One of the foremost features of QuickBooks is managing the inventory of the organization. From the date of purchase of the inventory to how much inventory is left, everything can be managed and this becomes easy with “QuickBooks Serialized inventory“.
By keeping a record of the inventory in the software you can check the inventory in and out. QuickBooks is a big rapid software that takes care of all the accounting needs of the organization. The most and the least sold products can be recognized which would help document the pros and cons of the organization.
- 1 Advantages of QuickBooks Serialized Inventory
- 2 Inventory Adjustments in QuickBooks
- 3 Get solutions to all of your accounting and bookkeeping problems with industry leading experts
Advantages of QuickBooks Serialized Inventory
Mobile Inventory Scanning
With the barcode involved in all the inventory, the process initiates a fast accelerated picking of inventory which further helps to reduce the errors which are caused due to manual entry of data. It further helps in maintaining a check on the warehouse inventory and sending the accessible workers with the sales orders.
Modified Sales order and inventory System
The serialized inventory system helps to pick the urgent and important orders on priority. It showcases essential information like the shipping date, availability of the product, and the cost of the order. The list can be prepared according to the requirements which can be completed in warehouses in different locations.
Improved Inventory Reports
There are different inventory reports which help to manage the stock better and in a more efficient way. Inventory Valuation Summary report, inventory by Item, shortage by item, etc reports are easily available. It enhances the technique of tracking the inventory.
Get insights into every Warehouse
For each location of your inventory pile-up, you can check on the number of items, sales orders, purchase orders, etc. QuickBooks from here on will track every inventory item in your warehouse.
When the stocks are getting low at one warehouse, you can easily transfer the inventory to a particular location without any delay or loss of business.
Inventory Adjustments in QuickBooks
- Select “Lists” or “Vendors.”
- Choose the Items tab. This can be located under the list tab. You can even choose the Inventory Activities section which can be found under the vendor’s option.
- Within the Pop up that appears, choose the “Adjust Quantity” button.
- Press enter your date of purchase.
- Select an expense account (an inventory item) from the adjustment list you opened up.
- Verify the customer’s job, if applicable.
- Checkmark the box beside “Value Adjustment”.
- This will show a more detailed view of your entry; though it is not necessary to do that.
- Feed in your new count by choosing the New Quantity tab.
- Please note this will be only visible if you have previously selected the value adjustments tab.
- Use the “Memo” text box to write a short description or note to describe what you’ve done, who was involved in counting inventory, or other notes, if necessary.
- Save all your preferences and close the window.
- With the following adjustments made QuickBooks will serialize your inventory with your new count.
QuickBooks have been enhancing the Inventory software with every update. Since its inception, the inventory system has been growing with more features and automatic transitions. It has reduced the manual workload in an organization which has enabled the reduction of errors in inventory management. While there are different techniques today for accomplishing the required project, it is also a bit complex. You can face quite a handful of situations with the QuickBooks serialized inventory system wherein it would be difficult to understand the solution. Thus for that, you can always reach out to us.
For any concerns, you can always contact our QuickBooks inventory Support team at the QuickBooks Support number which comprises QuickBooks professionals who would guide you through the software and maintain an efficient working of the company. They are available 24*7 for your concern.