How to Enable Advanced Inventory in QuickBooks Enterprise?

How to Enable Advanced Inventory in QuickBooks Enterprise?

QuickBooks Enterprise is an expanded QuickBooks version specifically for a company that requires stronger, additional abilities, such as those with more complex inventory handling requirements. One of the best features of QuickBooks Enterprise is **Advanced Inventory**, which gives many robust tracking tools of inventories from several locations, bar code tracking, and much more. This feature will enable you to make your inventory processes better, hence reducing errors and gaining deeper insight into your stock levels. In this blog post, we will walk you through the process of how to turn on Advanced Inventory within QuickBooks Enterprise.

What is Advanced Inventory in QuickBooks Enterprise?

Before guiding you on how to activate Advanced Inventory, it would be best to know first what it can offer for you. Advanced Inventory helps you with the following:

 

● Track inventory at multiple locations (warehouses, retail stores, etc.)

● Scan barcodes for easy data entry

● Custom inventory items`

● Build inventory assemblies with increased precision

● Enhanced stock tracking with FIFO costing methods

● Detailed reports for managing inventory

Let's go through the steps to turn this feature on in QuickBooks Enterprise.

 

How to Turn On Advanced Inventory in QuickBooks Enterprise Step by Step

Step 1: Verify Your QuickBooks Version

Make sure you are using QuickBooks Enterprise. Advanced Inventory is supported in QuickBooks Enterprise Solutions, not on the QuickBooks Pro or Premier versions.

Step 2: Backup of Your Company File

 Any modification to your QuickBooks company file requires a backup. This lets you roll back in case anything goes wrong.

 

How to Backup:

● Open the File menu.

● Select Back Up Company, and then click on Create Local Backup.

● You will then be prompted to back up your file to a safe location.

Step 3: Access the Preferences Menu

To enable Advanced Inventory:

● Open your QuickBooks Enterprise file.

● From the top of the screen, click on the Edit menu.

● Select Preferences from the dropdown list.

Step 4: Enable Advanced Inventory

Once you have accessed the window for Preferences, you may follow these steps:

1.  You will find and click on the Items and Inventory in the left-hand menu.

2.  Click the Company Preferences button.

3.  Click on Advanced Inventory Settings

4.  Click the button Use Advanced Inventory.

5.  QuickBooks will remind you to close the application and reopen it for these changes to apply. Hit Yes

Step 5: Configure Advanced Inventory Features

Once you turn ON Advanced Inventory, you are then ready to start configuring specific features such as:

 

1. Multiple Location Tracking: When having more than one location within your business, you should configure each one by entering **Inventory > Manage Locations.** Here you can now add new locations, update or delete existing ones.

2. Barcode Scanning: In order to set up barcode scanning, go to Edit > Preferences, click on Items & Inventory and then select Barcodes. You will be instructed on how to attach your barcode scanner and how to configure the system to track items by barcode.

3. FIFO Inventory Method: If you want to track inventory using the FIFO method, go to Edit > Preferences > Items & Inventory, and select FIFO as your costing method.

4. Inventory Assemblies: If you are selling inventory assemblies, you can activate inventory assemblies by looking for Vendors > Inventory Assemblies in QuickBooks. This will allow you to make an assembly of products from raw materials into finished goods.

Step 6. Review And Save

After setting up your preferences, take some time to review everything, and click OK to save your settings. You will then be all set to enjoy the full benefit of Advanced Inventory in QuickBooks Enterprise.

Conclusion

Turning Advanced Inventory in QuickBooks Enterprise can make your business have significant improvement in its stock handling. Whether it is having multiple locations in tracking or barcodes usage, this system can even use a FIFO costing method, where all these are done so the operations will save time and errors. End.

 

Remember, you can always delve deeper into the various Advanced Inventory features and fine-tune your settings as your business needs change!