Read this next: Module 7: Sales Channel Integration Setup
Here we’ll cover:
- Overview of stock control
- Confirming and adjusting your stock levels
Now that you’ve set up your inventory, relationships, and price lists, the next step is to confirm and update your stock levels to ensure that they are accurately reflected in QuickBooks Commerce.
Overview of Stock Control
The stock control section is the only section of QuickBooks Commerce where you will adjust the stock level of your products.
There are five ways to adjust your stock levels in QuickBooks Commerce:
- Creating and receiving a Purchase Order
- Completing a Production Order
- Fulfilling a Sales Order (manual or automated)
- Performing a Stock Adjustment
- Performing a Stocktake
Purchase Orders
When you receive a purchase order, either partially or in full, the stock levels of your products will be updated within QuickBooks Commerce along with financial information, including Moving Average Costs and Stock on Hand values.
Production Orders
With QuickBooks Commerce for Manufacturing, you have the ability to assemble new products, and complete production runs either partially or in full, accounting for wastage along the way, which will update your ledgers accordingly.
Sales Orders
When a sales order is fulfilled, your stock levels will be updated within QuickBooks Commerce along with financial information, including Moving Average Costs and Stock on Hand values.
Stock Adjustments
Stock adjustments are typically made to account for an increase or decrease in inventory that can be assigned to a specific reason for tracking purposes (recall defining your stock adjustment reasons in Module 2: Setting up your Account). Making a stock adjustment will affect financial information, including Moving Average Costs and Stock on Hand values.
Stocktakes
Stocktakes are performed to perform inventory counts either periodically or in full. When you reflect stock level changes by performing a stocktake, a product’s Moving Average Cost is not updated.
Confirming and Adjusting your Stock Levels
If you imported your stock levels in Module 3 while you imported your inventory and are incorrect, you could perform a stocktake to update your stock levels. This will not affect your inventory’s Moving Average Costs.
Go to the Stock Control section and click on ‘Stocktake.’ Then, on the top right-hand corner, click the drop-down and select 'New Stocktake.' You will be redirected to this page:
Click 'Authorize'.
Next, select the location you wish to perform a stocktake for and click 'Begin stocktake.'
There are two ways to do a stocktake in QuickBooks Commerce - Manually or via a Barcode Scanner.
If you update only a few product variants or do not have a barcode scanner, do a manual stocktake.
If you have a barcode scanner and your products use UPC barcodes, using the barcode scanning method will speed up your stocktake process.
Manual Stocktake
Click on the “Manual Stocktake” button.
Update the variant quantities accordingly. This will be the new quantity recorded in QuickBooks Commerce, and it will override the current Stock on Hand value.
Once you have updated the quantities, click “view summary.”
If everything looks good, click “Finalize Stocktake.”
You will be taken to a success page where you can click to view the Stock Adjustment summary in QuickBooks Commerce. If you made a mistake, the stock adjustment could be reverted.
Stocktake with a Barcode Scanner
Connect your barcode scanner to your device and make sure it is working.
Click the “Barcode Scanning” button via the stocktake section.
Scan the barcode on your product variants. If the barcode exists in your QuickBooks Commerce inventory, each scan will register as a quantity of 1.
You can choose to scan multiple times on the same product to increase the quantity or manually edit the quantity of the product variant while in barcode scanning mode.
If you scan the same barcode again after editing manually, it will continue counting from your entered value. If the barcode does not exist in your QuickBooks Commerce inventory, it will show an error - the barcode is not found.
It will not appear on your summary page.
Switching from barcode scanning to manual stocktake
You can switch from barcode scanning mode to manual stocktake mode by clicking on ‘Manual stocktake’. You can continue doing a stocktake without losing any information.
When you go to ‘View Summary’, it will show you the edits you made on both the manual stocktake (if any) and barcode scanning.
Check that the quantities are accurate and “Finalise stocktake.”
Your changes have been successfully recorded and can be viewed as a stock adjustment.
To learn how to use barcodes in QuickBooks Commerce, click here.
If you wish to set up your socket mobile barcode scanner on your iPad, click here.
I have connected my barcode scanner to my mobile device (e.g., iPad, iPhone), but it does not work for stocktake. Why is this so?
Our stocktake tool works on a web browser and follows the keyboard mode, a different model from what allows the scanner to work for our iOS App. According to this article, to use a barcode scanner for the stocktake tool, reset the scanner to the correct mode. If you want to use a barcode scanner for the iOS app or your Mac, reset it accordingly, as described in this article.