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For Manufacturers, End-to-End Inventory Tracking Is Here

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For Manufacturers, End-to-End Inventory Tracking Is Here

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Christina-Reynolds-for-web-2.pngAt Supporting Strategies, we often recommend that our clients use QuickBooks Online for their bookkeeping and accounting needs because it is inexpensive and offers many time-saving features. But for those in the manufacturing sector, we recommend QuickBooks Enterprise — in particular, QuickBooks Desktop Enterprise Advanced Inventory.

Why? For one thing, the Advanced Inventory module offers sophisticated inventory tracking across multiple locations. Once you enter an item's serial number or lot number, you can track that item anywhere — right down to a specific bin. That makes it great for FIFO inventory management. Advanced Inventory's barcode-scanning feature streamlines reordering, while its real-time tracking lets you adjust on the fly to shift inventory from one location to another to avoid the dreaded backorder.

But it gets even better. Advanced Inventory syncs with a host of third-party applications, so you can track inventory all the way from purchase order to payment. Here's how it works with three popular apps:

  • Salesforce CRM: Here's a customer relationship management app that puts all data regarding your customer base — including each customer's complete sales history — in one place. And because it's compatible with Advanced Inventory, you can estimate (and anticipate) each customer's next purchase order. The system updates in real time through integration with QuickBooks Enterprise, making it easy to replenish inventory.
  • Bill.com: This digital business payment system syncs with both Advanced Inventory and the A/P system in QuickBooks Enterprise. As a result, you'll instantly know how much inventory you have at a given location as invoices, sales orders and purchase orders enter the system.
  • ShipStation: This advanced shipping software works with QuickBooks Enterprise as it tracks all aspects of fulfillment. So Advanced Inventory documents quantities and populates sales orders and invoices with tracking information.

The bottom line? With QuickBooks Desktop Enterprise Advanced Inventory and compatible third-party add-ons, you can more accurately forecast your orders and adjust inventory accordingly. You can then track each item you sell all the way from purchase order to payment.

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This website is created by Supporting Strategies to provide general bookkeeping and accounting information only. Supporting Strategies does not provide tax, legal or accounting advice, and the information contained herein is not intended to do so. As such, the information provided should not be used as a substitute for consultation with professional tax, legal, and accounting advisors, and you should consult with a tax, legal and accounting professional before engaging in any transaction.