Not Tracking Inventory in Quickbooks Online

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#1
Spock  
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69
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13-Jul-2021 4:31pm
Location:
United States
It seems that some 3rd party inventory management apps don't integrate well with Quickbooks Online.

If a client is happy with their 3rd party app for inventory purposes, it seems like it would be easier to completely disconnect the app from Quickbooks. Revenues and expenses for cash basis taxpayers could be tracked from the bank statements and journal entries could be used to record inventory periodically (when needed). The client would continue to use their 3rd party inventory management application for business operations/management decisions, etc.

Does this sound reasonable? How do you all handle with your retail clients?

Thank you for your thoughts.
 

#2
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2887
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21-May-2018 7:50am
Location:
Northern MI and Coastal SC
Software companies love to call something an integration when it really is not an integration at all. The higher end inventory management systems do have deep integrations with QBO or QBD and work rather well as long as it is all managed by someone that knows what they are doing and how transactions and inventory adjustments flow through, but the cheaper retail systems are poor and really do not push much information into QB.

It is sometimes simpler, as you stated, to fully disconnect POS from QB and do entries. But, it becomes a nightmare if there is a lot of volume, credit cards settle at net instead of gross, etc.

It costs more, but there is a reason I always recommend Intuit's POS system and merchant processing for retail. It exports all relevant information, and it works well when properly set up and maintained.
 

#3
TaxCut  
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299
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24-Feb-2017 12:05pm
Location:
California
I have a client that is asking about using QB Inventory.

We looked into QB POS in the past and determined they needed a customized POS system tailored for their needs and their industry that would possibly integrate with QB.

I haven't looked at QB inventory, but could we possibly run into the same problem if we're not using QB POS?
 


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