1-800-290-0629 TIPS YOU CAN FOLLOW FOR INVENTORY MANAGEMENT WITH QUICKBOOKS HELP Managing the inventory is actually important when you’re managing a small business and striving to earn profitable returns. Without knowing about the essential information related to inventory, it’s highly impossible to check the stock and arrange for shipments once the order is placed. So, if you are looking for managing the inventory, then you must go through tips and tricks mentioned below. For assistance, you can also get in touch with the support team by dialing the QuickBooks help desk phone number.
SOS inventory QuickBook’s SOS Inventory program serves to be a great tool if your employees prefer to enter the inventory details manually. Once the tracking number is assigned to the item, the team would be in a better
position to track the items based on the cost’s history and profitability. Since it’s possible to integrate SOS inventory with QuickBooks Online, your employees would save time in entering every detail and reduce typing errors. Moreover, whenever the sales order is created, invoices would be generated automatically and you would find it tough to send sales receipts. First In, First Out Known to be the most popular management system, FIFO is based on a simple concept. The items which come first are sold first. So, if you need to support the inventory with a FIFO system, you should hire people to keep a track of the expiry dates of the items. Once the items become old, you can include new items and ensure that the old items are sold first. It’s also necessary to appoint one or two individuals who would be responsible for double-checking the way in which the inventory is stored. Use the ABC system In order to direct utmost attention to items, an ABC system can help you manage goods effectively. To start off, you should go through the list of items and categorize them accordingly. While the items under the ‘A’ category are high-value products, the products in the ‘B’ category have a moderate value and the ones in ‘C’ have a low monetary value. This would help you pay attention to the items as per the impact that they can have on the financial position of the company. To know more about some more tips, don’t hesitate to contact on the QuickBooks customer support number, 1-800-290-0629.
Consistent Auditing Regardless of the system you use to store as well as manage inventory, you should schedule time for auditing the entire inventory. This would actually give an idea whether the management system needs to be examined thoroughly. Moreover, consistent auditing would help you recognize problems with the inventory before you think of spending lots of money and time. In case you donâ€™t know when the audit has to be carried out, then itâ€™s better to go for a quarterly inventory audit. After adhering to the schedule, you would get an idea if frequent audits are actually required. Once you are ready for the audit, you should remember to check if the items match the records of the accounting software. Finally, do use tools and tips to manage the inventory successfully. These would not only benefit the business but also customers.
Published on Mar 13, 2018
Published on Mar 13, 2018
Managing the inventory is actually important when you’re managing a small business and striving to earn profitable returns. Without knowing...