Features to Streamline Lot Tracking with QuickBooks Online Inventory Management Software

Are you using QuickBooks Online and trying to figure out if you can achieve lot traceability?  

Are you worried about being able to take the right actions in the event of a recall?

If so, you are not alone. Many businesses struggle with this very same issue and often don’t realize they have incomplete data until they face a recall.  Missing or incorrect data can create compliance risks, require manual review of individual transactions, trigger inventory errors, and lead to costly delays and potential fines. The failure to plan for and achieve total lot traceability can lead to big problems. Determining the features you need in a solution is the first step to finding a solution.

QuickBooks Online Inventory Management Software from SOS Inventory is a leading solution for efficient and accurate lot tracking. It has all the tools you need to eliminate errors, maintain compliance, and keep your operations running smoothly.

Let’s explore how the right features can solve the challenges of accurate inventory tracking and lot traceability and set your business up for growth.

Table of Contents

• How can the right features help streamline operations?
• What are the top 5 features to look for?
  • Real-time visibility across all inventory
  • Automated lot number assignment and tracking
  • Seamless QuickBooks Online integration
  • Customizable reporting and audit trails
  • Multi-location and multi-channel support
• Streamline Operations with SOS Inventory
• Frequently Asked Questions

How Can the Right Features Help Streamline Operations?

Having an advanced inventory management application that integrates with QuickBooks Online can deliver benefits that ripple across your business. The positive effects of an effective system include:

• Increased accuracy – Real-time inventory tracking from induction, through production and movement, to customer delivery ensures every item and every lot is accounted for, no matter how complex your inventory is.
• Regulatory compliance – Stay audit-ready and avoid fines with accurate and easily retrievable lot data.
• Operational efficiency – Faster, smoother, and data-driven processes translate into right decisions; while automation and integration minimize data entry time and gives your team more time to focus on higher-value work.
• Customer trust – Provides visibility to ensure delivery of the right product on time and every time and responds quickly with pinpoint accuracy should a recall ever occur.
• Scalability – The system grows with you, so you won’t have to switch platforms as your business expands.

What Are the Top 5 Features to Look For?

When choosing a new QuickBooks Online inventory management software, look for features that give you complete control, eliminate guesswork, and keep your operations running with less manual input.

1. Real-Time Visibility Across All Inventory Stages

Real-time calculations of transactional data ensure every vendor purchase, production, movement and customer release are instantly reflected across all locations, preventing overselling, stockouts, and shipping errors. With an accurate, up-to-the-minute view of your inventory, you can make confident decisions that keep orders moving and customers happy.

2. Automation of Lot Assignment and Creation of Transactions

Automation assigns each item quantity a unique lot number upon introduction into inventory, keeping that identifier consistent throughout its entire lifecycle. This prevents mislabeling, ensures traceability, and eliminates duplicate work. Automation of transactions can create transactions for you, reducing your data entry time.

3. Seamless QuickBooks Online Integration

Automated data sharing with QuickBooks Online eliminates redundant data entry. With a single source of truth for both inventory and financial data, you can reduce errors, keep your books organized, and save hours of manual work.

4. Customizable Reporting and Audit Trails

With customizable reports and detailed audit trails, you can monitor stock movement, verify compliance, and prepare for inspections. You’ll have the actionable insights you need to meet regulatory requirements, avoid costly mistakes, and handle recalls with confidence.

5. Multi-Location and Multi-Channel Support

Multi-location and multi-channel support consolidates all your inventory data into one centralized system, so you always know exactly where each lot is stored. You’ll be able to move products efficiently through your supply chain, no matter where they are stored or delivered.