2021-05-27 12:10:52Accountant AdviceEnglishhttps://quickbooks.intuit.com/blog/us_blog/uploads/2021/05/Inventory-copy.jpghttps://quickbooks.intuit.com/blog/accountant-advice/how-to-manage-multiple-inventory-locations-with-advanced-inventory/How to manage multiple inventory locations with Advanced Inventory

How to manage multiple inventory locations with Advanced Inventory

4 min read

As a QuickBooks ProAdvisor®, I work with many clients who are using QuickBooks® Enterprise to manage the complexity of running an inventory-based business. Not only do these businesses have all of the typical responsibilities of operating a business, but they also need to manage and account for inventory. Warehouse management is challenging enough with optimizing stock levels, managing the physical space, and tracking orders and deliveries. However, when growing companies add additional warehouses, those challenges are multiplied.

If you’re in a similar situation, the Advanced Inventory feature of QuickBooks Enterprise can help. To use this feature, you will need to have the Platinum Edition or Diamond Edition, and with both of these two editions, the Advanced Inventory feature needs to be enabled first.

Here’s a step-by-step guide on how to get started with Advanced Inventory877-718-0637

  1. Make sure you are in single-user mode. Go to the File menu, then select Switch to Single-User mode.
  2. Click on the Edit menu, then select Preferences.
  3. From the list on the left side of the screen, select Items & Inventory, then click on the Company Preferences
  4. Make sure the Inventory and purchase orders are active checkbox is checked.

  1. From the Multiple Inventory Locations tab, make sure the Multiple Inventory Sites is enabled box is checked. You can also check the boxes to be warned about duplicate inventory transfer numbers or transactions that would cause inventory to go negative.
  2. Next, select the Track Bin Locations within Inventory Sites button if you will be using bin locations within your inventory sites. Warning: When you select Bin Location Tracking, QuickBooks will move all items to unassigned until bins are created. You will need to transfer to the correct bins, using the Transfer Inventory form.

  1. Now that you have activated your Advanced Inventory features, you can switch back to Multi-user. Go to the File menu, then select Switch to Multi-User mode.
  2. Now you can start tracking multiple inventory locations by setting up your warehouse locations, using Lists > Inventory Site List. Usually, you will keep most of your inventory here. If your business stores inventory parts in trucks, then set up each of your trucks as an inventory site. This way, you can keep track of inventory on each vehicle, keeping an accurate count everywhere you have parts.

Bin locations are set up in the same manner: Lists >Inventory Site List. Make sure to check the box that says “is a bin within site” to make the bin location available within the inventory location.

  1. If you need to add new inventory items at this point,  you can update the quantity on hand within the new items window by clicking on the Inventory Site Info button. Here, you will see each of the inventory sites that you have set up. Enter the quantity on hand next to each of the inventory sites.

Once you have these steps completed, you will now be able to do many essential things, including:

  • Viewing each location and its entire inventory.
  • Finding which locations have a specific part or product.
  • Analyzing inventory valuation, sales, parts, and quantities by location.
  • Transferring Inventory.
  • Enabling the Shipping Manager.
  • Linking with e-commerce.

QuickBooks makes managing multiple locations simpler by giving you detailed information on your inventories. It also allows you to distinguish between identical items stored in different locations, choose the most appropriate location to receive products, and fulfill orders according to stock levels.

If you need to transfer products from one location to another quickly to avoid losing a sale, you can use QuickBooks because it is compatible with the U.S. Postal Service, UPS, and FedEx, so you can quickly ship products using these couriers. QuickBooks Advanced inventory software helps you cut costs and run more efficiently in many ways.

QuickBooks lets you quantify each location’s sales to see which locations are more profitable than others, and which ones have a higher demand for certain products. Then, you can adjust your inventories to meet demand and avoid shortages or production delays.

Customers checking your online catalog do not care which warehouse the goods are stored in – they just want to know if they are available and when they will arrive. You need a system that enables you to keep your online store up to date, manage stock across all your channels, and meet delivery service level agreements, no matter which location picks and packs the items.

Analyzing your inventory is critical to your business. QuickBooks helps you with understanding the ebbs and flows of supply and demand and how they vary by location. This information is critical to maintaining optimum stock levels in each warehouse.

Another great thing about QuickBooks is that it is relatively quick for employees to be trained on and use in their everyday tasks. You can limit your employees’ user rights, so they will only have access to information for the locations they have direct responsibility over.

With Advanced Inventory, you can easily keep tabs on all aspects of your inventory within your QuickBooks Enterprise company file. Are you ready to take control with Advanced Inventory? To learn more about how we can help your business, call 877-718-0637 or contact sales.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.
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