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Is this the proper way we should set up our inventory?

Hello QB community,

I'm in need of a little bit of help in setting up our inventory and transferring from our current software to QuickBooks. I've gone ahead with one approach, but I want to check with the community to see if I've gone about it correctly. I mostly want to see your opinion and if this solution is viable.

 

Background:

We are a distributor of licensed sports products and therefore sell just about everything sports related. We currently have over 12,000 items in our database and this list is ever changing as we get new stuff or phase out older items. We would like to switch to QuickBooks to help speed up and simplify tasks that take forever in our current inventory management software. We sell just about every single team for NFL, NHL, NBA, and a lot of NCAA teams all of which have several very different products for each team. Each item has a team that it belongs to, a product name, an SRP (suggested retail price), and a unique UPC code. We are currently trying to switch to QuickBooks but are struggling to figure out what the best long-term solution is for setting up our inventory items.

 

Inventory Question:

Initially, I had set up all our items to just use the UPC as the item name with the custom fields being used to supply the Team, League, and SRP, but then ran into the issue of how to keep the team names consistent. I then was told in another forum post to set up an item like NFL and then create a sub-item for the different teams (NFL:CHICAGO BEARS) and then the actual item as a sub-item of those items. So, in the end, a completed item would look like this (NFL:CHICAGO BEARS:UPC_CODE). I kind of like this approach because it makes sure that all items have a uniform naming structure and helps prevent employees from spelling the team name wrong. 

But this is where the issue of the custom fields comes into play because we still need to add the custom field with the team name to print it on invoices, pick tickets, POs, etc. and this is where employees can mess up and spell the team name wrong or simply put “Bears” instead of “Chicago Bears.” Another reason that we need the custom field is that if we view the inventory list in the hierarchical view then we only see UPC codes with the description unless we add in a custom column with our custom field for the League and Team Name.

 

I just want to make sure that we set up our inventory correct the first time and do not have to come back in a year and completely redo it because we figured out it wasn’t going to work. I've also gone ahead and attached an image of what the current inventory setup look like in QuickBooks (Current Set-Up.png). If anyone has any recommendations or thinks I should do something differently, please let me know.

 

Thanks,

Jared

Best answer 01-02-2019

Accepted Solutions
QuickBooks Team

Re: Is this the proper way we should set up our inventory?

Thanks for joining our growing family here in the Community, Jared. 

 

I'm glad you've chosen QuickBooks Desktop to help manage your finances. I also appreciate the detailed information you shared. Let me provide some insights about setting up inventories. 

 

For a company with a large inventories like yours, it's important to organize and track the stocks correctly. Based on the screenshot, you're doing the right thing.

 

Though you're able to customize and add the fields in the Item List, they won't flow on the invoices. You'll want to create a new invoice template specifically to the transactions you need. 

 

Here's how:

  1. Go to Lists at the top menu bar, then select Templates.
  2. Right-click anywhere and choose New.
  3. In the Select Template Type, pick Invoice
  4. Choose the information you want to see added. 
  5. Click the Additional Customization tab.
  6. Pick the Header and Column you want to see added and enter a Title
  7. Click Ok.

Check out this article for more information:

 

Use and customize form templates

 

Once you create an invoice, make sure to select the template you've added (see screenshot below). To do so:

  1. In the top menu bar, select Customers and choose Create Invoices.
  2. Pick the template you've created from the Template drop-down. 
  3. Enter the necessary details and click Save and Close

 

By doing the steps above, your employees should be able to use a uniform naming structure. Additionally, since you've already customized the Items list, the columns and details you've added will retain regardless if you close or reopen the program.

 

You're doing things right and that's commendable for a first-time-user like you. The Community has got your back, and we are always here to help with whatever QuickBooks issues that may arise in the future. 

 

This is a great avenue to interact with accountants and other users who are always there to lend a hand. Don't hesitate to reach back to me if you have questions with the process. I'll be around, anytime! 

2 Comments
Established Community Backer ***

Re: Is this the proper way we should set up our inventory?

You've asked in Multiple places, now.

https://quickbooks.intuit.com/community/Other-questions/User-Multi-Choice-List-Limit/m-p/213187#M568...

 

For this: "But this is where the issue of the custom fields comes into play because we still need to add the custom field with the team name to print it on invoices, pick tickets, POs, etc."

 

Here's the issue: that isn't what Custom Fields are used for. You are describing that you maintain in stock Actual Differentiated Products. That means Item Name needs to be detailed, or stop showing item Name and start putting better info into Description:

 

NFL:CHICAGO BEARS:UPC_CODE

 

Description = Micro-bat Chicago Bears

 

Or, you need to get a Point of Sale program. Intuit has a QB POS. What you asked is Retail Matrix.

 

 

"Another reason that we need the custom field is that if we view the inventory list in the hierarchical view then we only see UPC codes with the description unless we add in a custom column with our custom field for the League and Team Name."

 

Right Click Items list or Inventory Center items listing and select Customize Columns. Bring into your view what matters to you.

QuickBooks Team

Re: Is this the proper way we should set up our inventory?

Thanks for joining our growing family here in the Community, Jared. 

 

I'm glad you've chosen QuickBooks Desktop to help manage your finances. I also appreciate the detailed information you shared. Let me provide some insights about setting up inventories. 

 

For a company with a large inventories like yours, it's important to organize and track the stocks correctly. Based on the screenshot, you're doing the right thing.

 

Though you're able to customize and add the fields in the Item List, they won't flow on the invoices. You'll want to create a new invoice template specifically to the transactions you need. 

 

Here's how:

  1. Go to Lists at the top menu bar, then select Templates.
  2. Right-click anywhere and choose New.
  3. In the Select Template Type, pick Invoice
  4. Choose the information you want to see added. 
  5. Click the Additional Customization tab.
  6. Pick the Header and Column you want to see added and enter a Title
  7. Click Ok.

Check out this article for more information:

 

Use and customize form templates

 

Once you create an invoice, make sure to select the template you've added (see screenshot below). To do so:

  1. In the top menu bar, select Customers and choose Create Invoices.
  2. Pick the template you've created from the Template drop-down. 
  3. Enter the necessary details and click Save and Close

 

By doing the steps above, your employees should be able to use a uniform naming structure. Additionally, since you've already customized the Items list, the columns and details you've added will retain regardless if you close or reopen the program.

 

You're doing things right and that's commendable for a first-time-user like you. The Community has got your back, and we are always here to help with whatever QuickBooks issues that may arise in the future. 

 

This is a great avenue to interact with accountants and other users who are always there to lend a hand. Don't hesitate to reach back to me if you have questions with the process. I'll be around, anytime!