How Inventory Management Software for QuickBooks Online Simplifies Landed Cost Tracking

If you’re using QuickBooks Online, you probably know how tricky it can be to capture the true cost of your inventory. Fees often slip through the cracks, and you’re left making pricing decisions based on incorrect data.

You can solve this issue with SOS Inventory, an inventory management software designed for QuickBooks Online. With the right tools, you can automatically capture hidden costs and gain an accurate view of what each product truly costs. From there, you can price with confidence and become more profitable.

Let’s explore why tracking landed costs is so essential, the challenges QuickBooks users face, and how the right tools provide the data needed for better decisions.

Table of Contents

• Why do QuickBooks users struggle with landed cost tracking?
• What role does data play in tracking landed costs?
• How can businesses use data to make better decisions?
• How does inventory management software for QuickBooks Online help?
• Why QuickBooks Users Choose SOS Inventory for Landed Cost Tracking
• Optimize Landing Costs with SOS Inventory
• Frequently Asked Questions

Why Do QuickBooks Users Struggle with Landed Cost Tracking?

Tracking landed costs in QuickBooks Online isn’t as simple as it should be. One major hurdle is manual entry. Entering and handling fees by hand opens the door to errors and inconsistencies. Even small mistakes can throw off your product costing and pricing decisions.

QuickBooks Online also doesn’t make it easy to allocate additional costs across multiple SKUs. If a shipment contains several products, spreading fees accurately can be a headache. Without this allocation, some items may appear cheaper or more expensive than they actually are.

Visibility is another challenge. QuickBooks Online offers limited insight into the whole supply chain picture, making it hard to see all the costs tied to inventory. Reconciling across multiple shipments or vendors becomes time-consuming and prone to mistakes, leaving you with gaps in your data.

In short, without the right software, tracking landed costs in QuickBooks Online can put your margins at risk.

I have only been using this app for a week, but I am amazed at how intuitive it is. This is a game-changer for anyone wanting to have a powerful inventory management tool.

– Romain R. United States

What Role Does Data Play In Tracking Landed Costs?

Data is the backbone of accurate landed cost tracking. Without reliable data, fees can be misapplied or overlooked entirely. That’s why having a system that captures and organizes this information is crucial.

• Accurate allocation ensures every cost is applied to the right item. Instead of guessing which SKU should absorb which fees, automated cost allocation distributes expenses correctly.
• Real-time visibility powered by QuickBooks Online paired with an integrated inventory solution keeps your landed costs up to date. As shipments arrive and invoices are processed, your system reflects the latest numbers.
• Landed cost accounting consolidates what used to be a tangle of spreadsheets and vendor invoices. Multiple charges from different vendors are combined into a single view, so charges are faster and easier to reconcile.
• Reliable reporting gives you confidence in your accounting and compliance. You’ll know exactly what each product costs, and you’ll be able to make informed decisions.

How Can Businesses Use Data to Make Better Decisions?

Accurate landed cost data empowers smarter business decisions across the board.

• Set confident prices: With accurate landed cost data, you can price each product based on its actual cost.
• Protect your profitability: Spot the fees early and adjust pricing before they eat into your profits.
• Negotiate smarter with vendors: By reviewing historical landed cost data, you can secure better shipping rates, customs terms, or supplier contracts.
• Plan and forecast accurately: You can make better inventory, budget, and purchasing decisions because you know the real costs behind each product.
• Simplify compliance: You can provide transparent records of all landed cost components, making audits and regulatory reporting easier.
• Scale with confidence: As your SKUs, locations, or sales channels grow, you can expand your operations without losing control over costs.

How Inventory Management Software for QuickBooks Online Streamlines Landed Cost Tracking?

QuickBooks Online paired with inventory tracking software helps you take the guesswork out of tracking costs. Your data syncs directly with QuickBooks Online, keeping your financial records accurate and up to date.

You can also track landed costs across multiple locations and sales channels, giving you a complete view of your inventory expenses. With real-time reporting, you can make smarter pricing and purchasing decisions based on the most current cost information.

Why QuickBooks Users Choose SOS Inventory for Landed Cost Tracking

If you’re using QuickBooks Online, you already know how challenging it can be to capture the true cost of your inventory. Fees and adjustments often go unnoticed, which can lead to pricing decisions based on incomplete information.

SOS Inventory is designed to work alongside QuickBooks Online, helping you track every detail automatically. With the right tools, you can record hidden costs accurately, gain real-time visibility into your inventory, and make confident pricing decisions that protect your margins.

Here’s how the two systems compare: