The Step By Step Guide to Set Up Multi-Location Inventory in QuickBooks Enterprise

Why would you need Multi-Location inventory?

My clients use Multi-Location inventory to keep track of their inventory items distributed across various locations, and/or they utilize the bin location feature to pinpoint the precise whereabouts of items within a specific site. These locations may include physical warehouses, company vehicles housing inventory, consignment locations, or inventory held at external manufacturers. For instance, consider an HVAC company with three vans, each stocked with inventory parts. You can establish your inventory site by naming each van and optionally assigning bin locations, followed by setting up your inventory to display the quantity on hand for each part.

Multi-location inventory helps businesses track inventory spread across various locations, such as warehouses, vehicles, or external vendors. For example, an HVAC company can monitor inventory in multiple vans.

Steps to Enable Multi-Location Inventory

To get started, we need to enable the multiple locations feature within QuickBooks Enterprise. Keep in mind that multiple Inventory with Bin Locations is only available with a QuickBooks Enterprise Platinum Edition Subscription. If you currently own Gold or Silver you would need to upgrade to the QuickBooks Platinum or Diamond Edition. Contact us to get the best possible pricing and help with implementation, setup, and training

1. Go to the "Edit" menu.
2. Select "Preferences."
3. Choose "Items and Inventory" on the left side navigation toolbar.
4. Click on the "Company Preferences" tab at the top.
5. Choose the "Advanced Inventory Settings" button.
6. Under the "Multiple Inventory Locations" tab, ensure that the "Multiple Inventory Sites" feature is enabled. You can also enable notifications for duplicate inventory transfer numbers or transactions that would cause inventory to go negative.
7. Checkmark the option to track bin locations within a row, shelf, or bin location if desired. Enable notifications to warn that would cause your inventory to go negative. Keep in mind that when you enable Bin Location Tracking in QuickBooks, all your items will be moved to an unassigned site until bins are created.
8. Click "OK" as many times as prompted to complete setting up your preferences.

Setup Locations and Transfer Inventory

Setting up locations and transferring inventory in QuickBooks Enterprise Multi-Location Inventory ensures efficient stock management across various sites. Begin by creating distinct locations within the system to organize inventory effectively. Once locations are set, you can transfer stock between sites using the Transfer Inventory feature, which helps maintain accurate records and prevent shortages or overstocking. This process enhances visibility, streamlines operations, and supports precise inventory tracking, allowing businesses to meet customer demands seamlessly across all locations.

Read more details on how Setting Up Locations and Transferring Inventory in QuickBooks Enterprise Multi-Location Inventory

Reorder Points and Transaction Forms

QuickBooks Enterprise Multi-Location Inventory simplifies stock management with reorder points and customizable transaction forms. Set global or site-specific reorder points to avoid stockouts, and customize forms to include site and bin details for streamlined operations. This ensures accurate tracking and efficient inventory handling across all locations.

Read more details on how to set inventory Reorder Points and Transaction Forms in QuickBooks Enterprise Multi-Location Inventory.

Bin Location Tracking: Receive and Release Items

Bin Location Tracking in QuickBooks Enterprise allows precise item placement and retrieval within warehouses. Easily receive and release inventory by specifying sites and bins, ensuring efficient and accurate stock management.

Read more details on how to manage Bin Location Tracking in Multi-Location Inventory

Advanced Reporting

Advanced Reporting in QuickBooks Enterprise simplifies inventory management with detailed reports like Quantity on Hand by Site, Inventory Valuation, and Stock Status. These reports provide insights into inventory levels, asset values, reorder needs, and site-specific data to optimize decision-making.

Read more details about advanced inventory reports in QuickBooks Enterprise Multi-Location Inventory

Conclusion

Setting up multi-location inventory in QuickBooks Enterprise improves inventory management across multiple sites, enhancing efficiency and control. With this setup, you can easily track and manage stock, streamline transfers, and avoid inventory errors. For further assistance, don’t hesitate to reach out to us.