Are you a manufacturing company that’s interested in implementing QuickBooks® software? If so, you’re in the right place. CTO Associates has been supporting QuickBooks® users for over 10 years. In this article, we’ll talk about some of the common questions we come across. For more information, please contact us at 413-367-9202.
Why should you choose QuickBooks® software if you are a manufacturing business?
If you run a manufacturing company, the QuickBooks® Advanced Inventory module will offer you great basic manufacturing features to streamline your manufacturing operations. Often this functionality is good enough for a manufacturing business. There is also an industry-specific module for manufacturing that may be of benefit to your business. We haven’t discussed that module specifically in this article, but we will take a more in-depth look at that system in future articles.
What are the manufacturing features of QuickBooks?
There are several manufacturing features in QuickBooks® software, these include:
- Inventory tracking with 3 levels of location tracking
- Automated inventory forecasting
- Serial number tracking
- Lot number tracking
- Easily locating and adjusting inventory discrepancies
- Importing and exporting inventory counts
- Tracking vendor information
What is Advanced Inventory in QuickBooks® Enterprise?
Advanced Inventory allows you to track your inventory stored at different locations. Additionally, you can track reorder points for each site and get notified when you are running low at a specific location.
What are the benefits of using QuickBooks® software?
There are several benefits of using QuickBooks®. First, it allows you to easily access your financial data at any time. You can also view reports and analyze trends in real-time. This means that you will be able to make better business decisions based on accurate data. Additionally, you can create and reuse email templates, streamline your bank feeds, automatically create and categorize receipt expense transactions, set up reminders for upcoming tax payments, etc. Another benefit of using QuickBooks® is that it is compatible with Microsoft Excel.
This means that you can import data into QuickBooks® from other programs. It also integrates with industry-specific solutions so you can get the industry-specific functionality you need without having to change your accounting solution.
When would you need to consider a manufacturing add-on solution to your QuickBooks® software?
Here are a few scenarios where integrating QuickBooks® software to Misys Manufacturing would be useful:
- If you want to track inventory in work-in-process
- If you want to link different suppliers to a single inventory item
- If you want to explode multi-level BOMs
- If you want to track BOM revisions
- If you want to track job costs
- If you want to use Standard Costing for inventory
- If you want to track shopfloor production
The benefit of integrating with a system like Misys manufacturing is that you keep the accounting software you know and like while adding advanced manufacturing software that you need to support your growing business.
Stay tuned for our next article in this blog series, where we’ll take a closer look at how you can use QuickBooks® for a manufacturing business.
Next Steps
Book Your Free Software Consultation of QuickBooks® Manufacturing
Let’s discuss whether QuickBooks® software is the right solution for your manufacturing business. Contact us for a complimentary consultation of QuickBooks® manufacturing today. We’ll identify your goals and then determine the best software solution and strategies to achieve those goals. We look forward to connecting with you.
About CTO Associates
Whether you’re looking to restructure your accounting operations, resolve inventory issues, quit using MS Excel spreadsheets for reporting; or find a replacement for your old accounting system, we’d love to talk with you. Our team has combined experience of over fifty years in a wide variety of industries. We have a CPA, a senior financial consultant with a background in international operations and financial analysis, and experienced bookkeepers and consultants to assist your growing business. At CTO Associates, we provide accounting and manufacturing software solutions to manufacturing, distribution, and service businesses. We have clients in MA, CT, NY, and across the US. We look forward to connecting with you soon.