Manufacturers generally have to deal with leftover parts after a manufacturing job is finished. There are many reasons why they might wind up with leftover parts. Perhaps someone picked the wrong number of raw materials before manufacturing even began or the bill of materials was off by a few parts and requires to be adjusted in the future or various parts were damaged in the manufacturing procedure and they have to be scrapped. Whatever the case may be, you require to be capable to account for those leftover parts in your inventory and accounting records because they are significant if you want to have completely appropriate records.
However, it is not easy to account for leftover parts in QuickBooks. That is where Fishbowl’s inventory management software becomes immensely profitable. There are three simple ways to manage with leftover parts in Fishbowl, which we will discuss in detail below. But first, we should begin this discussion by talking about the relationship Fishbowl’s inventory management software has to QuickBooks’ accounting software.
Fishbowl integrates seamlessly with QuickBooks. In fact, it is the No. 1 selling construction and warehouse management solution for QuickBooks, and it has held that position for more than a decade. When you scan a product and make a change in your inventory records utilizing Fishbowl, you can automatically update your financial records in QuickBooks. You can schedule regular exports from Fishbowl to QuickBooks on an hourly basis, regular basis, weekly basis, or whatever program works best for you. So the changes are not reflected immediately in both systems, but they quickly return to the same page as one updates the other to reflect changes made to it.
Here are three ways that you can deal with leftover parts in Fishbowl :
1. Return them to assets. To return remaining parts to your inventory, scan the parts with a barcode reader and put them back where you first got them from your warehouse. Your accounting records in QuickBooks will be automatically updated after you do this.
2. Expense them. To scrap remaining parts, open the Inventory module in Fishbowl, select the part you want to scrap, and click the Scrap Inventory button. QuickBooks will be updated with a charge for that part.
3. Add them to a product’s cost. To add scrap parts and materials to the final cost of a product, you can enter the number of parts that were utilized or damaged into Fishbowl. Then QuickBooks adds the charges of those parts into the product’s total cost. This also helps you know exactly how much inventory you have on hand in real time.
Fishbowl offers superb inventory management software. It fills the gaps in QuickBooks inventory management capabilities, which are quite limited. It is an accounting solution, so it should not be expected to do everything. And that is why Fishbowl is so profitable.
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