QuickBooks Inventory Management: A Step-by-Step Guide

Tracking inventory in QuickBooks is a great way for businesses to save time and money while also optimizing performance and increasing customer satisfaction.

Many small and mid-sized businesses already use QuickBooks for accounting and other financial reasons. If you’re one of them, adding on inventory tracking is a simple process.

Like other cloud software, QuickBooks allows users to access information anywhere and backs up their work securely. This means everyone can view the most recent data no matter where they are or when they need those numbers.

Using QuickBooks to Track Inventory

Small business owners looking to make QuickBooks part of their inventory tracking solution have two options. 

1. Use QuickBooks Inventory Tracking 

Perfect for single channel retail businesses

With QuickBooks Online, small business owners can enter:

• Item value - The price of adding that item to your inventory
• Item sale - The price the item was sold for
  

As items are added or removed from inventory, QuickBooks automatically increases or decreases both the number of items available and the value of inventory managed. 

If your small business has grown to scale – or is in the process – the second option may be better for you. 

2. Use TradeGecko’s QuickBooks Integration 

Perfect for multi-channel retail businesses

Businesses operating multiple sales channels need a solution that ensures inventory counts are accurate everywhere. 

TradeGecko’s integration with QuickBooks allows for management of:

• Multiple locations and warehouses
• Lot and batch tracking
• Bulk actions, including sales orders and more
  

Because of its popularity with accountants and others, QuickBooks is a great choice for companies looking to add automated inventory tracking. Businesses integrating QuickBooks with TradeGecko add a single interface for managing that inventory across channels coupled with in-depth reports and forecasts that help businesses grow. 

Start Entering Inventory with QuickBooks

QuickBooks offers tips on how to add inventory tracking to an existing account, as well as how to add product types and more. 

Whether or not a business uses QuickBooks on its own or through TradeGecko’s integration, adding effective inventory management is an essential part of any growth strategy. Without it, you risk presenting customers with inaccurate information that can lead to confusion, frustration and ultimately abandonment of their relationship with your brand. 

Find out how TradeGecko can help you get the most value out of QuickBooks as an inventory management tool today.