Square Inventory Management for multichannel sellers

Square Inventory Management Software For Your Growing Business

Leverage Finale Inventory to prevent overselling on your online selling multiple channels.

Prevent Overselling with Square Inventory Management

If you have a booth at a trade show or a physical storefront, Square makes it easy to take payment anywhere your customers are. To maximize sales, savvy store owners know the importance of selling both offline and online as more selling channels generally result in higher sales, but selling on multiple channels requires a Square inventory management solution to seamlessly manage inventory.

Having a firm grasp of inventory become more challenging with each additional selling channel. When Square and Finale are used together, Finale makes it simple to track inventory across your online and offline sales channels in one central location.

Customers who use both Finale and Square will automatically sync inventory across different selling channels to prevent overselling on their ecommerce channels.

With multi warehouse (location) support, Finale allows for inventory to be tracked as shared inventory or separate inventory for your online and offline channels.

Separate Inventory Tracking for Offline and Online Sales

square inventory management

In this configuration, the cloud inventory management system will track the stock of each channel separately and will update the selling channels every five minutes. Additionally, Finale is able to sync orders multiple Square readers and decrement the stock from the correct sublocation (e.g. Store A’s Square reader decrement from Store A, Store B’s Square reader decrement from Store B, etc.)

Shared Inventory Tracking for Offline and Online Sales

square inventory

In this configuration, Finale will track the shared inventory and will update the selling channels (e.g. Shopify and BigCommerce) within five minutes of a stock change.

For example, let’s say you have five pairs jeans for sale. If you sell a pair in your physical storefront, Square will send the sale down to Finale, which in turn will update your selling channels that four pairs of jeans are now available.

Other Benefits Using Finale Inventory

There are many benefits to using the software as your Square Inventory Management solution.

Simple Integration. Integration with Finale Inventory literally takes seconds to set-up. All is needed is your Square login credentials. There are few changes required to your current Square configuration to immediately start syncing orders to Finale Inventory and effectively managing your inventory.

Supports Multiple Square Readers. If you multiple Square readers, Finale can be configured to decrement stock in different sublocations based on which Square reader processed the transactions. As a result, Square #1 transactions will decrement stock from Store #1, Square #2 transactions will decrement stock from Store #2, etc.

Restock Forecasting.  Running a growing business is hard.  There’s a lot you have to keep up with.  Leveraging the sales velocity of a product, Finale will automatically calculate dynamic reorder points based on your inputs – supplier lead time, desired safety stock, and expected sales growth — to make smarter, faster purchasing decisions.

Restock forecasting from Finale gives you one less thing to worry about. When your inventory gets low, we’ll send you an alert letting you know it’s time to send out a purchase order. You can email the purchase order directly from Finale, and when you receive your shipment with Finale, Finale will update all your channels with the will be updated stock quantities.

QuickBook Integration. Configure your Finale Inventory to sync your Square and other marketplace sales to your QuickBooks account to avoid manual double entry of data.

Multiple Marketplace Support. Effectively manage your inventory from multiple marketplaces (e.g. Etsy, eBay, Amazon, and Magento) via ShipStation. Easily consolidate your multi-channel sales to quickly see your inventory in one central location. Click here to a get complete of list integrations.

Product Kitting. Present more selling options to your prospective customers by setting up kits or bundles from your existing products. As kits are sold, Finale will adjust the stock quantities of the child components that comprise the kit.

Support allowing multiple SKUs for a unique Product ID. When you are selling products in different marketplaces (e.g. Amazon and eBay), you may be forced to have different SKUs for the same product. Many customers manage this unnecessary complexity with Excel worksheets. The Square  inventory management solution handles this with a couple mouse clicks and properly keeps tracks on your inventory.

Support High Transaction Volumes. Conduct a large number of transactions? No problem. Finale  can support up to 50K transactions per month, and we are always scaling our architecture to support even higher volumes. High transaction customers can leverage our barcode inventory management solution to decrease warehouse operations times from receiving and picking while improving accuracy.

Multiple Shipping Location Support. Easily manage your inventory across multiple shipping warehouses from Finale Inventory.

Avoid Stock Outs. With the advanced order management capability, keep your business humming along by creating product count thresholds to know what needs to be reordered to prevent costly stock-outs.

 

Video Transcription

Hello. This is Mike, Finale Inventory. In this video, we’re going to give a demonstration of an exciting new integration with Square POS. So, for those of you out there that run kind of either events or you run a brick and mortar store and have a POS system, you wanna tie those sales into your Finale Inventory so that we can track the amount of inventory you’re going through or using up. We now have a solution for Square inventory management. So, let’s take a look at our Finale account here, this demo account we’ve got set up. We’ve got maybe six items in here. We’ve got some red t-shirts, some white t-shirts, and blue t-shirts. And if you notice that we’ve got 45 on hand, 65 on hand of the whites, and 39 of the blue. So, now, let’s go take a look and maybe ringing up a sale on the Square POS. So I’m gonna pop over to my iPad here and I’m gonna go ahead and execute the Square register here. So I’m gonna pull up the Square register, and notice that I’ve got a red t-shirt, and a white t-shirt, and blue t-shirt. It’s corresponding to these items in Finale.

So let’s go ahead and ring up five red t-shirts, and I’m going to pick the red t-shirt. I can say, “Hey, I’m gonna get five of those.” And save that. And then, let’s do on the white t-shirts let’s bring up five as well. So I’m gonna pick the white t-shirt and add five to this order, and on the blue one let’s add maybe nine of those. So I’m gonna go ahead and add nine of the blue t-shirts into the system, or actually into the order. So you see we have a $285 order here in the Square POS on the iPad. So I’m gonna go ahead and charge that off and we’re gonna take some cash for this order. So I’m just gonna say they gave us exact change and ring up that sale. And we have just now completed a sale on the iPad using Square POS. So now, let’s see, how do we get that sale recognized into Finale?

So, over here in Finale, I would simply have a connection set up with Square POS to start the Square inventory management solution. And in this demonstration account, it’s all the way down here at the bottom. So I have Mike’s Square POS here. This is set on automatic, so it runs automatically every five minutes and pulls those sales from Square POS. So right now for us to get this sale in here, I’m just gonna go ahead and say, “Hey, run this test now,” so that it will go out there and grab the sale that I just rang up on my iPad. So it’s pulling that into Finale at the time, so I’m gonna go ahead and find it and show you that we’ll be able to see it here on our sales page.

So, here on the sale, since we’re kind of pulling that into the system in the background, I’m just gonna go ahead and refresh my screen here so that we’ll see that sale. So, as I wait for the browser reload and pull in the latest information, you will see that this is not it, but I’m gonna go ahead and because I have my settings set to go ahead and complete the sale. So we should be able to see it come into the system here. And there it is right there at the top of the screen. So I have a completed sale here from Square POS, shipped today for $285. So if I click on this sale, you will see that, hey, there’s our blue t-shirts, and red, and white t-shirts. We got nine of the blue, five of the red, and five of the white for $285. So let’s go check out our stock levels. So if I go and investigate my stock levels, I’m gonna pull up my Square POS products here, are now down to 40, 60, and 30. That’s it. So you can see how easy it is to address the square inventory management within Finale Inventory.