What is Velocity Inventory?
Velocity Inventory is a separately purchased software tool that lets you do the following:
Track QuickBooks inventory in more than one location or warehouse
Track serial and lot numbers associated with inventory
Use bar coding for picking, packing, and counting inventory
How can I buy Velocity Inventory?
Velocity Inventory tracks your QuickBooks inventory item quantities so all inventory tracking tasks, such as adding an inventory item to an invoice, are now done in Velocity Inventory. bar code, serial number, lot number, multiple warehouse, multiple location, . You don't have to worry about when to use QuickBooks and when to use Velocity Inventory because you'll receive a warning when you try to do something in QuickBooks that should now be done in Velocity Inventory.
How Velocity Inventory works with QuickBooks
Velocity Inventory changes the way you work in QuickBooks. bar code, serial number, lot number, multiple warehouse, multiple location, . While many of the tasks you normally do in QuickBooks are still done in QuickBooks, some tasks must now be done in Velocity Inventory.
Even though Velocity Inventory takes over inventory tracking, QuickBooks still needs information about inventory in order to accurately track accounting amounts, such as the value of your inventory and the cost of goods sold.
This does result in some duplication of information between Velocity Inventory and QuickBooks—but you don't have to enter the information more than once. bar code, serial number, lot number, multiple warehouse, multiple location, . Velocity Inventory periodically tells QuickBooks what changes have been made to your inventory quantities because of transactions such as inventory you buy from vendors and inventory you sell to customers.
Because Velocity Inventory tracks inventory quantities, QuickBooks always assumes that the inventory information in Velocity Inventory is correct. bar code, serial number, lot number, multiple warehouse, multiple location, . This is important to understand. bar code, serial number, lot number, multiple warehouse, multiple location, . If you make a change to an inventory quantity in QuickBooks instead of in Velocity Inventory, the next time Velocity Inventory communicates with QuickBooks to compare inventory information, the change you made in QuickBooks is lost and overwritten by the information from Velocity Inventory.
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