What’s New In QuickBooks Advanced Inventory 2012?

Posted by on Oct 17, 2011 in News Updates | 0 comments

If some of you have been using QuickBooks Premier or Pro and would like to stay with the Intuit family, then maybe you should have a look at QuickBooks Enterprise Solution Version 12.0 for 2012 – Advanced Inventory. Yes Enterprise Solutions is costly, since it currently retails in US dollars for $3,000 for a five user package, or if you are an existing Pro, Premier, Online or Enterprise user – $2,400.

That’s not the end of the cost because the Advanced Inventory is sold separately and is priced at $699 per year. This add-on has been designed for the mid-sized business that are managing more sophisticated inventory. But read on, and I will tell you what some of the new features are that businesses and ProAdvisor’s have been asking for, and finally have received.

Multi- Location Management –  this new feature will let you move inventory from one location to another without that “drive you crazy” transaction.

Do you need more control over tracking which has had your warehouse running inefficiently?  Then these two new features will help.

First In, First Out (FIFO) Tracking – if you are not familiar with this term it means the first goods purchased or manufactured should be the first units costed out upon sale or issuance. Since inventory costs are in constant fluctuation, this will allow a more relative cost to your inventory which equates into a current value.

Previously in Enterprise Solution inventory was valued at average costing.

Lot or Serial Number Tracking – as these items move through your busines you will now be able to record them more accurately and quicker in processing recalls or warranty calls.

Here are a couple of more that I will let Intuit describe to you in their own words.

Inventory Center: Manages all inventory data in one, easily accessible place. Attach images and notes to items.

Enhanced Inventory Receiving: Separates item receipts and inventory bills for greater flexibility and accuracy in receiving and tracking item quantities and their payments.

So if the above are requirements that you have been missing in your QuickBooks Inventory, than be sure to check out the new Advanced Inventory.

NOTICE: Advanced Inventory is not yet available for Canadian consumers. Sorry, but as always, Canada is last on the list to catch up to US releases.

What will be happening this year, is that the Canadian users will see a jump in upgrades from Enterprise Solution Version 10 to 12.

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