Manufacturers must often deal with leftover parts after a manufacturing job is finished. However, it’s not easy to account for leftover parts in QuickBooks. That’s where Fishbowl’s inventory management software becomes extremely useful. There are three simple ways to deal with leftover parts in Fishbowl.
Fishbowl integrates seamlessly with QuickBooks. When you scan a product and make a change in your inventory records using Fishbowl, you can automatically update your financial records in QuickBooks at the same time. Here are the three ways you can deal with scrap parts in Fishbowl:
1. Return them to assets. To return leftover parts to your inventory, scan the parts with a barcode reader and put them back where you first got them from in your warehouse. Your accounting records in QuickBooks will be automatically updated when you do this.
2. Expense them. To scrap leftover parts, open the Inventory Module in Fishbowl, select the part you want to scrap and click the Scrap Inventory button. QuickBooks will be updated with an expense for that part.
3. Add them to a product’s cost. To add scrap parts and materials to the final cost of a product, you can enter the number of parts that were used or damaged into Fishbowl. Then QuickBooks adds the cost of those parts into the product’s cost. This also helps you know exactly how much inventory you have on hand in real time.
Fishbowl offers superb inventory management software. It fills the gaps in QuickBooks’ inventory management capabilities. Click the button below to download a free trial of Fishbowl to see all of the ways it can benefit your business.