franchiseIQ is a great fit for many businesses.Â Find out if it's the right choice for you!Â Are you looking for a franchiseIQ demo, technical support, product or pricing information or to simply to compare franchiseIQ with competitive options? Quickly get answers and the information you need.
Unlike most other Cloud Accounting systems, franchiseIQ provides fully integrated Inventory Management in the EnterpriseIQ edition for managing your company’s products and services.
It allows you to categorise products into groups and sub-groups for analysis and reporting purposes.
Specify the areas (e.g. warehouses, stockrooms, bins, etc.) in which products are stored by setting up inventory locations and sub-locations. These locations/sub-locations could also be used for ‘put away’ and ‘picking’. Inventory levels and reserved quantities can then be tracked at these locations.
franchiseIQ provides comprehensive price list facilities which enable you to set up a range of prices per product (price categories) and a range of customer-specific pricing based on sales quantities and applicable price dates (price lists).
You can also update your prices of selected items using our powerful Bulk Price Update feature which is handy if you need to quickly implement price changes across selected lines.
Of course, you can also set prices when you are inputting a sales or purchase transaction.
If your company is purely service-based and does not track inventory levels, you can ignore it altogether and simply use the ‘batch invoice’ options in both Sales and Purchases to record transactions (these do no require any product details).
However, even if your company is service-based, the following are some of the reasons why you might want to use the inventory system:
When you sell something in the system by posting a Sales Product Invoice, it posts Cost of Sales and Inventory Control transactions with the sales transaction so that the GL is always up-to-date.
These postings are generated based on the calculated average cost of the items sold and posted to the GL along with the normal sales postings.
This means that you do not need to worry about period end inventory postings and your sales margin reporting figures are always up to date.
In summary, the following features are available:
"Inventory Management" is part of the franchiseIQ line of products, developed by FranchiseIQ.
franchiseIQ is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.