Take control of your inventory and distribution
with the complete business management system
for QuickBooks® users.
Inventory management
Inventory management is critical to realizing high levels of profitability and customer satisfaction. Too little product in stock can result in lost sales and disappointed customers. Too much inventory on hand ties up capital that could be used for revenue generating activities or operational improvements. It’s a balancing act that businesses know well and seek to solve.
ACCTivate!'s inventory control tool set is flexible, robust and proven, yet continually evolving to integrate new technologies and capabilities. Key features include:
Inventory Visibility |
Multiple Product ID Codes |
Alternate Product Descriptions |
Multiple Units of Measure |
Inventory History |
Valuation & Costing |
Real-time Inventory visibility from one screen
The ACCTivate! Inventory product screen allows at-a-glance visualization of key inventory control indicators and enables real-time inventory management and analysis.
Monitor all aspects of inventory from one location including:
Multiple ID codes for each product
Identify products by multiple product ID codes that may be associated with each product. Alternate product IDs may be used as an alternate lookup key or may be printed on the sales and/or purchase documents. Each product ID code may contain numbers, letters, special characters and embedded spaces.
Examples of product ID codes include:
Alternative inventory product descriptions
Items in inventory can be described with two descriptions to accommodate different user groups and needs. The alternate description can be used to further identify and clarify specific products beyond the general description.
Usage examples include:
Multiple Units of Measure
ACCTivate!'s flexible multiple units of measure functionality allows a primary and single alternate unit of measure to be used for each product in the inventory.
The selling price may be stated in either the primary unit of measure, alternate unit of measure or any other unit of measure for which there is a universal relationship (i.e. inches to feet).
Inventory History
ACCTivate! maintains a comprehensive history of buying and selling activities from the original request to the completion of the order with visibility into current status, progress and activity completion status.
History can be used to:
ACCTivate! Inventory valuation methods
Average: The weighted average cost of inventory on hand. As new stock is received, the total value of the received inventory items is added to the value of the
existing inventory items. The resulting value is divided by the resulting quantity on hand to form a true weighted average cost.
Standard: All inventory on hand is valued at the standard cost established for the product. Standard cost may be changed at any time by entering a balance
adjustment transaction.
LIFO (Last In First Out): When inventory is received, a cost-layer is established which identifies the quantity, unit cost and total value of goods received
into inventory in this transaction. As inventory is sold, the layers are costed and depleted beginning with the most recent layers.
FIFO (First in First Out): When inventory is received, a cost-layer is established which identifies the quantity, unit cost and total value of goods received
into inventory in this transaction. As inventory is sold, the layers are costed and depleted to the oldest remaining layer.
Actual (Lot and Serial Products Only): When inventory is serial-numbered, the option exists to cost each item sold at the actual cost for which it was
purchased. When inventory is lot-numbered, the actual cost is the weighted average of all purchases for that lot.
Landed Cost
Added Cost
Management Cost
Vendor Cost
ACCTivate! ~ Inventory Control & Warehouse Management Software for QuickBooks
Maximize resources & improve inventory management with the flexibility of ACCTivate!'s tools for creating finished products from multiple inventory items. Whether products are made to stock, made on demand or a combination of the two, ACCTivate! controls the inventory, and provides visibility on sales, margins, availability and anticipated current and future component inventory requirements.
Bill of Materials (BOM)
ACCTivate!'s multi-level Bill of Materials is used to specify the components used to build a product and can be used for products designated as either an assembly or a kit.
ACCTivate!'s Bill of Materials key features:
Batch process manufacturing allows for components to be adjusted based on seasonal requirements, availability, or the requirement for substitutions.
On product produced, batch process manufacturing provides the ability to compensate for variable yield with the ability to alter the quantity produced.
Assembly |
Kitting |
|
| Made to stock | Made on demand | |
| Product example |
Component 1 = Table top Component 2 = Pedestal Component 3 = Table base Three table parts are boxed as a product and placed on shelf. Upon receipt of an order, the boxed product is pulled and shipped. |
Component 1 = Table top Component 2 = Pedestal Component 3 = Spindle legs The components are not combined to form the end product until an order is received. The components can be combined as either a table with a pedestal & base or as a table with 4 spindle legs. Upon completion, the resulting product is boxed and immediately shipped. |
| Common uses | Light manufacturing: businesses that make their own inventory products and need to maintain a bill of materials, produce work orders, maintain component/raw materials inventory, foreign or domestic outsourcing |
Situations that require simple assemblies or an unassembled collection of components sold as a single unit for a specific order, drawing components from inventory
at the time of picking based on an associated BOM. By using kitting rather than assemblies the components are not dedicated to a particular finished product until an order is received and scheduled for delivery for that product. |
| Inventory management |
> Upon creation of the new product,
the components used in the assembly are depleted from inventory and the new product is added to
replenish the finished goods inventory. > “Where Used” report provides a listing of each product whose bill of materials calls for the use of a component
|
> Upon invoicing of the customer
order, the components used in the kit are depleted from inventory. > Availability is drawn from the components rather than the kit. > Reorder is at the component level. > “Where Used” report provides a listing of each product whose bill of materials calls for the use of a component
|
| Pricing | Pricing is based on the end product | Pricing is based on the end product |
| Costing | Cost of assembled product is derived from cost of components at the time of assembly | Cost of material is derived from components at the time of shipment |
| Benefits |
> Reduce production cost by
producing larger production runs > Increase customer satisfaction by shortening lead times > Achieve predictability through the use of documented, standardized processes with the creation a bill of material (BOM)
|
> Reduces level of components
required by delaying commitment of components until order is received > Ability to adapt to changes in customer demand > Allows for Just in Time (JIT) inventory management > Enables flexible and short term promotions > Achieve predictability through the use of documented, standardized processes with the creation a bill of material (BOM)
|
Want to know more about the ACCTivate! for QuickBooks Assembly & Kitting features?
ACCTivate! ~ Inventory Control & Warehouse Management Software for QuickBooks
Provide customers more choices without creating an inventory management bottleneck with ACCTivate!'s Matrix Inventory management. Used in many different industries - apparel,
jewelry, footwear, paint manufacturing, flooring, sporting goods – anywhere color, size, style or pattern variations require complex inventory control and tracking
capabilities.
Simplify the definition, creation, and tracking of matrix inventory groups with ACCTivate!'s Matrix Inventory capabilities and
> Reduce inventory data entry and management labor expense
> Standardize product descriptions
> Increase accuracy
> Streamline sales order management
> Gain visibility
ACCTivate! Matrix Inventory Features and Functionality
> Each variation will have its own cost
> Variations are managed as separate SKUs
> Sales history is maintained at the matrix level
> Inventory movement is maintained at the component level
ACCTivate! ~ Inventory Control & Warehouse Management Software for QuickBooks
Advanced tracking
ACCTivate! for QuickBooks Inventory management lot and serial number control capabilities deliver enhanced tracking with the flexibility and traceability
required by business in specialized industries.
Key features include:
> Trace lots back to suppliers, through outsourcers or
> Optionally, capture lot or serial number at the time of
> Manage, view and report on source, expiration date,
> Comply with regulatory requirements
> Pre-assign specific lot or serial numbers for the
> Use mobile computing with an integrated barcode
ACCTivate! ~ Inventory Control & Warehouse Management Software for QuickBooks
Below is an extensive list of the Inventory management capabilities of ACCTivate!
Some features are optional.
ACCTivate! ~ Inventory Control & Warehouse Management Software for QuickBooks
Warehousing
Purchasing
CRM
Sales order management
EDI
Mobile Computing
Picking & shipping
Service management
Reporting
Foundation
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