Lumberyard Business

S_Finley_01 · ‎November 17, 2020

I currently do bookkeeping for a lumberyard. I am very familiar with quickbooks and I have used it for several companies. The lumberyard is wanting to switch bookkeeping programs. The owners believe quickbooks can't handle lumber for inventory. They want to go with custom software for lumberyards, but the last 2 programs they have used have been awful. Does anyone know if quickbooks can handle a lumberyard business? If so, where can I find information on this to pass onto the owners.

IamjuViel · ‎November 17, 2020

Hello there, @S_Finley_01.

QuickBooks was designed to be a one-stop-shop for business owners, so I'm thrilled to share some information to help you manage your client's business.

The built-in inventory feature performs inventory evaluation using the first-in, first-out (FIFO) system to track any fluctuations in product costs and the COGS. Also, it enables you to track your client's inventory item by the value it was purchased at (or how much it costs for you to make) increasing the value of the Inventory Asset account on your Balance Sheet report and increasing inventory (or Quantity on Hand) of said product.

I've added these articles as an additional reference about inventory management in QuickBooks:

Stay in touch with us here if you have other questions about using the inventory feature. I'm always here to help.

View solution in original post

IamjuViel · ‎November 17, 2020

Hello there, @S_Finley_01.

QuickBooks was designed to be a one-stop-shop for business owners, so I'm thrilled to share some information to help you manage your client's business.

The built-in inventory feature performs inventory evaluation using the first-in, first-out (FIFO) system to track any fluctuations in product costs and the COGS. Also, it enables you to track your client's inventory item by the value it was purchased at (or how much it costs for you to make) increasing the value of the Inventory Asset account on your Balance Sheet report and increasing inventory (or Quantity on Hand) of said product.

I've added these articles as an additional reference about inventory management in QuickBooks:

Stay in touch with us here if you have other questions about using the inventory feature. I'm always here to help.

S_Finley_01 · ‎November 17, 2020

Thank you so much for your help. The links you supplied will be helpful. Hopefully I can convenience them to switch to Quickbooks!

Fiat Lux - ASIA · ‎November 17, 2020

@S_Finley_01

If you have to open a new QBO account, make sure to click the Buy button to get the discounted price for up to 3 months. If you purchase from the Trial account, you have to pay the regular rate.

https:// quickbooks.grsm.io/US
https:// quickbooks.grsm.io/us-promo

As an additional option, you may explore an inventory management app. Intuit has acquired one app recently.

https:// go.tradegecko.com/register?code=fiat-lux

jecalderon · ‎November 20, 2020

Lumberyard and any hardware store is inventory intensive. Quickbooks Online will not do . You will really need to consider moving to Enterprise or the QB POS.

Topics

Training

Community

Resources

Lumberyard Business