors with QuickBooks Barcode Scanning

If you need to track many stock-keeping units (SKUs), a barcode inventory system can help you track items wherever they go as they get scanned every time they are delivered to new locations. This means you can track your items in real-time by simply logging into your computer. When you scan a barcode and enter a new purchase order, sale, or shipment, the balance sheet in QuickBooks Enterprise is automatically updated. From here, important documents like invoices and packing slips are created. This helps you save from the task of manually updating your records, while also having the ability to track what information was added by a certain user to ensure accuracy and accountability.

Learn how to set up and use barcode scanning in QuickBooks Desktop.

Track Inventory using FIFO 

QuickBooks uses average cost to calculate the cost of inventory. However, with QuickBooks Enterprise, you have the option to use the First-in | First-out (FIFO) method to track inventory items, giving you more flexibility. Enterprise helps you gain a more accurate accounting of your cost of goods sold (COGS) by tracking the cost of labor, including other expenses like freight and insurance. You can also run customizable inventory reports to gain deep insights into the profitability of your business.

Find out why QuickBooks Desktop Enterprise is the best inventory management solution.

Have Questions? Need Help?

If you have any questions about the features of QuickBooks Enterprise, you can give us a call at 866-949-7267 and one of our experts can walk you through the details. 

Not using QuickBooks Enterprise? Try it for 30 days FREE!

Just register for the free trial below and we will send you everything you need to evaluate QuickBooks Enterprise including 30-day access, sample company files, and the full 88-page QuickBooks Enterprise Guide that details everything that you can do in the software.  Free end-to-end consultation and support are included so if you need any help along the way, just let us know!

Free TrialGet 20% off for life

Related Posts

Leave a Reply

Your email address will not be published.