I've been using Quickbooks Enterprise for many years, but a few years ago I started using Connectwise as my main program for customer management, invoicing, and inventory management. Quickbooks is relegated to expense management and financial reporting. Connectwise batches over inventory transactions to Quickbooks, but the inventory balance in Quickbooks never seems to match Connectwise. The variance typically grows to about $100k (on $350k worth of inventory), then I fix it by doing a physical inventory count and adjust Quickbooks at the same time. Is batching every inventory transaction over to Quickbooks the accepted practice, or do most companies (we do $15 mil annual sales) make monthly journal entries instead? I really don't care what Quickbooks says we have in inventory. I just want the balance sheet to be correct at month end.
Batching inventory management software to Quickbooks
With this emphasis on meeting your accounting needs, QuickBooks provides limited offerings for inventory management. As a result, the software may fail to meet your inventory management expectations, but it's not designed to.
Filed Under: Accounting