Please note this is the first in a series of posts on QuickBooks Point of Sale by our staff Point of Sale expert, Leah Swain.
To get the most from QuickBooks Point of Sale you need to ensure your inventory lists are built with great care and detail. When done correctly, your inventory lists will provide you excellent results in your reporting features, suggest purchase orders efficiently, and allow you to set detailed pricing deals and discounts.
Wouldn’t you love the ability to see what is trending in your store? You will never have to worry about running out of hot items again! Not to mention the benefit of seeing the not-so-hot items that need to be discounted to open more room for the too hot to handle items.
Focusing on proper inventory lists should be done in the initial build of your company file, however, it is never too late to make corrections. Cleaning up inventory lists is always a good idea, especially when you are gearing up for the hectic holiday season. I know it seems daunting so let’s begin with a success story!
We are going to follow along with Jonas and his wife, Nellie. They are the owners of a small general store in a beautiful rural town. The store sells dry goods, apparel, accessories and work boots to the locals. Nellie has even set up some of her own preserves and other items for sale, including her famous cookies! The General Store has been growing over the years and tracking inventory the same way they did when it opened 35 years ago has become tedious and time consuming. Jonas wants to eliminate the need for inventory counts every time he places a reorder, and delete the chance of human error regarding pricing. (Between you and me, I think Jonas just wants to have more time to fish, but that’s neither here nor there.)
Being savoy business people, they called KHB to purchase Intuit Point of Sale. Smart people, those two. Together with the KHB team, Jonas and Nellie will soon start building their inventory lists.