What is Stockpit, and why do you need it?
Stockpit is specifically designed to add advanced inventory management features to your QuickBooks Online account. As you sell or buy your products by creating estimates, invoices or vendor bills in QuickBooks Online, Stockpit will automatically update your inventory.
Stockpit includes the following main features:
- Managing and tracking your inventory across multiple stock locations (Warehouse, Office, Truck,...)
- Tracking On-hand and Available inventory by reserving products and creating Shipping Orders
- Creating product assemblies to manage the inventory of components and finished products
- Purchasing from your suppliers from Re-order points and from your Sales orders (Backorders)
- Tracking Lot and Serial numbers for traceability (Coming soon...)
How does Stockpit work?
As you create your invoices in QuickBooks Online, an "Order" will be created in real time in Stockpit and this order will automatically decrease your inventory in Stockpit.
For precise inventory management, Stockpit provides you with real-time visibility into both your on-hand and available stock levels. Available inventory refers to the products stored in your stock locations, minus the products sold that are not yet delivered (or shipped) to your customers (reserved quantities).
By default, the order created in Stockpit by the invoice will decrease both, the on-hand and available inventory. You can choose to only update the available inventory from the order; the on-hand inventory will be updated by creating a shipping order. Your products inventory will be reserved until the creation of the shipping order.
Example: You currently have 30 Products ABC in stock. You sell 10 products ABC to a customer today, and you create an invoice in QuickBooks for these 10 products. The available inventory in Stockpit is updated, you now have 20 available, 10 reserved and still 30 on-hand as these products are still in your stock location. Then, in a week from today, you ship or deliver these products, and you create a shipping order. The on-hand inventory in Stockpit is updated, you now have 20 available and 20 on-hand as these products are not in your stock location anymore. No more reserved inventory.
You can also choose to create an order from estimates, adding a valuable step in your sales workflow. The estimate can decrease your available inventory and reserve the corresponding products. Your on-hand inventory will decrease when you create the shipping order. This can be a great workaround to use estimates as sales orders, as your inventory will be updated in Stockpit prior to creating the invoice.
Please note that estimates and invoices can only be created in QuickBooks Online.
The inventory update from an order (available and on-hand or just available) depends on the QuickBooks Integration settings. Please visit the Integration Settings page.
You can find more information about orders and sales in our Sales pages in our Help Center.
You can find more information about the stock level on this page: Stock levels
If you choose to manage your inventory purchases in QuickBooks Online, and as you create a vendor bill in QuickBooks, a "Purchase" will be created in real time in Stockpit and this purchase will automatically increase your inventory in Stockpit. Both, available and on-hand inventory will be updated when creating the bill in QuickBooks.
You can also choose to manage your inventory purchases in Stockpit. Purchasing from your suppliers in Stockpit has a few benefits: Automatically create purchases from re-order points and from your orders (Backorders) and visibility of your incoming stock.
When you receive products (Purchase receipts), you will have the option to create a vendor bill in QuickBooks.
You can find more information about creating purchases in our Purchase pages in our Help Center.
Products can only be created in QuickBooks Online. You can import them when you set up your account, and then they will sync automatically from QuickBooks to Stockpit.
Stockpit will import the following fields from QuickBooks: Name, SKU, Description, Product type (Inventory, Non inventory, Bundle), purchase price (Cost) and Inventory (if applicable).
When you import a product from QuickBooks to Stockpit, your inventory from QuickBooks will be imported as well. After the import, the inventory in Stockpit will be updated based on sales and purchases done in QuickBooks or from stock adjustments and purchase done in Stockpit.
If you update your inventory in QuickBooks via an inventory adjustment, your inventory will be updated in Stockpit in the default location (as selected in the settings). Also, if needed, you can trigger a resync from Stockpit to QuickBooks or from QuickBooks to Stockpit.
Suppliers can be imported automatically from QuickBooks, they can't be created in Stockpit.
Stockpit will import the following fields from QuickBooks: Name, email address, phone, and address.
If you use locations in QuickBooks, Stockpit will use these locations to update your inventory in the corresponding location.
Please note that there is no cost sync between QuickBooks and Stockpit. Stockpit will only import the cost of your products from QuickBooks at the time of the import. During the creation of the product from QuickBooks to Stockpit, the cost will be used as the purchase price and initial cost in Stockpit
All updates that sync between the 2 systems are done in real-time (max 5 minutes).
QuickBooks Bundles (Kits)
If you create a bundle in QuickBooks, it will create a kit in Erplain. Bundle and Kits are similar.
You can create products in QuickBooks Online and convert them to an assembly in Stockpit. Assemblies are used to manage the inventory of components and finished products.
You can find more information about Kits and Assemblies on this page: Kits and Assemblies
Please visit the integration settings page from our Help Center to learn how to set up your account: Integration settings - Stockpit for QuickBooks Online
For more information about using Stockpit, please refer to our product guide: Help Center.
Compatibility with QuickBooks Online
Stockpit is compatible with QuickBooks Online Essentials, Plus and Advanced. Please note that there is no inventory sync with QuickBooks Online Essentials.