Get all the information of about the best Inventory Management tools that help with Inventory Management for small business
Inventory management can be simply put as a record of stocked goods of a company. So, this is the pure management of all the products and inventory. Inventory management comes with a number of benefits right from managing goods to streamlining the process of stocking and giving companies a good control of their business.
Best 25 tools designed to streamline Inventory Management for small Businesses.
Here are some of the best 25 tools specially designed for small business and will help you manage your inventory in a better way:
Virtual inventory management is no longer a dream with Unleashed. With this software you can take control of inventory health and scale your business. Unleashed provides you with a Cloud-based dashboard. Its starting price is $60 a month.
With an advantage to integrate all the QuickBooks records into the AdvancePro system, AdvancePro comes with a series of high-performing inventory and warehouse management tools. These tools can be customized to the needs of a small business.
InFlow is an online inventory management system providing business from different industries. The software makes it easy for the business to receive orders and reorder stock. The good news is that it offers a free package for the new small businesses.
Popular in the industry as the smartest shipping app, Ordoro is a cost-effective solution for business to goods inventory for shipping operations. The pricing plan of this software starts from $25 a month.
With the use of Lettuce inventory app, one can integrate the systems which include payment processing, shopping, CRM among many others. The starting price of this app is $59 a month.
Providing a highly effective inventory management system, Infoplus is a web-base system that is highly suitable for retail, beverages and electronics business. Its pricing plan start from $379
7. Retail Inventory:
Starting from a Basic package of $20 per month, Retail Inventory is considered as a comprehensive inventory management system and includes an option to scan barcodes as well.
8. Inventory Now:
Making inventory tracking quite easier, Inventory Now provides business the complete overview of their inventory. Moreover, you also have an option to check about a particular inventory item number any time, and is considered suitable for small and medium sized business. It’s starting cost is $4.99.
Offering real-time tracking of inventory and sales, Cin7 is a point of sale and inventory management system. Its price starts at $249 a month.
10. Stitch Labs:
A retail business has a benefit of this tool as they can take control of their inventory from anywhere and anytime. In addition to the Stitch Labs inventory management, it also allows them to go for order processing. It also syncs availability across all sales channels and warehouses. It’s starting price is $499 a month.
Popular as the all-in-one inventory management software, SalesBinder has all the basic tools relevant for a small business. A business cannot just manage their inventory but also manage their invoices, customers, suppliers and purchase orders. You can also find a free platform on this management tool. Its Bronze package is available at $19.
TradeGecko allows business to manage their sales and stock. It also allows them to create inventory reports and automate shipping. Its plan starts from $79 a month.
13. RedRock Warehouse Manager:
It is an efficient inventory management tool which is suitable for the small business dealing in retail, manufacturing and e-commerce fulfillment. It is integrated with the QuickBooks’ records.
14. Wasp Inventory Control:
Wasp Inventory Control provides businesses the real-time approach to the inventory and includes a printer, supplies and a mobile device.
An all-inclusive inventory management system, JumpStock lets businesses to take care of their full inventory requirements. Its price starts at $99 a month.
SOL Inventory management software integrates with QuickBooks and allows businesses to manage their inventory at multiple places. Its plans range from $25-$200 per month.
TRXio integrates with QuickBooks and allows businesses to manage their inventory at multiple places. Its plans range from $25-$200 per month.
Fishbowl integrates with QuickBooks very easily and I highly flexible for small businesses. It also includes a 14-day free trial.
Right from automating time-consuming orders, OrderBot is famous for its quick automation in shipment process as well. This system is capable of creating customization packing slips. Owing to its customizable features, businesses are required to use a quote based request for few of their requirements.
20. Clearly Inventory:
Featuring a simple interface, Clearly Inventory is ideal for those firms that are involved in investing so much of their time in understanding the new software. The software allows the businesses to pay for what they need as and when they expand.
A free software solution for the businesses, LoSoftware operates in e-commerce, service-based industries and retail. This is easy-to-use software which provides a good control over stock to the businesses.
Delivered by Canvas applications, Stockpile saves a lot of time and money on the inventory tasks. You can add inventory, record sales, and take returns.
23. Zoho Inventory:
Allowing small businesses to manage their inventory and orders with great efficiency, Zoho Inventory provides a multi-channel selling and inventory control. Its basic package costs $29 a month and $249 per month for a professional package.
24. NCR Counterpoint:
A business dealing in retail, mail-order or wholesale can use this cloud-hosted point of sale software. NCR Counterpoint comes with a range of features to automate purchase orders and a host of other payment processing features.
25. Goldenseal Accounting:
Goldenseal Accounting has been designed for small business and offers a complete set of accounting and inventory management services. This accounting system is considered suitable for construction firms and other such business. The basic version of this system is available at $495.
The above mentioned software has its own role and function. These software are important management tools for small business and are easily available. You can also avail the trial facility for these. Just download the tools and enhance your multi-channel inventory management strategy.
Understand what is QuickBooks bank reconciliation and it’s benefits
Before you find out the need for QuickBooks Bank Reconciliation, it is very important to first understand what actually is Bank Reconciliation. Reconciling QuickBooks is basically an arrangement of matching the financial transactions present on the bank statements to what you have on your QuickBooks record. It should be noted that reconciling bank accounts with QuickBooks is an essential part for the business, as it can smoothly manage the momentous data. It’s important to understand the significance of the bank reconciliation with the help of cash flow analysis of the business.
The need for QuickBooks bank reconciliation might arise due to various possible reasons. In this article, we will discussing the need as well as other aspects associated with Bank Reconciliation via QuickBooks. So, the users can go through the article carefully, to understand the concept in a better way.
Undoubtedly, it is significant to reconcile business bank accounts on a monthly basis, in order to avoid any kind of inaccuracy. Reconciling the bank accounts on a regular basis ensures the user about the following points:
This process allows the user to analyze the discrepancies between the records & the banks and ensure that they are fixed in an apt manner.
Well-timed notification of any fraudulent transactions that may occur is another benefit of reconciliation.
Significance of QuickBooks Reconciliation with Bank Account
Basically, the Bank Reconciliation is a financial accounting technique that uses two sets of records to make certain that there are authentic figures in concurrence. Reconciling bank accounts with QuickBooks can be used to conclude whether the funds move an account event & the total sum spent. The user is supposed to make secure the two values equalized at the end of the recording period.
Reconciling a bank or credit card declaration evidently implies to observe in contrast the accounting records, accounts receivable, and accounts payable & identical them up to the equivalent transaction as recorded on the bank statement. At the end of each financial month & quarter, it’s a fine idea to reconcile an account. When reconciling an account, businesses, and singular person prove that each transaction sums to the correct ending account balance.
The very first benefit of QuickBooks Reconciliation with Bank account is that the entire financial transactions and bank statements get recorded in QuickBooks software.
Also the entire reconciled transactions are marked as cleared in the QuickBooks.
This makes the user competent to run the bank reconciliation reports that will endow the information of the items that have cleared the bank & those that remain outstanding (uncleared).
The financial report such as balance sheet and profit & loss statements and balance sheet is advanced.
The entire reconciled financial transactions are apparent in QuickBooks as emptied.
The user is able to run the bank reconciliation address that will provide the information of the items that have emptied the bank & those that stay exceptional.
All transactions of the bank statement get listed in QuickBooks.
Before the user pursue the steps to reconcile QuickBooks with bank account, it is important to ensure to have the bank statement available for the bank account to be reconciled.
The user is required to arrange the bank or credit card account in QuickBooks with the accurate beginning balance.
Also, back up the QuickBooks company file.
A pencil for designating the selected items on your statement may also be nearby. Taken a copy of your bank or credit card statement.
Filed all uncleared transactions for the statement period.
This video will assist the user to Reconcile the accounts in QuickBooks,
Facts associated with QuickBooks Reconciliation with Bank Account
It is significant to reconcile the bank account as an everyday review of the bank accounts can assist the user in identifying problems before it become a brain teasing hassle. This is mainly important for businesses, accounts, & individuals to inspect wrong activity and to continuing financial statement errors.
One of the major things to look for is any sort of indication of hoax.
Were reliable analyses that the trouble creates a replica or alteration, leading to more money leaving the analysis account?
Were checks troubles without permission?
Are there unapproved transfers out of the bank account, or has anyone made unapproved withdrawals?
QuickBooks has time-tracking and integrated payroll features. Employees log their hours, the employer can assess as well as approve them, whereas QuickBooks does the rest.
With the help of QuickBooks the user can Cut the checks or pay staff members by means of direct deposit, issue W2s at tax time, as well as file taxes online.
Reconciling the bank account also facilitates the users to recognize issues that might entail attention. For instance, the user might probably desire to re-examine how he/she handles or manage the cash flow & accounts receivable, or possibly wish to modify the activity performed by someone that has been recorded in the system or the accounting processes the user generally applies.
The user must know the availability in accounts.
Stop bank charge for not sufficient funds or going into lines of credit when the user doesn’t really want to.
Refrain from bouncing analysis or failed computerized payments to coworkers & suppliers.
Familiarize with the bounced or unsuccessful customer payments and also if any action required.
Track the outstanding checks.
Ensure that entirety is going into the accounting system appropriately.
Enable the user to see the bank errors.
The user can easily accept payments with QuickBooks. Simply giving the customers an option to pay through credit card, debit card, PayPal, or bank transfer, will work in this case.
QuickBooks refines the repayment and also transfers the money directly to the bank account.
The user can swipe or dip the card from the phone or tablet if there is even a mobile card reader.
It’s logical to analyze the bank accounts at least every month. For high-volume businesses or positions where hoax is jeopardy, more often is better. Some businesses reconcile their bank accounts every day.
The user can also build care into the bank accounts – ask the bank for ideas. One of such solution is – Positive Pay, which various banks propose, continuing the bank from accept payments unless the user has beforehand notified them about the payment.
If the Accounts don’t get reconcile:
At times, it is might be happen that the user might not be able to reconcile the bank accounts. No need to be anxious if the difference among the two statements is tiny. As most of the reconciliation module authorize to label it as an error. Most possibly, the user will be capable to resolve the missing transaction during next month’s reconciliation.
This brings us to the end of the article, where we hope that the information stated in the article might help the user to understand the QuickBooks Reconciliation in a better manner. For further information or assistance for any issue associated with QuickBooks – directly make a call to our QuickBooks Enterprise support team by dialing toll-free 1-844-405-0907. Our experts will be more happy to help you.
Learn about QuickBooks Error H202 and the ways to resolve it
QuickBooks is widely recognized as one of the finest accounting software, and is known for its amazing capabilities of handling transactions, bookkeeping, payroll management, maintaining records, and various other accounting activities. Though QuickBooks accounting software has transformed the way businesses carry out there accounting activities, it can’t be disregarded that it is also prone to multiple errors. One such error is QuickBooks Error Code H202 that usually occurs when trying to switch into multi-user mode. In this blog post, we are going to discuss about one of the most reported error code that is faced by many QB users.
QuickBooks error H202 may appear on your desktop screen when you try to open your company file in a multi-user mode. This error will prevent QuickBooks to perform the given task.
In order to know what causes the error H202, and how to resolve it, make sure to read and understand the complete procedure given below. We ensure that these troubleshooting steps will resolve your Error Code H202 instantly & will provide the best results. However, if you want a group of experts or certified professionals to fix the issue for you, then in that case, you can ring up at our toll-free number i.e. 1-844-405-0907, and our QuickBooks enterprise support team will be there to assist you in fixing the issue for you.
The images as shown below is similar to which appears on your desktop.
Important Note: If you currently have a version of File Doctor on your computer system (you will certainly see an File Doctor Icon on your desktop screen), you will need to proceed with downloading and installing File Doctor from this article to ensure you have the latest release. It is advised to uninstall any type of previous variations of File Doctor prior to downloading and installing.
First of all, the user needs to download the QuickBooks file doctor on your server. This helps to clear your H202 error in a multi-user mode as automatically. If in case, a user face an issue the same, try to proceed the Next solution.
And then, select the network issues tab, followed by clicking on the QuickBooks database server manager.
In case QuickBooks database server manager shows the correct company file location, the user is supposed to click on start scan option, else click on the browse to select company file folder and then hit start scan option.
After that, the QuickBooks database server manager will repair the firewall and provide all the efficient permissions required to access in all systems.
The next step in the process is to click on close after the repair is successful.
After that, the user will have to open the QuickBooks desktop on the system on which the error code H202 was encountered.
Followed by clicking on the file> switch to multi-user mode.
Important: If your workstations can go into multi-user mode without any issues, everything is fixed.
We hope this blog helped to resolve your QuickBooks Error Code H202. If still the same error persist then connect with our QuickBooks support phone number i.e. 1-844-405-0907. Our enterprise support team will be pleased to help you out in your accounting problems.
Get to know all about the Enhanced Inventory Receiving on Transactions
QuickBooks enterprise application has brought a revolutionary change in accounting and bookkeeping industry. Not only does it save a lot of time but also effectively maintains the finances of the company. In this article we will discuss about the QuickBooks Enhanced Inventory Receiving and various other aspects associated with the same.
What is QuickBooks Enhanced Inventory Receiving (EIR)?
EIR is considered to be one of the best features in the QuickBooks Desktop Enterprise solutions and it is known to manage the complete new procedures of paying and receiving items. QuickBooks Enhanced Inventory Receiving (EIR) is the finest feature accessible by QuickBooks Desktop Enterprise V12.0. It changes past transactions when started. This feature manages the complete new process for receiving and paying the items.
However, one needs to answer the below given questions in order to understand that this feature is valuable or not. If your given answer is ‘Yes‘ to any of these, it might just work for your business.
These Questions are as:
Have you ever received a bill that covers multiple item receipts?
Did you pay for the items before to receiving them and do not want to increase your inventory quantities?
Do you grab multiple bills for one item receipt?
Do you require 2 different receipts from accounts payable?
Want to different items receipts from accounts payable?
Important Points to Remember:
Create a backup of your company file before go to the following steps in this article (Recommended).
Don’t forget it that Enhanced Inventory Receiving (EIR) is only the feature, that you can’t switch off once it gets turn on.
Compress your company file if it is too large or heavy.
We recommend you to conduct a test using a copy of your company file and analyse if it works with your business.
What happens after turn on EIR (Enhanced Inventory Receiving)?
When the user turns on the EIR feature, the Bills do not increase the inventory items, and also the bills that are generated from the items receipts are no longer exchange items receipts.
Also, the Account Payable doesn’t get affected by the Item receipts anymore, only if you receive a bill for an open item receipt.
If the user gets a bill with different costs equated to the connected item receipt, then the program spontaneously changes the item cost on the available item receipt.
When a new item is entered, the QuickBooks Desktop calculates the inventory average cost. Each day the item receipts makes changes in the order of the inventory transactions that ends up in the average cost.
Once the user turns on the EIR, the process generates receipts for each bill in the company file that carries items and thereby there is a growth in the number of the transactions.
Also, it should be noted that the third party applications that affects the inventory may not be able work along with the EIR.
Limitations when using EIR:
The very first negative point is that the user can not add any negative item to Item Receipts or Bills.
Also, the user is restricted to add expenses to the receipts of items.
In case the user has generated any purchase order for non-inventory items, then the user has to receive them with an item receipt so as to close that purchase order.
In EIR the user will not be able to assign the items as ‘billable on the item receipts.
Once EIR is turned on by the user, and the user tries to get a separate receipt of an item from the bill for which the user is supposed to find the account for the value of the item received. The EIR QuickBooks Desktop developed an Inventory Offset Account that works as an opening account in between the item receipts and bills. As the user enters the bill for an item receipt, the transaction amount that has been cleared from the Inventory Offset Account and credit to the payable account.
At the time the user entered an item receipt QuickBooks desktop generates the below journal entry:
Item ReceiptItem Receipt
Inventory Asset Account
Inventory Asset Account
At the time when the user enters an item Bill QuickBooks desktop generates the following journal entry.
Inventory Offset Account
After Enhanced Inventory Receiving is turned on, the QuickBooks Desktop produces these transactions unlike the common reports in QuickBooks used to look like.
For example: After turning on the Enhanced Inventory Receiving (EIR), Act. Cost shows 0.00 in job profitability detail report in a company file.
As EIR is turned on, the item used in generating bill is often related to the Inventory Offset Account rather than the account that was used at the initial setup of the item.
The default filter of job profitability detail report is Account: All income/expense and Name.
Therefore, add or change the filter in “Account” to Inventory Offset Account gives you the actual amount of Act. Cost column.
Latest process for receiving and paying for items:
To pay and receive inventory, the user will have to follow two processes:
When EIR is turned off:
Single transaction: Enter the bill that makes the inventory at hand larger
Multi-transaction: In order to enlarge your inventory adds an item receipt and list a bill that is opposed to the item receipt.
After EIR is turned on
Two transactions must be recorded, the user can list them in order either:-
An item receipt to make the inventory close by larger.
Or A Bill to pay the items. In order to check the exact value of your payable account you have to enter a bill opposed to an open item receipt. You must enter a bill as opposed to an open item receipt in order to see the exact value of your payable account.
Important: This procedure claims only to bills. Using Checks and Credit Card, you can still enlarge your inventory Amounts and pay for the items in one step.
After discussing various aspects of EIR, we conclude that after reading the above information, the user can make the best use of EIR. In case the user has any query regarding QuickBooks Enhanced Inventory Receiving (EIR), or in case of doubt, you can speak to our experts executives.
When a user is working on QuickBooks software, there comes a time when he wants to transfer the QuickBooks from old computer to new computer. There can be any reason behind this decision. A user can easily use the migrator tool to transfer QuickBooks software from his old to new computer with maximum three files, and if the user is using a US version of single-user QB desktop. When a user wants to do this, he should follow the steps below to reinstall or move the QB Desktop installation:
How to transfer QuickBooks from one computer to another using Migrator Tool?
Migrator tool is one of great features of the QuickBooks software. A user can complete the process of transfer in just few clicks due to this feature only.
How does migrator tool work to transfer QuickBooks from one computer to
Migrator Tool is also known as Move QuickBooks tool. This tool can be accessed only if you are an Admin user. You will need to create a complex password and need to remember it by writing it somewhere, however, it is required only once.
The migratory tool will allow you to copy max three company files in the USB flash drive along with the supporting documents. Pen drive will physically move the files and the migratory tool will do technical work in background. The tool will also download the right version of QuickBooks Desktop in the new computer and will aid in setting up all the files.
Note: Using migratory tool will not delete any file or reformat your system.
Requirements of migratory tool to transfer QuickBooks to new computer:
There should be internet connection to new computer.
Pen drive should have good amount of empty space. Free space around 150-200 MB is required usually.
Data which gets copied through migratory tool while moving QB to new
All the data required to run QuickBooks Desktop gets copied, however, the list is as below:
Version and other QB Desktop details
Recent company files- max 3 files with supporting documents
All other related files and custom templates and forms