QuickBooks Advanced Inventory: A Brief Guide

QuickBooks Advanced Inventory is an add-on module that you can subscribe to in QuickBooks Desktop Enterprise. It provides a comprehensive set of inventory management tools that can help businesses track, organize, and manage their inventory more effectively. This guide will delve into the features and benefits of QuickBooks advanced inventory, QuickBooks enterprise advanced inventory, and QuickBooks online advanced inventory.

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Understanding QuickBooks Advanced Inventory

QuickBooks Advanced Inventory is designed to help businesses manage their inventory with greater precision and efficiency. It offers features such as multiple location tracking, bin location tracking, barcode scanning, FIFO costing, and lot or serial number tracking. These features can be particularly beneficial for businesses with complex inventory needs.

QuickBooks Enterprise Advanced Inventory

QuickBooks Enterprise Advanced Inventory takes inventory management to the next level. It offers all the features of QuickBooks Advanced Inventory, plus additional capabilities like enhanced pick, pack, and ship functionality, and mobile barcode scanning. This makes it a powerful tool for businesses that need to manage large volumes of inventory across multiple locations.

QuickBooks Online Advanced Inventory

QuickBooks Online Advanced Inventory is a cloud-based solution that offers similar inventory management features as the desktop version. It allows businesses to track inventory across multiple locations, set reorder points, and manage their inventory in real-time from any device with an internet connection.

Here are the steps to activate QuickBooks Online Advanced Inventory:

Navigate to 'Settings' (represented by the ⚙ icon) and click on 'Account and settings'.
Select the 'Sales' tab.
In the 'Products and services' section, click on the Edit icon (represented by the ✎ symbol).
Enable the 'Show Product/Service column on sales forms' option.
Activate the 'Track quantity and price/rate' and 'Track inventory quantity on hand' options.
Click 'Save' to apply the changes, then select 'Done'.

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For more in-depth set-up instructions, visit: Set up Advanced Inventory

Advanced Inventory in QuickBooks Desktop

Advanced Inventory in QuickBooks Desktop provides a robust set of tools for managing inventory. It includes features like bin location tracking, which can help businesses keep track of where items are stored in their warehouse, and FIFO costing, which can help businesses accurately calculate the cost of their inventory.

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QuickBooks Advanced Inventory offers a comprehensive set of tools for managing inventory. Whether you're using QuickBooks Desktop Enterprise, QuickBooks Online Advanced, or QuickBooks Desktop, the advanced inventory features can help you manage your inventory more effectively and make more informed business decisions. With its robust capabilities, QuickBooks Advanced Inventory is a powerful tool for any business with complex inventory needs.

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FAQs

What does advanced inventory do in QuickBooks?

Advanced inventory in QuickBooks provides a comprehensive set of tools for managing inventory. It allows businesses to track inventory across multiple locations, use barcode scanning for quick and accurate data entry, and use FIFO costing to accurately calculate the cost of their inventory.

Does QuickBooks Advanced include inventory?

Yes, QuickBooks Advanced includes a robust set of inventory management tools. These include multiple location tracking, bin location tracking, barcode scanning, FIFO costing, and lot or serial number tracking.

How do I get advanced inventory in QuickBooks?

To get advanced inventory in QuickBooks, you need to subscribe to the Advanced Inventory add-on module in QuickBooks Desktop Enterprise. Once you've subscribed, you can turn on the Advanced Inventory features in the Items & Inventory Company Preferences.

Does QuickBooks Online Advanced track inventory?

Yes, QuickBooks Online Advanced includes inventory tracking features. It allows businesses to track inventory across multiple locations, set reorder points, and manage their inventory in real-time from any device with an internet connection.

How to turn on and off advanced inventory in QuickBooks Enterprise?

To turn on the Advanced Inventory feature in QuickBooks Enterprise, go to the Edit menu, select Preferences, then Items & Inventory, and then Company Preferences. Check the box for Inventory and purchase orders are active, then check the box for Advanced Inventory Settings. To turn it off, simply uncheck the box for Advanced Inventory Settings.

What are the benefits of using QuickBooks Advanced Inventory?

Using QuickBooks Advanced Inventory can provide several benefits for businesses. It can help improve inventory accuracy, increase efficiency in inventory management, and provide real-time visibility into inventory levels. Additionally, it can help businesses make more informed decisions about purchasing and sales.

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