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DS127
Level 5
posted
‎June 05, 2024 07:14 AM
last updated ‎June 05, 2024 7:14 AM

Inventory management and POS using QBO and third party apps

I have a client for whom I am bringing her data to QBO from Desktop.  We have to deal with inventory.  I am aware that QBO Inventory is not robust enough to handle her needs.  She is going to have to find a third party Inventory app that integrates with QBO.

 

My question: Can anyone out there share your experience with this scenario? Should we set up the new inventory system first, then convert the rest of QBD to QBO or doesn't it matter what order we do it in?  Also, does it actually "work" to bring in the invoices, bills, etc. from the external inventory system to QBO or is it better to run everything from the app and just pass the totals to QBO?  

 

RE: the latter, I have found that with POS systems it works better to just bring in what hits the bank (e.g., what goes into the POS as income) then use the numbers in the POS to calculate sales tax and make the journal entries to adjust the income account in QBO.  But...I haven't tried real "integrating" for three years and maybe the whole thing works better now?

 

So, I am wondering, with inventory is it a similar situation and have others out there found that doing the full integration with QBO actually works?  Thanks!

 

 

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Best answer June 05, 2024
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IrizA
QuickBooks Team
QuickBooks Team
‎June 05, 2024 09:22 AM

Inventory management and POS using QBO and third party apps

I see you'd like to know how to deal with your inventory as you move from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO), DS127. I'll share some insights regarding this matter.

 

In QuickBooks Online, there's certain information that you can and can't import. Since you mentioned finding a third party for your inventories, you can explore them within your QBO company file.

 

Here's how:

 

  1. Log in to your QBO company file.
  2. Within your Apps menu, click Find Apps.
  3. Search the name of the app.
  4. You can also click on Browse categories and then expand each dropdown to view options that apply to you. It will show different apps that you can use for your inventory.
  5. Choose an app you want to use, then click Get app now.

 

Once you have the app, you can set up the inventory system first. This way, you can easily use your system when you're ready to convert your data.

 

Additionally, you can bring your transactions to QBO. However, please know that there are certain limitations when bringing the transactions.

 

You can access these materials to learn more about how your features and data move from QuickBooks Desktop to QuickBooks Online:

 

 

Furthermore, you can check out this material to learn how to track your inventory if you're using QuickBooks Online Plus and Advanced: Set up and track your inventory in QuickBooks Online.

 

Feel free to ask us again whenever you have more questions regarding importing to QBO. We'll be around to help.  

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6 Comments 6
4Gal
Level 11
‎June 05, 2024 09:09 AM

Inventory management and POS using QBO and third party apps

I would recommend prioritizing a POS implementation over an inventory management application. Do not run them at the same time so that users can adapt to the new system. There are many POS options on the market. What is their budget?

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IrizA
QuickBooks Team
QuickBooks Team
‎June 05, 2024 09:22 AM

Inventory management and POS using QBO and third party apps

I see you'd like to know how to deal with your inventory as you move from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO), DS127. I'll share some insights regarding this matter.

 

In QuickBooks Online, there's certain information that you can and can't import. Since you mentioned finding a third party for your inventories, you can explore them within your QBO company file.

 

Here's how:

 

  1. Log in to your QBO company file.
  2. Within your Apps menu, click Find Apps.
  3. Search the name of the app.
  4. You can also click on Browse categories and then expand each dropdown to view options that apply to you. It will show different apps that you can use for your inventory.
  5. Choose an app you want to use, then click Get app now.

 

Once you have the app, you can set up the inventory system first. This way, you can easily use your system when you're ready to convert your data.

 

Additionally, you can bring your transactions to QBO. However, please know that there are certain limitations when bringing the transactions.

 

You can access these materials to learn more about how your features and data move from QuickBooks Desktop to QuickBooks Online:

 

 

Furthermore, you can check out this material to learn how to track your inventory if you're using QuickBooks Online Plus and Advanced: Set up and track your inventory in QuickBooks Online.

 

Feel free to ask us again whenever you have more questions regarding importing to QBO. We'll be around to help.  

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DS127
Level 5
‎June 05, 2024 11:17 AM

Inventory management and POS using QBO and third party apps

Sorry I wasn't clear, 4Gal. I was using POS e.g. Square as an example of where Intuit says, "oh yes, QBO fully integrates with that" where in the real world, you're much better off letting the POS do what it does and then only bring in daily income totals. Which is what I suspect for the inventory management system as well.  thanks.

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DS127
Level 5
‎June 05, 2024 11:25 AM

Inventory management and POS using QBO and third party apps

IrizA - thanks for your post. That is a very good idea, to get the inventory system up and running first, and bedded down, before messing with QBO and the accounting side. 

 

Has anybody out there actually brought data in from an external inventory management system and how is that working for you?

 

thanks.

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Rainflurry
Level 14
‎June 05, 2024 02:12 PM

Inventory management and POS using QBO and third party apps

@DS127 

 

"Has anybody out there actually brought data in from an external inventory management system and how is that working for you?"

 

This really dependent on the capabilities of the POS system.  I have used Lightspeed (LS) for many years and exported data from LS to QB.  The export from LS is a journal entry that books income (credit), payments/deposits (cash & cc separately - debits), gift card liability (debit/credit, depending on whether redeemed or sold), sales tax payable (credit), COGS expense (debit) and inventory reduction (credit).  Personally, I'm not a fan of having thousands of inventory items in QB unless the POS requires it to be able to export bills into QB, thereby eliminating the need to manually enter bills in QB.    

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DS127
Level 5
‎June 06, 2024 06:45 AM

Inventory management and POS using QBO and third party apps

Rainflurry that is great input.

 

That journal entry would be great not to have to do manually.  I agree with you - I don't like having all those items in QBO either unless we have to.  Just seems to open us up to problems in QBO.

 

Great advice. Thanks!

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