By Stephanie Elsen

Setting up and managing multiple inventory locations in your accounting software has some real advantages for you and your business. You may not be aware of how much time and efficiency are lost, trying to keep track of items in one system, when your items are located in various places.

Better Customer Service

Being able to see where your in-stock items are located can help give customers a better idea of what is available to them. It also helps you get those items to your customers more quickly, all of which results in happier customers.

Streamlined Processes

When your items are tracked by location, it becomes easier to keep track of actual inventory quantities. This helps for your physical inventory counting process, as well as the process of determining what needs to be ordered.

Less Shrinkage

If you have inventory stored on a truck or other remote location, you can keep track of that specific inventory as its own location. Tracking that information tends to reduce the possibility of items disappearing without explanation!

Red Wing Software accounting software products are able to help you manage multiple locations. For more information, call Red Wing Software at 800-732-9464.

Accounting software is of course instrumental in helping manage your business finances. And in addition to that, accounting software includes a host of functions that help you organize information and manage processes within your business. The ability to manage inventory in multiple locations is one of those functions. Multiple inventory management can help you become more organized, streamline processes, and even keep your customers happy.

View stock quantities at multiple locations.

Do you have your inventory items in different locations? Maybe you have two different stores, multiple warehouses, or perhaps you keep some of your inventory on a truck. All of these are scenarios in which tracking inventory at multiple locations can be helpful. Above all, tracking inventory by location allows you to quickly see what you have, how many, and where it is. This saves the time of searching for your items, and it also keeps your customers happy by letting them know whether that item is available to them.

Customized pricing by inventory location

Tracking inventory by location lets you set pricing by location as well, especially helpful in the case that your stores have separate pricing schemes. Costing can also be tracked by location, which gives you a more accurate picture of true costs and profitability by location.

Keep track of quantities on order (purchase orders), assigned (sales orders), on hand and sold by inventory location.

When you organize your inventory items by location, your processes can become streamlined in several ways. You will be able to see, by location, which items are on order, which are assigned to sales orders, and which are available and sold. When you can view all of this information by location, it becomes much easier to stay organized, give customers accurate shipment information, and keep just the right quantity of inventory items in stock.

Tracking your inventory by location keeps you organized and because of that, you can also keep customers happy and add more profits to your bottom line.