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What can the Advanced Inventory Module for QuickBooks Enterprise (Platinum Edition) do for me ?

QuickBooksAdvancedInventoryConfiguration-072318

For Implementation Support and Consulting of your QuickBooks Enterprise product, please feel free to contact us directly at Tel. (714) 901-5740 or by emailing us at Sales@CBRTechnology.com . Please visit our website CBR Technology for more product information.

The Advanced Inventory Module from Intuit offers the Subscriber of the QuickBooks Enterprise PLATINUM Edition several new features. Please be mindful that the Enterprise Silver and Gold Edition of the product DO NOT include these features.

  1. Multiple Warehouse and BIN Tracking Options: In the Advanced Inventory module you can now define multiple warehouse locations as well as turn on the ability to track BIN Numbers for product. However, the AI module does not add automated BIN management features to the solution and all IV transactions have to specify a BIN manually. The Item Warehouse and BIN location information is added to all Quickbooks window which touch the IV module such as Sales Order, Sales Invoices, Purchase orders and inventory adjustments. Also, the Inventory reporting will add the relevant information to the Inventory Valuation reports.

  2. FIFO (First-in-First-Out) Inventory Valuation support: All QuickBooks products, including PRO, Premier and Enterprise Gold and Silver Edition use the average costing method. However, with the Advanced Inventory Module, you can also activate the FIFO inventory valuation method. This is the preferred inventory valuation method for most distribution and wholesale organizations. Please note that changing your inventory valuation method is something you should discuss with your CPA and may have an impact on your federal and local state tax returns.

  3. LOT Number and Serial Number support: The AI module also will give you the option to turn ON Lot or Serial number tracking for your inventory items. It is important to point out that you have to chose one method or the other for your entire system and may not have some items on Serial Number tracking while others are on LOT Number tracking. However, you do have the ability to turn this feature on or off for individuals items. Also, even if a item does have Lot Numbers activated, it is possible to bypass a few warning messages and record a transaction without a Lot Number.