How to Setup and Activate QuickBooks Advanced Inventory?

Published by John Smith at November 14, 2018

Features of QuickBooks Advanced Inventory

The following is a list of all the features that can be availed in QuickBooks Enterprise version:

You can easily perform the following tasks after enabling QuickBooks Advanced Inventory:

- The user can track multiple locations within a warehouse and transfer items from one location to another.
- You can track shelf/ rack/ bin locations.
- The user will be able to track FIFO inventory cost.
- You can also perform barcoding in advanced inventory feature.

The feature “QuickBooks Enterprise Advanced inventory” is only available in the Platinum subscription level of QuickBooks Enterprise.
This feature helps in streamline purchasing and purchase order process.
You can view the cost of inventory items and the current value of inventory in stock at any time.
QuickBooks Users can manage the shipping process, picking, and packaging in one place.
You will get the feature of Mobile Barcode Scanning that permits you to send sales orders to workers.
QuickBooks Advanced Inventory permits you to customize inventory reports and transfer data from one location to another.

How to set up a QuickBooks Advanced Inventory?

If you want to track multiple inventories stored at different locations or sites, then turn on Advanced Inventory. You require to set up Advanced Inventory correctly to ensure that your quantity on hand by the site is accurate. Given below are the steps to set up the Advanced Inventory QuickBooks:

Step 1: Set up inventory sites.

The first thing you need to do is to tell QuickBooks where you track inventory. All this location is known as sites.

In the Lists menu, choose the Inventory Site List.
Choose Site > New.
Write down the required information.
Repeat the above steps until you are down with all the sites.

Step 2: Use another method to track your inventory.

You have been used a different method to track multiple inventory sites. Before using multiple inventory sites, make sure that the numbers of inventory should be correct.

You have to take additional steps to switch to the Advanced Inventory that will depend on your current method.

You can also track inventory at multiple sites except for QuickBooks. For instance, in Excel or different software.

How to switch the method to track Advanced Inventory?

Make a report to identify the quantity on hand at each site by using other software.
If you need to set up your inventory in QuickBooks online.

How to use class tracking to track inventory sites?

In this method, you will use classes to represent each site. After that, you need to classify the sales transactions and inventory purchases.

Calculate the QOH at each site.
You need to Clean up the item list.
- You must have one assembly part in QuickBooks. So, you can match it by each inventory part you purchase or sell.
- This inventory part must correctly reflect across all site quantity on hand for that item.

Step 3: Set reorder points for each site. (Not mandatory)

Open the Lists menu and choose the Inventory Site List.
Choose the Set Reorder Points from the Activities.
Now, you have to select the site for which you need to set reorder points.
Enter the reorder point for each site in the Site Reorder Point column.
Choose the Set to reorder point to set reorder points for other sites and choose the other site.
Repeat the above steps until you haven’t set reorder points for each site.
Choose OK.

Step 4: Shift the item’s opening quantities to each site.

Now, you will be able to shift your inventory to the actual sites. To do so, perform the following steps respectively:

Go to the Inventory menu and choose Transfer Inventory.
Add the correct transfer date in the Date field.
Add the transfer number in the Reference No. field. We advise you to add “setup 1, “and “setup 2” for these transfers.
Choose the temporary inventory site from the Transfer.
Choose the inventory items. For this, you need to follow the steps written below:
- Choose individual items - Select the Item column, and select the inventory item.

- Choose multiple items - Choose Find & Select Items and verify the items that you need to transfer. After that choose Add Selected Items.

Add the number to transfer in the Memo field.
Choose Save & New.
Repeat the above steps for each site.
Once you are done with all the sites, choose Save & Close.

How to turn on QuickBooks Advanced Inventory in QuickBooks Enterprise?

Follow the steps written below to turn on “QuickBooks Enterprise Advanced inventory”:

Go to the Edit menu in QuickBooks Enterprise and choose Preferences.
Click on Items & Inventory by moving your cursor to the left panel when the window appears on the screen.
Now, you will have two divided sections, the first one is My Preferences and the second one is Company Preferences. You need to choose Company Preferences.
After selecting it, you will have four sections, you need to select Advanced Inventory Settings at the bottom of the first section.
After that, you have to enable “Multiple Inventory Sites” Under the Multiple Inventory Sites.
Choose Ok at the bottom of Advanced Inventory Settings.
In the end, you need to click on OK on the right side of the Preferences window.

You can close your QuickBooks Enterprise for the smooth working of QuickBooks Advanced Inventory Feature and start it again.

How to Activate QuickBooks Advanced Inventory Settings?

You need to go through the following point before activating advanced inventory QuickBooks in QuickBooks Enterprise:

First of all, you are required to align the license that has been received at the time of purchasing QuickBooks Enterprise Software. Then, you will be able to turn on QuickBooks Advanced Inventory. Follow the steps written-below to align license:
Click on Help that is on the right-side of QuickBooks Enterprise version.
Choose Manage My License and after that, you have to choose Sync License Data Online.

After following the aforementioned point, you can enable the feature of QuickBooks enterprise inventory.

Problems that you may face while activating Advanced Inventory

If one piece of information is missing, then you will be bound to activate this feature in your QuickBooks Enterprise. This happens because of the final installation of the software in the device.
When the license is not getting synchronized. To resolve this issue, you need to know that the sync failure may appear due to various incompatibility or technical glitches.

How to resolve Sync Failure issues?

You may face Sync failure issue at the time of synchronizing your license. Perform the following steps in order to fix such issues:

Access the Reboot.bat file.
Resolve the Microsoft.Net Framework, MSXML, or errors associated with C ++ language that is running on your device. You can utilize QuickBooks Install Diagnostic Tool to troubleshoot such errors.

To Conclude:

Finally, you have understood the process to enable “QuickBooks Advanced Inventory” through the above blog. All the simple and quick steps have been mentioned in the blog. The aforementioned steps to enable the advanced inventory features of QuickBooks enterprise can be tricky or confusing for those who are not from the technical background. Therefore, we recommend you to take help of a technician or an expert while facing issues. In order to get in touch with one of the experts, you are free to call us at any time by dialing our QuickBooks 24/7 Support Phone Number +1-855-365-6O12.