Ways to Use Your POS System to Manage Inventory

What’s the most tedious task you can imagine for your business, the impending chore that makes you wish you were commuting on the LIRR rather than sitting in your office? If you mentally noted anything having to do with inventory management, you’re probably not alone. Inventory tracking is one of the least exciting, yet most necessary, aspects to running a successful business. So, how can your POS system help? Too much of a good thing One principle complaint we hear from clients, especially brick-and-mortar ones, is that they often have excess inventory and are unable to predict what those items will be from quarter to quarter. This is especially problematic for restaurants and retailers that warehouse their own products, as opposed to some e-commerce sites that only order items after they’ve already been purchased online by end users. The good news is that the best POS systems will help you keep track of what is working and what is not. Accuracy is everything One crucial facet of running a business is to be as accurate as possible. This will save you money and time (which equals money). You should complement your POS system with an accounting program like QuickBooks or Peachtree; these are reputable money management tools that will synchronize your finances on all ends. How exactly will integrative accounting programs like QuickBooks or Peachtree help your business, in addition to impeccably monitoring and synchronizing your inventory?

  • Your accounting program (whether QuickBooks or Peachtree) and your POS system will work in tandem, minimizing the human errors that traditionally plague businesses while also saving time and money.
  • All information will be centralized and combined to provide the best product possible, so your business will improve just as our software has.
  • The melding of your POS system and accounting program will provide an effortless process that allows you to utilize the screen of the QuickBooks POS system during customer checkout.

Ultimately, you’ll have a better idea of what inventory works and what doesn’t. You’ll know exactly what is selling when it’s selling. Finally, you will be able to track each item as it moves (or doesn’t). Nothing will be left to chance, and the inventory management aspect of your business will be backed up by cold, hard facts.