You already know the interesting life cycle of retail bookkeeping if you work in retail or commerce. The truth is that retail accounting is a complicated topic due to the tasks associated with the manufacturing level, the warehouse level, and the asset level. It would help if you had inventory management software for retail companies that folds the full life cycle of the retail process into your retail tax planning and retail bookkeeping—fortunately, Fishbowl can help.
If you've already heard of Fishbowl, it's no secret to you that so many firms and companies use this inventory management software specifically for its integrations. The sticking point for many decision makers is Fishbowl's full integration with QuickBooks. What's more, Fishbowl is actually compatible with the QuickBooks desktop and online versions. It actually gets a lot better beyond that. Fishbowl offers full integration with some of the heavyweights in digital commerce. Here's the list:
Fishbowl is one of the only inventory management software platforms to offer such robust integration. There's a really big perk here, even if you only use one of the platforms on the list. As your needs shift, you may shift your e-commerce platform. Having a retail accounting platform that offers such variety means that you have the freedom to change your strategy without totally uprooting your plan for retail tax planning and accounting.
The Three-Point Approach to Retail CPA Coverage
What would retail financial advisers tell you are the most important aspects of managing a production-to-delivery environment? You have to take into account the manufacturing angle, the warehouse angle, and the asset angle. Fishbowl is unique because it manages all three seamlessly and fluidly on one platform. That means better continuity, accountability, and insights. What does Fishbowl offer on the manufacturing side? Here's a look:
- Generates work orders.
- Saves recurring work orders.
- Calculates inventory needs.
- Tracks inventory from order to delivery.
Fishbowl uses automation and predictive measures to make sure you're not wasting time or resources. In fact, you can expect a reduction in the number of steps in your manufacturing process across the board. Better estimates for lead time also help to keep things pushing along.
The warehouse side of Fishbowl creates a more seamless way to handle things like cycle counting and batch picking. One of the big issues that retailers and suppliers deal with is unpredictable or untraceable carrying costs. Fishbowl gives you a better way to manage warehouse and carrying costs. You're getting real-time inventory updates that allow you to generate accurate orders. There's never any fear of promising too much when clients place orders. A standout feature of the warehouse side is an automatic reordering option for products that helps to keep a more consistent inventory based on projected and recurring orders. Additionally, you're able to scan barcodes for reordering and cycle counting inventory.
Asset tracking is another big strength of Fishbowl. You're simply going to have a better view of your stock at any given moment. That means that both overstocks and shortages can be avoided. Here's a look at how asset tracking performs:
- Tracks items by lot numbers, serial numbers, expiration dates, and additional markers.
- Monitors asset levels at multiple locations and stages.
- Converts units of measurement to smartly configure a pallet.
- Dictates how to pick, pack and ship items with greater accuracy and efficiency.
Volume isn't necessarily a consideration when converting over to Fishbowl. The platform is highly scalable to meet the needs of companies of all sizes. The bottom line is that you're creating a more accurate inventory that makes it easier to trust your costing method.
Looking for Inventory Management Software That Offers a Smarter Way to Cost and Track Your Inventory at Every Stage?
Fishbowl is a platform that does a lot. However, you shouldn't let that intimidate you if you're making the leap from a more antiquated method of handling inventory financials. Jumping in with help from a retail CFO advisory is the preferred way to bring Fishbowl into your operations. WE at Fusion CPA can put you with a team of dedicated retail financial advisers to work on your upgrade. We'll be happy to show you the benefits and features of Fishbowl through the eyes of a retail CPA. We understand how to integrate business goals with cutting-edge tech to put your objectives in action. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
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