Advanced Inventory and Industry-Specific Features for QuickBooks Desktop

QuickBooks Desktop remains popular for businesses that prefer desktop software or need advanced inventory tracking and industry-specific features. Unfortunately, QBD 2020 is losing support as Intuit focuses on online accounting solutions.

Tracking bills and expenses manually can be tedious. QuickBooks simplifies this task by automatically downloading banking transactions and calculating what vendors owe you.

1. Advanced Inventory

QuickBooks Advanced Inventory offers manufacturing companies an advanced suite of tools to support them in managing inventory efficiently and accurately. Users can track orders, measure costs accurately and manage product movement between warehouses – not forgetting its barcode scanning option for easy tracking of individual items.

Users can access this feature through their dashboard or online account login, with mobile device management being another convenient method. They can track items by location or serial number while setting reorder points to be alerted as stock runs low.

To activate inventory management features, navigate to the Edit menu and Preferences. From there, navigate the Items & Inventory tab and tick Inventory and Purchase Orders are Active boxes. To disable, click the Advanced Inventory Settings button; to use this feature, you must first sync your license data online and clean up your item list before using this feature.

2. Inventory Expiration Dates on Lot Number

This new feature allows users to track product serial and lot numbers, view expiration dates on sold items, and generate reporting based on this data – helping make informed inventory management decisions and ensure timely product deliveries. Users can enable this option within the Items & Inventory Company file Admin Settings menu.

QuickBooks 2023 adds improvements beyond those already discussed, including improved banking connectivity that enables users to download bank transactions at user-defined schedules without incurring fees for downloads – an essential improvement for companies needing to reconcile accounts frequently and accurately.

Furthermore, payment links have been enhanced to send them directly to customers and collect payments or deposits without creating invoices or bills. Those with an active QuickBooks payments account can now utilize a node card reader for accepting contactless cards, Apple Pay and Google Pay, and any other forms of client payments more quickly and conveniently than ever.

3. Approval Processes

QuickBooks Desktop Enterprise users can create a customized approval workflow for vendor bills. It allows them to organize bills that require approval into an easily navigable dashboard and receive notifications as soon as they’re ready for review with automated notifications.

Users can quickly match invoices against purchase orders and delivery slips to maintain internal control over their accounts payable process while monitoring pending and approved transactions using automated audit trails.

Accounts payable teams can utilize the payment links feature of QuickBooks Enterprise to send invoices directly to customers via email and allow them to pay electronically without first receiving an invoice. Payments will then be recorded in their accounts receivable while creating customer credits as payments come through, helping users stay in line with cash flows while eliminating double entries. They can also establish relationships between two QuickBooks Enterprise company files to automatically automate intercompany transactions such as vendor bills and company checks between company files.

4. Payment Links

Pay quickly with Payment Links – they work natively within QuickBooks with your existing merchant account (card swiped, card keyed, ACH, or check). Accelerate invoice processing and get payments faster by including PayPal, Venmo, or EBizCharge payment links in customer emails that automatically populate invoice information so customers can pay instantly. These payments sync back into your accounting system as updates to invoice statuses so you always know what’s in progress.

This feature is available to QuickBooks Pro/Premier Plus, all QuickBooks Enterprise editions, and all QuickBooks Accountant versions. It requires a QuickBooks Payments account with pricing terms that may include card-swiped fees, card-keyed fees, and ACH/bank transfer transaction fees. Users can track Payment Link details and status and send reminders directly from an enhanced Dashboard; find out more by attending QB Talks’ webinar scheduled for 2 p.m. EDT on September 21.