Setup and Tracking of Your Inventory in QuickBooks Online

by James Antonio

Inventory is another term for record keeping. It means a list or number of products available with you to keep your customers happy. Now, tracking and maintaining this record can be the most tedious work but is quite crucial as well. You may not want to make a mistake on this as it will have your future investments planned, business growth depends on this and several other factors to consider before you dismiss the subject. It has a vital role in business management. Steps to Setup and Tracking of Your Inventory in QuickBooks Online.

Save Time, Reduce Errors, and Improve Accuracy

Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software.

Yes, you are right on this as well. QuickBooks has a solution for it. QuickBooks offers you features that enable you to track, manage and maintain your inventory. Not only this, you will be able to get the alerts as well when it is time to restock your inventories and create purchase orders. You can consider QuickBooks as a personal help always available to ensure you do not miss out on any appointment or a task for the day. After all, you picked a smart tool for your finance management. It will deliver nothing but the best.

Setup and Tracking of Your Inventory in QuickBooks Online

Initially, this feature stays inactive at the time of installation and it has to be enabled first for usage. Here’s how you can enable this feature in QuickBooks:

Step 1: Turning on the Tracking Setting for Inventory

  • Go to the Settings tab that has a gear icon.
  • And, select the Account and Settings.
  • Click on the Sales button.
  • Then you need to select Edit (pencil icon) in the Products and services section.
  • Click on the Turn on Show Product/Service column on sales forms.
  • Then click on the Turn on both Track quantity and price/rate and Track inventory quantity on hand.
  • You need to select the Save and then hit the Done button.

Step 2: Adding your Inventory Products in QuickBooks

Now you just need to add your inventory items and the records will include all the other details. Under this you can track each product or service you will be selling into QuickBooks. This enables you to quickly add them as line items to your sales forms. Process of adding inventory, non-inventory, and service items can be slightly different:

You can add products you wish to track as a part of your inventory. You should follow the steps to add inventory items. It lets you set and track product quantities of the products you are planning to sell.

You can also try adding products and services you wish to buy or sell, but don’t wish to keep track of them as a part of your inventory. You need to follow the steps to add service items. These are the best examples of services you might wish to sell to your customers including landscaping or bookkeeping or cleaning services. As a part of the requirement, you should follow the steps to add non-inventory items. Nuts and bolts used in an installation can be considered as one of the products you buy or sell but can’t track as inventory.

You can also create the Bundles: Concept of Bundles is pretty much self explanatory. It lets you present multiple products or services grouped together. For example, a combo pack of earrings, a gift basket of fruit, cheese pack offers, or wine. Adding products in a bundle also ensures that you don’t have to select them one by one in invoices or receipts. Services can also be grouped and presented as a bundle or another term will be an affordable and nice package.

Note: You also need to keep this in mind that QuickBooks won’t track quantities for services, non-inventory items, and bundles.

Step 3: Keeping the Track of Selling Inventory

Once you are ready to set up all your inventory products, you can ensure to track them when they sell. There are two ways to track what you sell:

  • You first of all need to create an invoice if you will be getting paid later.
  • Then, you should add a cash memo if your customer paid on the spot after the service or products received.
  • Then, QuickBooks decreases what’s on hand by the amount referring to the invoice or cash memo.

After all deduction, you also need to check what’s available on hand and what’s on order as you work further. You also need to check what’s left on the order as you work on an invoice, cash memo, or another type of transaction. Then you just need to hover your pointer over the quantity you entered for an item to see more info.

If you set reorder points or set up low stock alerts, QuickBooks will also let you know when something’s running low.

Step 4: Restock of your Inventory

QuickBooks also tells you when it’s time to restock due to the alert you set in the previous step. Referring to the alert, you can order or restock inventory right in the QuickBooks. Then, you can also track what you receive from suppliers and what’s still on order that has to be decreased. When you do, the quantity on hand automatically updates by the number.

Step 5: Check the Status of your Inventory by Referring to the Reports

As a final stage of the process, you can also access updated reports to instantly check your best clients, distributors, what’s on hand, cost of goods, and so on.

Accounting Professionals, CPA, Enterprises, Owners

Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number 1800-689-5491 or chat with experts.


Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

On-time Support

We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

img

Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

img

Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

img

Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

img

Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

Get Support

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

Dancing Number

Kindly Provide The Following Information To Download The Dancing Numbers.

X





    Top