QuickBooks Enterprise touts Advanced Inventory capabilities. But what do these advanced inventory features entail, and are they powerful enough to meet your company’s requirements for a complete inventory management system? Let’s go through QuickBooks Enterprise and see which inventory management and manufacturing features it offers and which ones it lacks.
The two accounting methods available in QuickBooks Enterprise are average costing and FIFO. LIFO and standard costing aren’t available, so if you wish to use those then you will have to look elsewhere.
QuickBooks Enterprise is able to scan barcodes, but it can’t generate them or print them out to attach to products.
Bill of Materials
Simple assembly jobs are all that QuickBooks Enterprise’s bill of materials feature can handle. It can’t break manufacturing jobs into multiple production stages.
QuickBooks Enterprise is unable to calculate landed costs of incoming orders and add them to a product’s total cost. This presents a challenge for companies that have vendors outside of their home country.
Like the bills of materials, QuickBooks Enterprise’s manufacture orders can only be used for assembly jobs. They are unable to do repair, disassembly, or other types of manufacturing jobs.
Numerous currencies are available in QuickBooks Enterprise, and it’s possible to import money into the system in whatever currency you wish. You can also perform multi-currency conversions within the software.
QuickBooks Enterprise can be set up to store inventory in more than one warehouse. It can even drill down into each location and include specific zones within the warehouse, such as the receiving area and bin locations. But the number of warehouses and sub-locations is limited, so it might not be able to fully deliver everything you need.
It’s possible to track parts by their lot number or serial number. Expiration dates, revision numbers, and custom fields cannot be used in QuickBooks Enterprise.
Pick routes are unable to be generated in QuickBooks Enterprise, making it difficult to engage in batch picking or other time-saving order fulfillment tactics.
Only one vendor can be associated with each part in QuickBooks Enterprise. You are unable to have multiple options of vendors for a single part, so if the primary one fails to meet your needs you’ll have to manually update the part with a new vendor.
Product kits cannot be configured in QuickBooks Enterprise. Kits are made up of products that get grouped together according to their quantity, unit of measure, discount, tax rate, and/or other criteria.
Return Merchandise Authorization
RMAs are not included in QuickBooks Enterprise, so you’ll have to work around that fact to complete product returns or replacements when necessary.
It is possible to generate transfer orders through QuickBooks Enterprise in order to move inventory from one location to another without the need for the exchange of money.
QuickBooks Enterprise’s user rights are based on each user’s role in the system. They are not granular, so they can’t be distinguished by access to specific features.
You can set up discounts on orders by a specific percentage or set amount of money in QuickBooks Enterprise. Group pricing and cost-plus pricing are unavailable under this system.
Filling in the Gaps
If QuickBooks Enterprise’s Advanced Inventory features don’t do everything you need them to do, you will probably find Fishbowl to be a perfect alternative. Fishbowl is the No.1 manufacturing and warehouse management solution for QuickBooks. Fishbowl possesses every inventory management feature that QuickBooks Enterprise lacks. So give Fishbowl a try today, and see how seamlessly it integrates with QuickBooks!
QuickBooks Enterprise offers the following Advanced Inventory features to businesses:
- Accounting methods
- Barcode scanning
- Bill of materials
- Landed costs
- Manufacture orders
- Multiple locations
- Part tracking
- Return merchandise authorization
- Transfer orders
- User rights
- Variable pricing