Most of this year’s changes deal with inventory features that have been on the wish list for a while, especially if inventory is a huge component of your business. While there is still a need for 3rd party inventory add-ons, these new features are sufficient for many and will definitely make it easier to get work done faster and more efficiently. Some of the new inventory changes are only for those with an active Advanced Inventory subscription.
Save time with Default Class – I love this new feature! This is a setting in the company preferences – you can automatically assign a class to an Item, Account or Customer. You have to be consistent, i.e. always Items or always customers, or accounts, but for those who have a system to what or who belongs in what class, this is great!
Ordering inventory is easier with Available Quantity to Reorder- this is available only in the manufacturing/wholesale and accountant editions. Those with inventory know that just because it’s on hand, does not mean it’s available for sale. It could be promised on a sales order or in a pending build, so when ordering, it’s important to understand just how much you really need to order. Inventory reports now give you the option to see Available to reorder.
Save time by automatically creating purchase orders- in batches! I never understood why Enterprise couldn’t automatically create purchase orders based on reorder points – at least in the manufacturing/wholesale edition or retail editions. Those of you who order inventory with purchase orders will like this new feature – and it’s available in all editions of Enterprise. With a click of a button, you can automatically create purchase orders – talk about a timesaver! You will see Create Auto PO’s on the different Inventory Stock Status reports as well as the Inventory Reorder report.
Finding inventory in warehouses is simpler now that you can track your inventory at bin level. For those of you with warehouses, knowing which warehouse still leaves you a ton of space to search when looking for inventory, so this has definitely been a needed feature. Warehouse add-on software was a must for many. In Enterprise, the bin is a sub of your Inventory Site, which also means you need an active Advanced Inventory subscription. You could take the bin numbers a step further and make each digit (or 2) reference aisle, shelf, bin, etc. What you will have to keep in mind is that there is limit on the number of inventory sites (remember bin is a sub inventory) – you have up to 1,000,000 (up from last year’s 200).
You can also enter locations on sales documents like sales orders and use them in the inventory reports – even filter at bin level
Barcode Scanning is finally included with Enterprise – yeah! Those who have lots of inventory find it much faster to be able to scan in barcodes. In the past, you always needed an add-on program to use that feature. Now it’s included with the Advanced Inventory subscription.
There’s even a report for Item Barcodes so you can print out barcodes for easy scanning.
Another nice feature is the ability to easily compare what you received to what you ordered – available only if you scan.
Verify FIFO is working correctly – you can now see how the FIFO lots are being tracked with the new FIFO Lot Cost History Report. Again, you will need Advanced Inventory to use FIFO (a new feature in 2012).
Inventory has historically been a weak area of QuickBooks and Enterprise. Intuit has made the decision to beef it up in Enterprise. If inventory is a key component of your business, you could find upgrading to Enterprise from Pro or Premier well worth it. And, if you are in an older version of Enterprise, it might be time to step up. Let us know if you would like a closer look or want to make the purchase. As an Intuit Premier Reseller, we can help you from purchase through implementation.