NEW in QuickBooks 2020 – Inventory cycle count

Included With: QuickBooks Desktop Enterprise 19.0 maintenance release R3 or newer Gold, Silver, or Platinum subscription for using Cycle Counts with Microsoft Excel.

Note: To use a mobile device with Cycle Counts requires Advanced Inventory (Platinum subscription).

Accessible: From the menu bar, select Inventory > Cycle Count.

Features: Depending on the amount of inventory a company has to manage, cycle counting in QuickBooks Enterprise adds additional inventory management efficiencies. Cycle counting is counting a small subset of the inventory products currently in stock, in contrast to a traditional physical inventory count where operations are halted to count all inventory items in stock. Cycle counts are less disruptive to daily operations, providing an ongoing measure of inventory accuracy and can be tailored to the specific high value inventory items.

Inventory Cycle Count work-flow summary with Advanced Inventory using a mobile scanning device:

• The Enterprise user creates a Cycle Count by selecting inventory items.
• The selected items are sent to connected mobile device(s) in the warehouse(s).
• The Warehouse User counts and scans (or manually adds) the quantity on the mobile device(s). The counted quantities are sent wirelessly back to the Enterprise file for each item.
• The Enterprise user selects which counted items to add to the automatically populated Inventory Adjustment transaction. Enterprise user approves the details and saves the record.
• The Enterprise user marks the Cycle Count as Closed.

Inventory Cycle Count work-flow summary without Advanced Inventory:

• The Enterprise user creates a Cycle Count by selecting inventory items.
• The selected items can be exported to a Microsoft Excel worksheet from the Cycle Count window.
• The selected item floor counts can be updated in the Microsoft Excel worksheet and imported into the Enterprise Cycle Count window.
• The Enterprise user selects which counted items to add to the automatically populated Inventory Adjustment transaction. Enterprise user approves the details and saves the record.
• The Enterprise user marks the Cycle Count as Closed.