Every day, your company makes inventory transactions that can’t be tracked in QuickBooks (QB.) You have likely figured out a way to do these transactions using spreadsheets or paper and pencils, but you are not happy with the results. Your inventory reports are less accurate than you would like, and you could even be losing customers because you are unable to fulfill their orders on time. If you have multiple warehouses or inventory with lot numbers or expiration dates, the process gets even more complicated and difficult to manage.

Historic Problems with Inventory in QuickBooks

QuickBooks has been the go-to inventory accounting software for small to medium-size businesses for years. However, not all versions of QuickBooks can support every function. A few inventory problems with QB include:

  • No way to load quantity discount pricing

  • QB defaults to average cost, not FIFO or other inventory management systems

  • No way to accurately reflect negative inventories (when you’ve sold more items than you have on hand.)

In addition, some transactions are cumbersome to record in QuickBooks.  This delays busy warehouse managers from entering inventory data until they have more time rather than entering the data as soon as it’s received.

Our Rapid Inventory online inventory management system can help. Rapid Inventory is designed specifically to be used by your warehouse employees. Our online inventory management system tracks your inventory using attributes such as warehouse, location, receive date, expiration date, lot number, bar codes (optional), and hold reasons. These attributes get used in various ways. For example, we can direct stock rotation based upon FIFO (First In First Out) or FEFO (First Expired First Out). Our system isn’t intended to replace QuickBooks, but rather works with QB to solve inventory issues that are difficult to manage.

Rapid Inventory is designed to be your warehouse employees’ main inventory tool for all transactions including receiving, picking, moving inventory, building assemblies and counts.