This is a snapshot of a Quickbooks Enterprise Consulting project we are working on right now for a startup client. As we complete tasks during the engagement, we will update this post.
Fashion Industry Client
We have started working with a startup in the fashion industry. Although we have consultants with fashion experience, it is Eagle’s first client in the fashion industry. The client was formed in Fall 2015 through a partnership between an established designer and a private equity firm. They expect to have their first line of products in stores in Fall 2016.
To support the startup, Eagle has completed an installation of QuickBooks Enterprise and one of Eagle’s consultants is acting as the interim Corporate Controller. As the client gets closer to launching the first line, Eagle will establish the processes for supporting the operational needs of the client. This includes every step of the supply chain from purchase orders to manufacturing to warehousing to fulfillment.
QuickBooks Enterprise 2014 Selection
Right now, the client could use QuickBooks Pro to complete the day-to-day accounting functions. However, in about 8 months, they will start receiving inventory at multiple locations. Also, over the next several months they will be growing their staff and will need more than 5 concurrent users. QuickBooks Enterprise allows for more concurrent users than the QuickBooks Pro edition. QuickBooks Enterprise also contains advanced features for tracking inventory at multiple locations, which will be utilized when the client start placing purchase orders and receiving inventory.
QuickBooks Enterprise also has an Advanced Inventory module that contains features for tracking inventory at multiple locations. This will be utilized when the client starts placing purchase orders and receiving inventory. In addition to having multiple warehouse locations, the Advanced Inventory module is great for tracking consignment inventory. The client expects to have consignment relationships with customers in the future.
QuickBooks Enterprise 2014 was selected because the client already has a license for QuickBooks with another company they own. The client is on Eagle’s schedule to be upgraded to QuickBooks Enterprise 2016 in the 2nd quarter of 2016 after the year-end close has been completed and reviewed by an external accountant.
QuickBooks Enterprise Setup
As mentioned above, the client already has QuickBooks Enterprise, so setting up a new company file was quick. Eagle worked with the client to determine the chart of accounts and list items. Eagle setup a new company file in QuickBooks Enterprise with the chart of account and list items. Since an Eagle consultant is the interim corporate controller there has been no training yet, but as processing are setup, they are documented. Eagle will use the documentation and established training procedures to train as the client adds personnel.
Go to the QuickBooks Consulting page for more information on Eagle’s QuickBooks experience. You can also open a chat using the link in the bottom right corner of your browser if you have any questions. We offer free consultations, so why wait? Get started with QuickBooks now!