Quickbooks is a powerful tool for all types of businesses. You can even use Quickbooks for inventory-based businesses. As a business, it’s important that you always look for ways to streamline your business. In this episode of MissionBusinessPodcast.com, Bernard Roesch talks about how to streamline your inventory process using Quickbooks.
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Quickbooks For Inventory-Based Businesses
You can use Quickbooks in an inventory-based business by setting up an item list with inventory types.
- You can track the quantities received, sold, and value of your inventory at any given time.
- This is all tracked as part of the transaction workflow.
- When you purchase items, the inventory is updated. When you sell those items, the inventory is updated, and all calculations happen in Quickbooks automatically.
Streamline With Quickbooks Reorder Points
You can use reorder points in Quickbooks Online to be alerted when to reorder specific items that are low on inventory. This is a pretty standard inventory tracking feature, but is new for Quickbooks Online in 2016.
Here’s how it works.
- For each inventory item, you define the quantity below which you should reorder.
- When you reach that point, Quickbooks Online will alert you.
- From there, you can click reorder, which creates a purchase order and you can then reorder it.
Do You Need Help
You can also visit MissionBusinessPodcast.com for more insights that Bernard has been sharing with us in the previous episodes.