Growing manufacturers chose QuickBooks for their company’s trusted financial solution, and depending on what level tier you purchase, you are also able to use the inventory management. QuickBooks can be attractive to manufacturers who requires a system that can track inventory item by the value it was purchased at increasing the value of the inventory asset account which will reflect your balance sheet. One the finished product has been sold, QuickBooks will decrease the value of the inventory asset and quantity on hand.
In simple terms, your QuickBooks inventory management system will manage finished goods and evaluate costs, profits, and losses. For a free trial of QuickBooks Enterprise, visit our website at http://dlaexperts.com/download-quickbooks/
Managing your manufacturing business is possible in Quickbooks. However, Quickbooks’ inventory management system is focused mainly for small to medium size businesses tracking the stock level of finished goods and not a full MRP (Material Requirements Planning) system. A full MRP system will be able to set up a master schedule during the production into a detailed schedule, so you are able to manage your inventory all the way down to the last component detail.
Even though QuickBooks has some built-in power and scalability, let’s dive into some key differences and possibly consider if MISys Manufacturing is a great add-on for your QuickBooks.
QuickBooks Enterprise Platinum and QuickBooks Enterprise Diamond come included with Advanced Inventory. QuickBooks Enterprise Advanced Inventory has the ability to track bin location, track lot numbers or serial numbers, track and transfer inventory by multiple locations, and manage FIFO/LIFO. QuickBooks Enterprise V19 also released the compatibility of the TC-25 and TC-52 barcode scanning solution that allows customers to pick, pack, and ship along with inventory count for their warehouse needs.
When considering MISys Manufacturing with QuickBooks, it allows you to keep the accounting software you know and like, and add the manufacturing modules when you need it. Below are some modules that MISys Manufacturing offers for our clients.
- Basic Manufacturing This is the comprehensive building block for the modular MISys Manufacturing system. Control QuickBooks inventory levels of raw material and WIP, Use multi-level bills of material, revise BOM’s, conduct physical inventory cycle counting, and process production work orders.
- Advanced Purchasing – Analyze material shortages and automatically create all of the purchase orders needed to replenish inventory.
- Advanced Production – Predict the cost of every job and track performance as manufacturing orders for standard assemblies or special one-off items move through the shop.
- Material Requirements Planning – Determine purchasing and production needs by analyzing current inventory, open orders and sales orders to spot impending shortages and respond by creating purchase and production orders.
- Shop Floor Control – Accurately predict production costs based on estimated material, labor, and overhead, and then analyze the actual production costs.
- Serial/Lot Tracking – Track serial or lot numbers throughout the entire purchasing and production process to comply with strict regulatory agency requirements, including FDA and FAA.
- Bin Tracking – Maintain a unique inventory sub-location for every item or assembly as raw materials, sub-assemblies, or finished goods in specific containers.
- Labor Tracking – Track the elapsed time production workers spend on selected Jobs and Manufacturing Orders and automatically post to the Manufacturing Order.
- Bar Coding – Print and collect bar coded data with hardware and software provided by MISys to seamlessly integrate with inventory control functions.
- Mobile Alerts – Send critical alerts to smart phones or any mobile device capable of receiving wireless email messages.
- MISys Manufacturing EXT – Process real-time MISys transactions using a mobile web-based interface. Works on any tablet, smartphone or web-enabled device.
For more information, contact us at 888-316-6672 or info@dlaexperts.com
Please feel free to contact us with any additional questions or if you would like to set up a FREE complimentary demo of QuickBooks Enterprise for Manufacturing or MISys Manufacturing.