Picture a world where your inventory practically manages itself, your shipping labels materialize with a click, and your sales channels sync like a well-tuned orchestra. Does it sound like a small business owner's dream? Well, it's time to wake up because QuickBooks Online (QBO) is turning this dream into reality with its latest suite of features that are coming soon for 2024.
It is definitely something to look forward to using.
There will be no more juggling spreadsheets, wrestling with variant SKUs, or playing detective with your stock levels. QuickBooks Online has rolled up its sleeves and dived deep into what makes product-based businesses tick. The result? A powerhouse of new tools that will liberate you from these manual tasks and have you wondering how you ever managed without them.
So, buckle up, small business heroes. We're about to embark on a tour of QBO's advanced updates, which promise to change your inventory management from a necessary evil into your secret weapon. These innovations will redefine how you handle your products, fulfill orders, and ultimately grow your business, putting you firmly in control.
Let's explore the Fantastic Four
Inventory Variants
Real-Time Sales Channel Integration
Simplified Inventory Counts
Simplified Shipping Labels.
Each feature is designed to solve real problems and save precious time and money, making your operations more efficient and your business more prudent. They are available in QuickBooks Online Advanced and QuickBooks Plus. Ready to see how QuickBooks Online is changing the game? Let's get started!
Inventory variants: A new era of product management
What's New?
QuickBooks Online has introduced a powerful inventory variants feature, addressing a long-standing need for product-based businesses. This update brings a new level of sophistication to the Product & Services section of QBO.
Key Features:
Consolidated View: Manage all products and variants using a user-friendly interface.
Detailed Tracking: Keep tabs on quantity on hand, price, cost, and SKU for both products and their variants.
Bulk Import: Easily import products and variants via bulk upload or directly from connected sales channels.
Stock Alerts: Receive clear notifications when inventory is running low or out of stock.
Streamlined Replenishment: Convert low-stock alerts directly into Purchase Orders for quick restocking.
Benefits for Businesses:
Improved inventory accuracy
Enhanced product organization
Time savings through automated imports
Reduced risk of stockouts
Real-time sales channel integration
QuickBooks Online now offers seamless integration with multiple sales channels, providing real-time orders, fulfillment, and payout tracking.
Features:
Automatic import of new sales orders from various channels
Sales orders converted to invoices with accurate inventory items for precise COGS tracking
Up-to-date fulfillment status tracking
Automated payment import to mark invoices as paid
Why It Matters:
This integration eliminates manual data entry, reduces errors, and gives businesses a holistic view of their sales across all channels.
Inventory count made simple
Inventory accuracy is critical for any product-based business. QuickBooks Online's new inventory count feature makes this process a breeze.
How It Works:
Perform quick inventory counts for selected products or your entire catalog
Real-time counting interface
Save and resume functionality for extensive inventories
The Impact:
Frequent and accurate inventory counts lead to better stock management, reduced write-offs, and improved financial reporting.
Shipping labels: fulfillment simplified
In partnership with ShipEngine, QuickBooks Online now offers integrated shipping label creation and management.
Key Features:
Discounted Rates: You can now access deeply discounted carrier rates directly within QBO.
Rate Comparison: Easily compare shipping rates across USPS and other service options.
One-Click Label Creation: Purchase, create, and print shipping labels directly from an invoice.
Pre-populated Information: Shipping details are automatically filled in from invoice data.
Shipment Tracking: Monitor and manage shipment status, including the ability to void labels.
Benefits:
Cost savings on shipping
Time efficiency in order fulfillment
Improved accuracy in shipping information
Better tracking and management of shipments
We want to let you know about a must-have tool that won’t cost you a penny but will save you money on shipping. It’s called Share a Refund, and it performs automatic audits to ensure your shipments arrive on time and are handled properly by the shipping provider. Otherwise, it claims a refund for you. You don’t have to do anything other than sign up here.
A new chapter for QuickBooks Online users
These new features in QuickBooks Online represent a significant leap forward for small and medium-sized businesses. By addressing and offering excellent solutions for substantial challenges in inventory management and order fulfillment, QBO empowers businesses to operate more efficiently, reduce costs, and provide better customer service.
As these features complete rolling out throughout 2024, businesses using QuickBooks Online Advanced and QuickBooks Online Plus will be better equipped to handle the complexities of modern commerce. Whether managing a complex product catalog, selling across multiple channels, or streamlining their shipping process, QuickBooks Online now offers the tools they need to succeed.
Stay ahead of the curve and explore these new features to see how they can transform your business operations. The future of small business management is here, and it's more powerful and user-friendly than ever before.