There are a lot of moving parts when it comes to running an online store. One of the biggest challenges many eCommerce sellers face is inventory management. This task can be particularly cumbersome when dealing with numerous product lines and multiple sales channels.
Accurate accounting is crucial for your business, and monitoring your inventory is a big part of your accounting process. It enables you to maintain your pre-arrival review system and ensures you have enough inventory to meet demand. It also helps you see how well products sell and allows you to monitor cash flows. Modern technology makes inventory management a lot easier with programs like SOS Inventory. Now, this software can automate the arduous task of inventory management, helping to save you time and money. Here is our SOS Inventory review.
SOS Inventory review: the basics
Inventory management is an integral part of running an online store. You need to know how much inventory you have in stock at all times to meet demand and avoid having stagnant products sitting on a shelf. Failure to properly track either can result in missed sales and opportunities. This can also leave capital tied up in stale inventory. Software designers designed SOS Inventory to help online sellers track and manage their inventory in real-time. It is a cloud-based inventory, manufacturing, and order management system that integrates with accounting programs like Quickbooks.
What is SOS Inventory?
SOS Inventory enables users to monitor cash flow, inventory, manufacturing, and operations with a single program. Designed for small to medium-sized businesses, it allows business owners to track their inventory and daily operations efficiently. It effortlessly syncs financial information with a Quickbooks account too. This helps save time and eliminates the double-entry so you can stay organized. It also integrates with well-known sales channels and shipping partners like Shopify, Paypal, and UPS.
Do reputable companies back SOS Inventory?
SOS Inventory has been around since 2009. Saddle Oak Software Company developed the software after experiencing their own issues with managing inventory. Their company used Quickbooks and found several limitations to their inventory management. Saddle Oak seized this opportunity to develop SOS Inventory. And because the program was designed with business owners in mind, it’s relatively easy to use, no matter your skillset. Since 2009, they have continued to innovate and improve their product and now have thousands of users in more than 50 countries worldwide.
SOS Inventory review: best features
SOS Inventory is an excellent option for small to medium-sized businesses. It is affordable and easily integrates with Quickbooks Pro. Here are some of the best features of SOS Inventory.
SOS Inventory allows you to manage your orders from start to finish. You can create orders, partial or full invoices, and manage shipments. SOS Inventory automatically syncs with Quickbooks Pro for accurate and up-to-date information. It also integrates with shipping providers like UPS to make automated shipping a breeze.
As an online seller, you may need to sell on several different channels. While this can offer you more exposure, it can also make inventory tracking even more of a challenge. SOS Inventory can help you keep track of all of your inventory, even in multiple locations. By eliminating the need to track inventory separately, you’ll able to manage every product all at once. You can even transfer items between locations, giving you more control than ever before.
You can track important information about your merchandise like cost history, profit, and loss. This information is crucial when planning for expansion. It helps you see which products perform the best as well as which may need to be eliminated for poor performance. You can also see which sales channels deliver the greatest results, which allows you to create a realistic budget for your expansion.
Bulk merchandise management
SOS Inventory offers bulk data management, which can save you a ton of time. Bulk actions include adding, editing, deleting products, managing customers, and more. Instead of wasting time by manually editing each entry, you can make quick changes with the click of a button. This is especially important for businesses looking to grow quickly.
SOS Inventory: pros and cons
When selecting an inventory management program, it is important to consider the demands of your business and what you may need. What works for one business may not work for another. Here are some of the pros and cons of SOS Inventory to help you determine if it’s the right fit for your business.
- Easy to use – many users report that it is easy to use, even for those who are not so tech-savvy.
- Customizable – this allows you to run your business however you need to.
- Quickbooks integration – data automatically syncs with Quickbooks, allowing for accurate, up-to-date information and saves time.
- Slow to implement – due to the customization, setup can take some time.
- Glitches – some customers reported some glitches. However, they still loved the product.
If you want an inventory management program, SOS Inventory is a great option. It’s easy to use, and the integration with Quickbooks can save you a lot of time. Remember, having accurate information for your accounting is crucial to the success of your business. It’s important for planning, forecasting, and tax purposes.
Get help with your accounting
Accurate accounting and bookkeeping are a must for any growing business. There are a lot of moving parts that require tracking. From tracking income to monitoring business expenses, accurate accounting is instrumental for tax purposes and growing your business.
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