There are various facets of accounting that are common to all businesses around the world. Some of these aspects include the recording of transactions between buyer and seller, or producer and vendor. It also includes the recording of the revenue and profit that a business makes. However, if you own a manufacturing business, there are some things that are unique to the industry. The industry needs to cater for various raw materials, goods that are still in the process of being manufactured, and finished products. As such, manufacturing companies have to choose how they want to account for the costs and inventory in order to gain the most market share. This is why QuickBooks Enterprise is so useful for manufacturing firms. It boasts a wide variety of features and reports that are needed to elevate the business operations and performance of your company. Below are some of the features of QuickBooks Enterprise that provide a lot of utility.
Charting Accounts
The accounts that are used in the manufacturing industry is largely different from other businesses. The beauty of QuickBooks Enterprise is that it has a chart of accounts that is specific to your industry. In fact, when you make a new file in the platform, you can choose from a range of different industries that already have been predefined. You will then be able to choose from the chart the accounts that are relevant to your business. However, if you are worried that these accounts cannot be altered, fret not because you can fully customize the chart of accounts by adding or deleting the default accounts. You will also be able to access these accounts very easily on a one-stop platform.
Customized Prices
Business owners need to know that some customers are of more value to their businesses than others. This is why custom pricing is so important. When manufacturing businesses reward their highest value customers with discounts for bulk-buying, they can improve brand loyalty and grow their businesses even further.
QuickBooks Enterprise can cater to the different prices of the same product. Without such software, it can be extremely time-consuming and labor-intensive to offer discounts to customers. QuickBooks Enterprise for Manufacturers allows business owners to set different prices easily for different customers. This is a feature that is not offered by other versions such as QuickBooks Online. If you are still using the standard versions of QuickBooks and want to upgrade to QuickBooks Enterprise for Manufacturers, you will be able to enjoy the useful price level feature which will save time and money.
Different Customer Shipping Addresses
Maintaining customer relationships is one of the most important things for businesses because it helps to keep them loyal. It also allows for growth in the long run. QuickBooks Enterprise for Manufacturers can allow businesses to set up different shipping addresses per each customer so that customers can be served by different stores and outlets. All you need to do is to choose the right shipping address under the ‘ship to’ box. You can also add multiple addresses while doing this, if your customer has only recently decided to provide a new shipping address.
