- Reid Hanson
Can QuickBooks Online Track Inventory?
Answer: Sort of.
QuickBooks by Intuit is a staple of the accounting world. Originally designed to track small and medium sized company's finances. In full disclosure, we use QuickBooks for our accounting. It's a great tool for tracking invoices, and as a register for how our revenue comes in and our products are purchased. However, we don't rely on this accounting tool to be our CRM. That would be painful for our accounting staff as well as our sales department. Nobody wants to have full access to a company's accounting information. This is why for example customer relationship management tools (CRM) are offered like Salesforce, HubSpot and so many other plug-ins are offered on Intuit's marketplace. That doesn't mean that you cannot use QuickBooks for inventory or even a CRM. What Intuit is saying is that they are not trying to be everything to everyone. They may be the standard when it comes to SMB accounting tools but they also know that other companies who focus on their area but connect with QuickBooks can create a better and more customizable product for more companies.
From feedback and our research on QuickBooks inventory, it is designed to be a glorified ledger based inventory tool. Meaning that if you only need to check a plus or minus box for increasing or decreasing SKU counts, then QuickBooks is your best option.
What we have found from our experience is inventory counts are only accurate for a very short time. That time also is proportionately related to how many people access and have the ability to interact with those counts. The more people with access - the less time that count is accurate.
Ledger based inventory tools are only slightly better than a strategy of; "it's all in my head" style, or utilizing a basic clipboard or white board version or even a shared spreadsheet that are all equally susceptible to corruption. All of these "styles" can offer a view inventory but when your inventory or the ability to manage assets is your life-blood to keeping the organization running smoothly, then it is time to invest in the right tools for the job. As of 2020, QuickBooks Online does not offer the ability to track item-level or serialized inventory. The online platform is growing in popularity and has been designed from the ground up to be integrated with. QuickBooks Online and desktop both allow for integrations with products to make your platform much more stable and reliable.
If you are considering to move your business to the cloud and worry about the limitations with the online version of QuickBooks, then TRXio is the solution for inventory management. TRXio will not only meet, but will exceed your expectations by enhancing the functionality of Intuits newest cloud based accounting platform.
"I love double and triple data entry"
- Nobody ever.
Save yourself frustration by adding tools that augment automation between your systems. TRXio provides similar work flows to manage your inventory faster, cleaner and more in line with the reality of how inventory flows within your organization. Forcing inventory to act like financial transactions will always leave you struggling to clear up inconsistencies and the stress with too many people with access to your accounting.
The TRXio to QuickBooks Online adds:
Ability to synchronize Customers, Vendors, Orders, Purchase Orders and product information.
Pull estimates and Sales orders from QuickBooks Online to TRXio for fulfillment
Push fulfilled invoices and item receipts from purchase orders that balance the inventory levels in your accounting platform.
For more information on the TRXio-QuickBooks Online integration, or to see a demo, please contact us at 720-446-5861.