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Accounting for your inventory– should you integrate?

When you combine the power of QuickBooks® to manage your financial operations with a robust, feature-rich inventory management solution, you better manage your business. Automating the management of your warehouse inventory will result in reduced labor costs and increased supply chain efficiency. With accounting integration, you can easily reconcile data and accurately state your inventory in financial reports.

Optimizing your inventory process - from receipt to picking, processing and shipping – gives you a competitive advantage

Real-time data capture supports data integrity Reduce the risk of errors and ensure that discrepancies are a thing of the past. Detailed reporting empowers forecasting Learn the cyclical inventory movement you experience year over year so you can source, hold and deliver precisely what you need. Automated solutions simplify your audit and reconciliation process Real-time, accurate data is accessible anytime - so you have confidence business operations are in sync.

Optimizing your inventory process does not happen on an island

QuickBooks® holds an estimated 78% of the accounting software market, so it makes sense for leading inventory management providers to develop complimentary solutions. Businesses evaluate inventory software ahead of other add-on applications because inventory warehousing is such a large investment. Small businesses that successfully optimize their cycle counts not only protect the bottom line, they gain competitive advantage. Reconciliation is complex, and small businesses quickly outgrow cumbersome manual reconciliation. Has yours? Evaluate your need for inventory and accounting systems integration by considering the following:

• Does your product price vary or do you run promotions regularly?
• Do you track inventory based on serial number, lot, date, pallet or any combination thereof?
• Do you drop ship?
• Do your vendors require minimum or maximum order quantities?
• How do you decide which orders to fill, and based on what criteria?
• Do you pick more than once a day?
• Do you store inventory at multiple sites?
• How often do you reconcile physical inventory?

If you are experiencing difficulties accounting for these issues in your small business, a robust inventory management solution will streamline your business processes (not to mention save time and frustration). An integrated solution ensures that your customers, accounts, and inventory remain accurate: the information is always accessible at your fingertips. Save time and labor expense; save money from optimal warehousing practices; master your cash flow and maximize your business's health.