Can You Manage Inventory With QuickBooks?
With more than 92.4% of retail businesses using QuickBooks for accounting, the question “Can I manage my inventory with QuickBooks?” has undoubtedly been asked many times. Learning a new software system can be a hassle, so of course you’re looking for the most painless transition. Let’s take a closer look to see if QuickBooks can truly “manage your stuff.”
It’s important to note that there are several different versions of QuickBooks, each with different features. I’ll mainly focus on QuickBooks Pro and Premier, and I’ll specifically point out when I’m talking about QuickBooks Enterprise.
What QuickBooks Can Do
- Accounting methods
- Bill of materials and work orders
- Credit card processing
- Multiple location part tracking
- Order picking (one at a time)
- Remote access (VPN only)
- User access rights (role-based)
- Variable pricing and discounting
What It Can’t Do
- Barcode printing and scanning
- Displays work-in-progress status (QB Enterprise has some functionality for this feature)
- Drop shipping (QB Enterprise has some functionality for this feature)
- Part tracking
- Product/kit configurator
- Unit-of-measure conversions
As you can see, QuickBooks might be able to handle more than you thought in regards to inventory, but it can’t do all the heavy lifting. It’s a powerful tool, but it wasn’t fashioned to meet all the needs of the various industries out there: manufacturing, wholesale/distribution, retail, and service.
Fortunately, if you need expanded functionality then you don’t have to leave the QuickBooks platform. There are many add-ons in Intuit’s marketplace that allow you to manage your inventory without having to manually migrate all of your data to a brand new system. When the need arises to upgrade to inventory control software, remember to shop around and test out the software before you buy. You may not need to look too far.