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Inventory System Costing

Could you integrate your inventory system for better insights?


Many inventory management systems connect to QBO

(QuickBooks Online)


Here's the catch -

the transactions it post WILL be garbage...

if you don't set it up and use it properly.


Before you put a system into place,

ask the inventory system provider questions like:

"How much time will this require from me to manage?"

"What are the 'gotchas' that throw everything off?"


Designate the right people (or person) for

  • Purchasing

  • Receiving

  • Orders

  • Shipping

Be thorough:

  • Give them the training they need.

  • Give them timely information.

  • Document processes.


Then -

  • Review your inventory balances at each period end.

  • Do they make sense against your counts?

  • If not, work with the inventory system provider to determine the gaps.


Inventory costing is not easy, but it's worth it - to have accurate COGS, and a balance sheet you could borrow against.

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