Inventory tracking can be problematic. Too much inventory on hand and you are tying up capital unnecessarily. Too little and you have back orders, maybe losing sales altogether. And you lose total control when physical inventory gets out of whack with the books. Competent inventory management is crucial for any company that sells product.
Inventory ties up too much money and time to settle for anything less than an accounting system that is designed to meet the needs of your specific operation. This is where QuickBooks can help. If you have very complex inventory needs, it may not be enough. But it should please small businesses who need to:
- create records detailing products and services
- build assemblies
- keep track of basic costs and accounts
- have inventory information available when creating forms like invoices and sales orders
- create reports that help track what’s there and what’s needed
Once you’ve set up your inventory records in QuickBooks, you’ll know–in real time–what you have and what you need. You can conduct physical inventory counts and and set up a purchasing process that will provide you with the information necessary to replenish inventory in a timely fashion.
Given the complexity and critical nature of inventory management, you may want to consult with the experts at Net Plus Consulting. We understand the process thoroughly. And if your inventory needs are a little more complicated, we can help you explore Fishbowl Inventory, an integrated solution that picks up where QuickBooks leaves off.
Net Plus Consulting is a nationwide service provider. To get started, contact us to arrange a free one-hour consultation. We can help you determine the best way to implement a complete inventory management package tailored to your business needs and operation. Call us at (212) 461-3300 or visit our website.