Originally Posted by bizznessman
Does the inventory module of QuickBooks require separate licensing or a subscription? I know their Payroll module does. Just curious as it may be a budget issue for some small operations. The reason I am asking is that we are considering using QuickBooks. So far we just use Quicken to track our cash flow.
No it is not a separate license, it is part of the program you can choose to use or not to use. You can set it up as item specific or as a general items.
It helps with estimating the purchase of items because it will list how many were sold / used. It is very similar to Quicken in operation. I always tell my clients the first time they use the program create a fake company and practice with it for a week or two until you are comfortable with the basic use. Then delete the fake company and create the real one.
It helps to track time, inventory, loss, costs, profit / loss, and cost of goods sold. It will also create balance sheets (assets vs liabilities) and it manages your checking account, credit cards, ect just like Quicken.
It's also great at tax time as it prints out income groups and expenditure groups.