Here are answers to Frequently Asked Inventory Questions.
- 1. How do I push inventory to QuickBooks Online?
- iPoint does not support inventory in QuickBooks online.
QuickBooks Online has multiple versions, and only the Plus version can track inventory. At this time, we are developing the iPoint Sync to work with the most common versions of QBO, and inventory is not one of the features we are working on.
- 2. How do I make QuickBooks inventory counts match those in iPoint?
Inventory is reduced in QuickBooks every time you push a Delivery or Standard invoice. Similarly, when you push a Purchase Order Item Receipt, the inventory quantities in QuickBooks are increased. This is great! But how do you sync manual inventory adjustments made in iPoint over to QuickBooks?
Similarly, you may be using summary invoicing instead of the default Deferred Revenue invoice model. That means, instead of pushing an invoice to QB with all the items being removed from inventory, you are creating invoices that are just a single summary line for the total amount. But, again, that means inventory counts are not being adjusted in QuickBooks.
There has got to be a solution! Well, here at iPoint, we’ve thought of these scenarios, and here is the solution.
We recommend a monthly inventory push to QuickBooks. If you make this part of your month-end routine, this process will also streamline your year-end physical inventory counts.
Here’s what you do.
- First, make sure all your allocated items in iPoint are accurate. We have some great instructions on that process here:
- Make sure all your invoices are pushed to QuickBooks.
- Also, make sure all your PO item receipts are synced to QB.
- Now, open the QB Sync List by going to Items > Options > Views> QB Sync List
- Click the Options button and click Show All Items
- Now click the Update QB Stock from iPoint button
- Fill in all your details (for more on these options, click here.)
- Make sure QuickBooks is in Single User Mode
- Click the Continue button
iPoint is now going to check every inventory item in your database and compare it with the QuickBooks inventory counts. If any QB inventory levels do not match, iPoint will push an adjustment to the COGS account you referenced in step 7 above.
Once this sync is complete, QuickBooks will reflect the accurate inventory counts, including things that someone adjusted in iPoint without an invoice or purchase order receipt.
- 3. What’s the difference between the Product Manager and the Product Request Manager?
Both Product Manager and Product Request Manager have a list of items that can be selected and placed on a purchase order. However, they both function very differently.
The main difference is the Product Manager lives on a Sales Order and only has items from that Sales Order. The Product Request Manager lives inside the Inventory Module and works as a dashboard, and only has items that have been requested from various places in iPoint.
The Product Manager is where all of the items sold on a sales order are requested for purchase, placed on purchase orders, allocated, or delivered. If the person managing the parts per sales order is the same person ordering, they can skip the request and simply add to a purchase order straight from the Product Manager.
The Purchase Request Manager (PRM) displays a list of parts that have been requested from various locations in iPoint. The requests could come from Sales Orders, Projects, Work Orders, or Invoices. If a company has a specific person or department ordering products, all needed items should be “requested” and therefore sent to the PRM. Once here, the person in charge of ordering can select all the items from multiple jobs and place them all on Purchase Orders.