Using QuickBooks to manage your finances in your manufacturing and wholesale business is one of the best decisions you could make. This accounting software is flexible enough to be used by small businesses in many different industries, and it has been proven itself to be an efficient way to keep track of a company’s finances. There are many aspects of QuickBooks software that can be used by companies in the manufacturing and wholesale distribution industries.
A few benefits to using their software include:
- Detailed Reports – You might be surprised by just how many reports are available to help you drill down deep into the data and discover trends and other insights that will let you manage your finances even more wisely than ever before. The main categories of reports available in QuickBooks include Business Overview, Manage Accounts Receivable, Manage Accounts Payable, Accountant Reports, Reconciliation Reports, Manage Products and Inventory, Review Sales, Review Expenses and Purchases, Manage Sales Tax, and Manage Employees. As you can see, a lot of these reports go far beyond the realm of accounting, and some of them involve inventory management, human resources, and taxes.
- Organized Bookkeeping – This should probably go without saying, but QuickBooks gives you the tools you need to organize your bookkeeping. You do not have to have majored in Business Finances at college to be able to navigate your finances when you use QuickBooks because it simplifies a lot of the more difficult processes involved in accounting. You should definitely still hire the services of a certified public accountant to help you with all of the ins and outside of bookkeeping, but it does not have to be a black box of mystery to you. Your finances can be comprehensible to you when you use QuickBooks to manage them.
- Business Plan Creation – Intuit offers a number of tools to help you figure out why it is important to have a business plan and then get started with writing one. You can even write a lean business plan and a marketing plan and a PR plan for your business that will help you to start appealing to customers and sending out the right messages about your company from the outset.
- Integration with Other Programs like Fishbowl – Fishbowl integrates seamlessly with QuickBooks. In fact, Fishbowl is the #1 selling manufacturing and warehouse management solution among QuickBooks users. It gives you access to many manufacturing and inventory management features that QuickBooks does not have, and it keeps QuickBooks updated with information about new sales orders, purchase orders, work orders, manufacture orders, and more.
One of the greatest challenges for wholesalers and manufacturers is to be able to keep track of inventory in an efficient way. Even with how robust QuickBooks is, there are some features it lacks. When dealing with warehouses and inventory, you must make sure you have the right tools to keep your business successful and in the black.
Fishbowl assists QuickBooks by adding more to its software. It will help with things like multilevel bills of materials, work orders for several types of manufacturing jobs, unlimited parts, and automatic reorder points for parts and products. If you use QuickBooks and you need a little more support for your warehouse and manufacturing business, check out Fishbowl!
When manufacturers use QuickBooks as their accounting software, they enjoy many benefits, including:
- Detailed reports
- Organized bookkeeping
- Business plan creation
- Integration with other programs like Fishbowl