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How does a third-party stock module work?

How does a third-party stock module work?

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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.

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By johnt27
07th Dec 2020 12:16

The answer to this question really depends on which 3rd party stock app you'd be implementing.

At their most basic stock apps will keep on top of the overall stock and push sales, purchases and stock amounts into QBO. Some do this more comprehensively than others and some allow the batching of transactions to reduce strain on the API and volume limits of QBO.

If you go for a full stock management app you'll be doing most, if not all, sales and purchase processing in the stock app, along with stock taking, BOMs etc. This could also include links to online sales platforms/websites but will not necessarily record payments.

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By paul.k2
15th Dec 2020 10:27

I have worked on a number of 3rd party integrations at different levels.
They can be problematic and you really only should consider them if they are the most appropriate or perhaps, only solution to your problem.

If I were you I would ask a more fundamental question. Are you on the right product at all.

If you feel QB is not meeting your current Stock Control requirements, maybe you should consider a new system overall. One that has integrated stock control, SOP etc.

I am not suggesting any particular product, but I think it might be a simpler and better solution to your problem.

Paul Kelly
www.kellysolutions.co.uk

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