How does a third-party stock module work?
We use QuickBooks Online (QBS) to maintain and track stock. I know QBS’ stock module is very basic— designed for a small number of items. We have now reached over 2000 lines of products. I am looking to deploy a separate stock module which could easily integrate with QBS. I do not know how stock valuation with third-parties work.
Could anyone correct me if my understating is right:
The stock module will keep the stock on hand and stock valuation, and QBS keeps the balance sheet value feed from the stock module.
In effect, QBS will not be burdened with the stock tracking and acts as if we are using a “Periodic” stock method.
Currently, our process is very inefficiency and time-consuming. We keep Debtors ledger for a sales order to track stock, but we are essentially cash business. A customer orders goods from our online store pays in advance (Mostly using Credit Cards), we then deliver the order.
Ideally, I would like to remove the two-way processing of sales. The payments by customers should be direct should be posted into sales.
Any comment would be much appreciated.