What is QuickBooks Enterprise Advanced Inventory?
Have you outgrown elements of QuickBooks and currently you wish additional advanced inventory options to handle progressively complicated supply challenges? It’s a little more step-by-step because of the complexity of the feature itself unfortunately, this is the case for many QuickBooks users, especially ones who have been with the solution for years. Yes, it’s true that QuickBooks Enterprise has come out with some advanced inventory features in the past few years, which may help improve your business’s processes. But for the most part, it’s still really limited and leaves a lot to be desired for businesses needing more functionality to better manage their inventory.
QuickBooks Advanced Inventory features have started in QuickBooks Enterprise edition, this advance inventory management tools that make it easier to count, track, and report on the commodities that make up your business. By activating the advanced Inventory add-on can boost your inventory management. This advance inventory feature tracks the inventory store from different locations.
From the outside manufacturer, it can easily manage your inventory in your business, let us look at some of the functionality of this product and its features and This feature available with QuickBooks enterprises only but there are two types of inventory option we have the one is standard inventory and advance inventory but both are available in QuickBooks enterprises edition in one line We must say these great features make your business easier and time-saving.
In QuickBooks Enterprise Silver and Gold comes with Standard Inventory feature:
- Inventory Receiving, Change Assembly Components On-the-fly, Available to Promise.
- Sales Order Fulfillment, Unit of Measure Conversion, Bill of Materials Cost Tracking.
- Store Manufacturer’s Part Numbers on Items, Multiple Shipping Addresses per Customer.
- Bill of Materials Management
- Back Order Functioning on Sales Orders and Invoices
- Back Order Functioning on Purchase Orders
- Cost Management and Sales Management, Multiple Sales Order on a Single Invoice.
It Works right inside QuickBooks Enterprise:
Separate data integration or separate software is not required as it works inside features in QuickBooks Enterprises. Followings are the features that you can save your time.
- Track the Serial Numbers or Lot Numbers.
- Tracking the Inventory in different Locations.
- Tracks all the Inventory at One Place.
- There is Flexibility to Set Up the Various Types of Locations.
- Track the Bin Location.
- Barcode Scanning.
Advanced Inventory features and benefits:
Pricing and Discounts: To improve customer loyalty and boost sales creating discount plays a very vital role. With QuickBooks, you are limited to a get percentage discount and a certain number of dollars taken off the price. Two types of discount are not restricted to Fishbowl. It also helps you to with flexible with your discount.
Transfer orders: QuickBooks requires users to record a purchase or sale in order to transfer products from one location to another, even if they’re not actually being bought or sold but simply moved internally. Its features transfer orders, which can be used for a very purpose. Purchase or sales are not included in a transfer order. It just ensures the correct location of each inventory.
Barcoding: Barcoding feature is an important feature but QuickBooks Pro and Premier do not have the ability to scan barcodes outside the system, but QuickBooks Enterprise does allow barcode scanning Fishbowl Go is a third-party app that allows barcode scanning for many jobs beyond picking items to fulfill orders. It’s also used to count your inventories in hand instantly. And that’s just scratching the surface. QuickBooks enterprise offers much more comprehensive barcoding functionality.
Return Merchandise Authorizations: A Return Merchandise Authorization helps in processing product return from customer almost all parts that would be returned on RMA would be repaired and returned to customers. Some of the customers take debit and someone denied. You can track how many RMAs you have in process and you can also a similar process for sending back and tracking the units to your vendor to be repaired.
Bin Location Tracking Feature: In the QuickBooks Advanced inventory the bin location feature will allow you to track specific inventory items down to the bin location level within one or more store as well. You can also sort lists pick and item receipts by location which makes picking and stocking easier.
Transfer Inventory from One Location to Another location feature: One of the main feature in Advanced Inventory to transfer inventory stock. For example, if any of location is running low on inventory you can transfer stock from another location so that you can keep the balance where you need them to be.
FIFO Costing feature: Track inventory uses FIFO (First-In-First-Out) for costing or average costing.
Set up Advanced Inventory
Inventory stored can be the rack from different site or location as soon as you enable or tune on advanced inventory feature. It makes managing inventories of any size a simple task, by using the barcodes you will get the complete integration with QuickBooks right away. Setting up the advanced inventory can assure that the quantity on hand by the site is accurate because you might store inventory at different warehouses, such as in multiple trucks, in different areas within a warehouse, at consignment locations or at outside manufacturers.