Whenever I hear “QuickBooks” and “manufacturing” in the same sentence, it gives me reason to pause.
It should do the same for you!
Unfortunately, much confusion exists about what QuickBooks can and can’t do when it comes to manufacturing businesses.
Many manufacturers purchase the Manufacturing and Wholesale Edition of QuickBooks and think it will take care of ALL their needs. Sadly, this edition of QuickBooks covers just a fraction of their actual needs.
THINGS TO KNOW ABOUT QUICKBOOKS FOR MANUFACTURERS…
- QUICKBOOKS PRO/PREMIER/ENTERPRISE (SILVER AND GOLD) ONLY SUPPORT AVERAGE COSTS
For many businesses, the use of average cost to value inventory and record cost of goods sold is perfectly acceptable.
For others, they have a need for FIFO, specific, landed, or other type of inventory costing system. In the event that average costing is not acceptable, but your business wants to use Quic