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Overview of QuickBooks Advanced Inventory

quickbooks advance inventory

Intuit’s QuickBooks is one of the most popular accounting software in the world. It works as an accounting solution software for various companies. Connect QuickBooks to the bank and you can review your transactions and import and categorize them automatically. It makes the presentation of data easier. QuickBooks has various editions for windows users such as Pro, Premier & Enterprise. The most advanced features come with the Enterprise solution.

QuickBooks Enterprise is one of the most sought-after versions of the parent in the market. It has integrated an advanced inventory management system into QuickBooks Enterprise edition. You won’t need separate inventory management after this as it is, integrated into the UI. Also, it allows you to manage accounting data, inventory systems, job costing reports, from a single place.

The key feature is the integration of barcodes. You just need to scan using a scanner and QuickBooks will put the data in the correct fields automatically. Not only this, but it also does the job of creating barcodes flawlessly.

Let’s look at some features attached to the integration of QuickBooks Advanced Inventory.

Mobile Inventory Barcode Scanning

It reduces the errors in data entry by speeding up the picking process. Moreover, you can keep track of products in the warehouse by scanning inventory and transferring data wirelessly. It allows sending instructions to the workers on the floor. It comes with a separate handheld device.

Track Inventory in Multiple Locations

With Advanced Inventory, you don’t need to restrict yourself to a single warehouse. Furthermore, it allows you to track inventory over multiple warehouses. QuickBooks will tell you which items require a restock.

Real-time Inventory Picking

A picklist is all to do the job. The mobile scanner receives a picklist and then start the picking process. QuickBooks allows you to keep real-time track of the picking process. You’ll receive the prompts like picked, picking in the process, and partially picked in real-time.

Also Read: How to import Inventory items in QuickBooks Point of Sale?

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Customizable Inventory Reports

This feature is a solution to the reporting problems. You can add flexibility and insight to your business. It produces reports such as inventory valuation summary, inventory stock by item, and assembly shortage by item.

Bin Location Tracking

You can track inventory items to the bin location level using this feature across multiple warehouses. You’ll see the actual numbers and locations while filling out forms. It results in efficient picking and stocking.

Barcode Scanning

Barcode Scanning makes the process of data entry very simple. You just need to scan the barcode, and QuickBooks enters the data into corresponding fields. You don’t need to worry if you don’t have barcodes, QuickBooks will create them for you.

FIFO Costing

You get an added FIFO (First in First out) costing method with the advanced inventory. Along with this, another method is the average costing method. You can switch between two methods anytime.

Track Serial Numbers or Lot Numbers

You can add serial and lot numbers to the products at the time of purchase, sale, or transfer. In addition, it allows the efficient tracking of inventory. The defective inventory can be, easily tracked using the serial and lot numbers.

Transfer Inventory from One Location to Another

It will help you balance your stock across warehouses. In case there’s a drought of stock in one place, it can be, balanced from a place where there is excess inventory instantly.

Set up Different Types of Locations

Not only warehouses, but you can also add different locations like service trucks, on shipping, on water, etc. It allows for more specific tracking of inventory.

One Interface for All

You can efficiently track the inventory at a single place. The data is, tracked from your invoices, sales, and order. All thanks to the integration of Advanced Inventory in QuickBooks Enterprise.

For QuickBooks related problems, Get in touch with our QuickBooks Error Support Phone Number and speak to Certified QuickBooks ProAdvisors.

Thank you for visiting our site. We are always ready to help you with any of your queries related to QuickBooks. We feel glad helping you, and you are always welcome over here on this platform. Further, if you ever feel the need of taking advice from your fellow business owners that happened to be our existing subscribers, you can visit our thriving QuickBooks Community. Still, if you do not find an answer for your specific question within the community, in that case, you can also post your question in the community to get the requisite answer from the contributing members

About The Author

Editorial Team

Editorial Team

At QAsolved, we are a team of skilled professionals dedicated to delivering unparalleled accounting and bookkeeping services. With backgrounds in finance and technology, our collaborative efforts focus on providing practical solutions and guidance. Our services are tailored for a range of businesses, covering advisory, CFO services, bookkeeping, and financial systems consulting. QAsolved is an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner. We offer comprehensive QuickBooks services, including consulting, integration, migration, maintenance, data conversion, training, and support, among other services. Over the years, we have assisted over 30K customers across various industries with their Intuit products.

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