Efficient Accounting Software with Inventory Management for Manufacturers

All businesses can benefit from implementing an Accounting software with Inventory Management.

Manufacturers have their own specific set of needs when it comes to setting up and maintaining an accounting software with Inventory Management, especially when it comes to inventory.


With the right Accounting software with Inventory Management, a manufacturer can increase profits, streamline practices, and keep customers happy.


Here are some of the most important features of an accounting software with inventory management for manufacturers, along with their benefits.


Accounting Software with Inventory Management
Accounting Software with Inventory Management


Assemblies

‘Assemblies’ is a term that refers to creating finished products from other component items in your inventory within your accounting software system.

Once you set up inventory components and organize which ones are used to create the finished item (“assembly”), you can move forward with production.


You enter which assembly items to be produced, and the system will pull the necessary component items out of inventory, and let you know what is needed. (It will also show you whether you need to order any missing components.)


Using an Accounting Software with Inventory Management assemblies helps you understand your profits, streamline your order management, and stay organized.


Bill of Materials

A bill of materials is a list of materials to be used for an assembly process.

When you create a production plan to build your assemblies, the system looks at what you are building and then looks at the supplies that are needed for that plan.


A bill of materials lists what is needed, and what is available or not available in your inventory. An Accounting Software with Inventory Management is the Best solution.



Costing Method

User-specified costing method, ranging from LIFO, FIFO, average or standard.

Generally, your accountant can help you determine the best costing method for your organization, and your accounting system should be set up accordingly.


Item Alias

Item alias refers to the ability to give inventory items alternative names for easier lookup of name variations.

When you have a long list of inventory items, it can be difficult to remember exactly what each item is called.


Setting up each item with an alias, or alternate name can help you find inventory items in the Accounting Software with Inventory Management more easily.


Physical Inventory Count

Taking a physical inventory count allows you to update your on-hand quantities and adjust for accuracy.

Accounting Software with Inventory Management typically has a tool that allows you to print documents that aid in the process of collecting a physical inventory count.


Pricing Method

A pricing method allows you to specify, on an item by item basis, how to calculate the price of the item.

Common pricing methods include fixed price, markup based on cost, gross profit margin based on cost, the percentage of base price, other.


Your accounting software with Inventory Management should accommodate the pricing system that works for how you calculate pricing for your products.


Serial/Lot Number Tracking


Certain types of products carry serial or lot numbers and those numbers need to be tracked by the manufacturer.

The ability to track serial and lot numbered items within your accounting Software with Inventory Management is more organized and more easily accessible than tracking them on a spreadsheet or by hand.

Multiple Units of Measure

If you purchase products in one unit of measure and sell in a different unit of measure, you will need to the ability for your accounting software to handle that capacity.

Managing multiple units of measure within your Accounting Software with Inventory Management allows you to keep inventory numbers accurate and streamline the order entry process.
Make the most of your Accounting Software with Inventory Management by using features that are designed to help manufacturers!

Transines Solutions provides an Accounting Software with Inventory Software which has the tools manufacturers need to manage their inventory and much more.

Visit the Transines Solutions to Learn more about the Accounting Software with Inventory Software.
Efficient Accounting Software with Inventory Management for Manufacturers Efficient Accounting Software with Inventory Management for Manufacturers Reviewed by Hredanth.k on March 24, 2018 Rating: 5
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