Bookkeeping and Accounting Services for MANUFACTURING

Manufacturing bookkeeping services. We account for a small size manufacturing business that implements costing accounting management. We work with business owners to improve WIP inventory workflow to ensure that labor and overhead costs are created in the Chart of Accounts and recorded in bookkeeping transactions. If you are a small manufacturer and you would like to spend less on your manufacturing software solutions, we offer the following functionalities using QuickBooks Online:

• BOM setup

• Tracking costs

• Tracking stages of WIP

• Transferring final value of WIP to a ready-for-sale product

• Producing relevant manufacturing reports

• Producing relevant financial reports

• Managing your business online (desktop version is optional to use)

The manufacturing sector varies depending on the raw materials used on the production line. For instance, baked products, medical devices, ready-to-wear clothes, and furniture are examples of similar cost-accounting approaches. QuickBooks Online does not have built-in functionalities to assemble inventory parts, and it is not recommended for mid-size businesses. However, when the bookkeeper has sufficient knowledge of QuickBooks Online, the most unique to the manufacturing industry transactions can be recorded and reported in QuickBooks Online subscription.

Can you use QuickBooks Online to manage your production?

Small Manufacturing Bookkeeping and Accounting Pricing

Based on our pricing list plus optionally 3rd party manufacturing management software subscription. Depending on the choice of the software, additional charges will apply for periodic data transfer into QuickBooks Online.

Reach us by email or phone to book an appointment. If you would like to discuss your business over the Internet we work with Zoom, Skype, or Teams.

QuickBooks Online includes features, such as labels, locations, and classes, that are not available in dedicated to manufacturing desk-top solutions. With the help of using labels, locations and classes, QuickBooks Online can work reasonably well for a small manufacturer. It is possible to bypass connecting third-party manufacturing apps and to track raw materials in the inventory, transfer the value of WIP to the finished product, and generate relevant reports in QuickBooks Online alone.

Labels, Locations, and Classes

These are the limitations of QuickBooks Online:

• a maximum of 40 combined classes and locations

• 250 accounts

Working around these software limitations is to use single-level BOM. It is possible to track manufacturing costs in addition to labor costs. Most inventory reports are custom-built, including the financial reports, such as the Balance Sheet and Income Statement, to show WIP and COGS accounts. Once a chart of accounts for cost accounts is set up and custom reports developed, QuickBooks Online is ready for generating daily transactions and periodic reporting.

Limitations and Customizations

As expected, ERP solutions come at a high price. However, there are dozens of manufacturing-dedicated software that offer powerful features for reasonable prices without an accounting module. In most cases, software either integrates with QuickBooks Online or offers data transfer tools.

Here is a list of manufacturing software worth considering when QuickBooks Online is not enough, and yet, moving to more expensive QuickBooks or Sage solutions is still not in the future:

Cin7Core, Craftybase, ERPAG, Fishbowl, inFlow Inventory, Megaventory, MRPeasy, SOS Inventory, Unleashed

QuickBooks Online + dedicated manufacturing software