There are many advantages to using established accounting and inventory software rather than trying to create your own systems or attempting to use manual systems that are not designed specifically for these purposes. Here are three areas in which inventory software can help with your accounting:TIME, TIME, TIME
Inventory management software is designed to save you time. Previous to inventory management software, business owners were limited to keeping track of inventory with a pen and paper and later entering the collected SKUs, product/part numbers, bin locations, etc. and later entering that information manually into a spreadsheet. Not only is this manual process time consuming, it also leaves the door open for human error when collecting and transferring data. Inventory software gives you the ability to view your inventory, its levels and its location in your warehouse. By using accounting and inventory software, you can focus more time on growing your business in other areas.ONLINE BUSINESS
The number of online users since 1995 has grown from 16 million to approximately 2.5 billion in 2012. This growth has led to an explosion of online businesses. Because of all these opportunities and competition, it is essential for businesses to keep track of the goods they are selling online, as well as their finances. Even the smallest mistake can cause a major setback for a business due to a negative customer review. Investing in the right inventory management software and accounting software will help you keep track of your orders and prevent serious problems from damaging customer relationships.PRODUCTIVITY
It is always important to know exactly what is going on in your warehouse in order to be more productive. With Fishbowl Manufacturing and Fishbowl Warehouse, at any time you can view a number of reports that give a detailed account of any particular part or product within your warehouse(s) and its associated history. This enables you to effectively plan for the future and forecast specific quantities that will be required to fulfill customer orders. There is also a reorder point reminder within Fishbowl that reminds you to reorder when an item is running low. By using our automated inventory tracking system, you will also cease to purchase parts or products that are not selling and stay in control of your company’s destiny.
It is imperative to keep the right amount of product quantities on hand at any point in time. No matter the situation, it is important to make sure you will be able to successfully fulfill customer orders without any delays or problems. Save hundreds of thousands of dollars by using a proper inventory management solution that will keep you organized and in complete control of your warehouse.CONCLUSION
By moving from managing your inventory manually to investing in an inventory management solution like Fishbowl, your business infrastructure will flow more smoothly. Whether you run your business online or not, Fishbowl can help you grow and succeed by leading you to greater productivity. Download a free trial today to get started on your path to a better inventory management future today.
Integrating accounting and inventory software together saves time and eliminates double data entry by allowing information to flow unhindered between the two solutions. When sales orders come in and purchase orders go out, the inventory software can alert the accounting software to update the general ledger and generate invoices.