At a Glance: Comparing Fishbowl and Reckon Accounts Enterprise Edition (Part 3: Plugins and Modules)

In this third and final part of the comparison between Fishbowl and Reckon Accounts Enterprise, we’re going to address Fishbowl’s numerous modules and plugins, both off the shelf and custom solutions.

Actually, these are all unique to Fishbowl and a big reason why Fishbowl is the business automation solution for Reckon Accounts and Xero. They are not also present in Reckon Accounts, so we’ll simply address them in Fishbowl and avoid constantly repeating the fact that they are unavailable in Reckon Accounts Enterprise.

inventory management add for reckon accounts comparison

Integrated Fishbowl Products

In addition to Fishbowl Manufacturing and Fishbowl Warehouse, Fishbowl offers many other solutions that integrate with its core software products. These solutions offer many useful features that can help growing businesses as their requirements increase and change over time. Fishbowl’s solutions include:

Fishbowl Anywhere: A plugin that allows Fishbowl Manufacturing and Fishbowl Warehouse to be accessed via a Web browser.

Fishbowl Go: An app that allows for barcode scanning to take care of the physical aspects of warehouse management, such as cycle counting, receiving, picking, packing, and shipping.

Fishbowl Commerce: An online hub that synchronizes inventory quantities and sales across a great number of e-commerce channels so you don’t have to manually update each one.

Fishbowl Time & Labor: An online employee time clock solution that helps with Timehseets, PTO, manufacturing labor costs, and more.

Fishbowl Checkout: A point of sale solution that allows credit card, cash, and other payments to be processed and added directly into Fishbowl Manufacturing and Fishbowl Warehouse.

Fishbowl Modules

These are all add-on modules that can be installed and activated from the Plugin module in Fishbowl:

Forecast Module: Data on past sales and orders is used to project upcoming inventory quantities, costs, and sales.

Sales Data Module: Sales revenue and counts are displayed on a world map, which users can zoom in and out of.

Data Module: You can use this to view, gather, and export data from the Fishbowl database, but you can’t update data in this module.

Monitor Module: The quantities of several parts can be viewed at the same time and constantly checked to make sure they remain healthy.

Consignment Module: You have the ability to track inventory that is consigned to third-party sellers and sold by them.

Software Plugins

These are just a few of the business solutions that Fishbowl offers plugins for. With all of these integrations, Fishbowl becomes a business automation platform, facilitating the free flow of information on inventory quantities, orders, and more between numerous online and desktop platforms. Here they are:

  • 3dcart
  • Amazon
  • Avalara
  • BigCommerce
  • eBay
  • Dropbox
  • LemonStand
  • Magento
  • Salesforce
  • ShipStation
  • Shopify
  • SolidWorks
  • Volusion
  • WooCommerce
  • X-Cart
  • Zen Cart

Beyond Compare

As you can see from these three blog posts, Fishbowl holds its own and even over-performs when compared to the inventory management features of Reckon Accounts or Xero. Fishbowl is the perfect business automation platform to work with Xero or Reckon Accounts, which makes sense because Fishbowl adds so much to the popular accounting software.

Users of Xero or Reckon Accounts users don’t have to learn an entirely new accounting system in order to gain access to the manufacturing and warehouse management features they need to do their jobs more effectively. Fishbowl can handle most small business requirements and allow them to stay with their preferred accounting application for many years. That kind of savings and efficiency is beyond compare!

Sign up for a free trial of Fishbowl today.

At a Glance: Comparing Fishbowl and Reckon Accounts Enterprise Edition (Part 2: Manufacturing)

Last week we looked at Fishbowl inventory and manufacturing software and Reckon Accounts accounting software and their inventory abilities. Let’s continue looking at these two by comparing them both by going through their manufacturing features. This will throw the contrast between the two solutions into even greater relief than before because Fishbowl really shines in this area and brings a lot of tools to the table that can really help out manufacturers.

We will cover nine features involving work orders, manufacture orders, bill of materials, and other manufacturing aspects of these two software solutions. All these features are found in the Fishbowl Manufacturing software, and also include all the features that are found in  the Fishbowl Warehouse version. To determine which version is suited to your business’ needs contact the Fishbowl office toll-free on 1300 785 755 in Australia or 0800 785 755 in New Zealand and speak with Kylie.

comparing Fishbowl and Reckon Accounts manufacturing features

Advanced Work Orders

Fishbowl: Work orders in Fishbowl Manufacturing can be used for assembly, disassembly, reverse, service, and repair work orders.

Reckon Accounts: There are no advanced work orders in Reckon Accounts for these types of jobs.

Custom Work Orders

Fishbowl: Create custom work orders from the Sales Order module in Fishbowl Manufacturing to quickly generate sales quotes and orders.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

Assigning Users to Work Orders

Fishbowl: Administrators can assign specific users to work orders to establish their responsibility for them.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

Production Stages

Fishbowl: Lot numbers can be tracked in great detail, drilling into subassemblies and production stages.

Reckon Accounts: Only single level assemblies can be created.

Manufacture Orders

Fishbowl: The Manufacture Order module makes it possible to set up sub-assemblies and production stages in a bill of materials and link them all together.

Reckon Accounts: You can just do simple assembly jobs, so you’ll need to create several of them to have the same effect.

Auto Manufacture Orders

Fishbowl: Automatically generate new manufacture orders with items found in the appropriate bill of materials.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

Auto Manufacture Order to Prevent Stockouts

Fishbowl: When finished products get too low in your inventory, they can trigger Fishbowl Manufacturing to automatically generate manufacture orders to make more.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

Custom Bill of Materials

Fishbowl: You can customise bills of materials by setting up option groups and variable quantities to save time and make price adjustments.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

One-Time-Use Items

Fishbowl: In a bill of materials, you can add one-time-use items which allows for more accurate costing with economy of scale production.

Reckon Accounts: This feature is unavailable in Reckon Accounts Enterprise.

Next: Modules and Plugins

Come back next week for Part 3 to see a comparison of Fishbowl’s modules and plugins to Reckon Accounts Enterprise.

This post was originally written by Robert Lockard at Fishbowl in the US and has been edited to suit Australian and New Zealand audiences.

Fishbowl integrates with Xero Accounts

Xero and Fishbowl inventory integration

Xero is a cloud-based accounting solution designed for small and midsize businesses. Fishbowl integrates seamlessly with Xero, giving you a complete manufacturing and warehouse management system that works in conjunction with your accounting solution to ensure you always have the correct invoices, ledger entries, and all other accounting documentation you need.

Fishbowl is the inventory solution for Xero

Here are the many details of this integration between Fishbowl and Xero:

  • You can configure Fishbowl’s integration to Xero fairly quickly, allowing you to update the general ledger whenever you make changes to your inventory records.
  • You can use Fishbowl to accept sales orders, pick, pack, and ship orders, transfer inventory, and more. Then it automatically exports those changes to Xero to create accounting adjustments in relation to inventory assets, cost of goods sold, and income.
  • Both Fishbowl and Xero can be used to accept payments from customers, and both will reflect those payments without you having to enter them twice.
  • Fishbowl lets you create purchase orders for whatever you need to buy, and then it sends bills to Xero to make the appropriate accounting entries.
  • New customers and suppliers get exported from Fishbowl to Xero so that they will have the same contact information and other details in both solutions.
  • All inventory adjustments (from cycle counts to scrapped inventory) are automatically transferred from Fishbowl to Xero.
  • After completing a work order in Fishbowl Manufacturing, you can schedule it to be exported to Xero in order to make an entry on the general ledger reflecting the change.

This post comes from Robert Lockard in the Fishbowl USA office.

Crystal ball not needed: Fishbowl Forecast Module

 Fishbowl forecast module

The Forecast module is a Fishbowl Plugin that becomes part of the Fishbowl user interface. This is a bit different than separate solutions provided by Fishbowl and other companies. There’s nothing you have to download or even install. All you simply have to do is get the right credentials and then activate the Forecast module through Fishbowl’s Plugin module.

Predicting the future is simple with the Fishbowl Forecast Module

The Forecast module uses sales numbers, patterns and other information across a certain time period to predict upcoming sales, quantities, and costs. It then presents all of this data through a number of filters and chart types.

Here are the features you’ll find in this module:

  • As noted above, you don’t have to download anything. You simply have to enter the proper information into the interface to activate the already-installed Forecast module.
  • Numerous filters are available to limit the data to specific sales, quantities, costs, parts, and location groups.
  • In addition, you can select the period of time you want to use as a reference to base the predicted sales information on. You can also select the future period of time you want to extend the forecasting into.
  • Forecasted data can be displayed in three main types of charts: line graph, accumulation, or scatter plot. You can select the one that will show the data in the most intuitive way for your needs.

This post comes from Robert Lockard, Fishbowl USA

How to: Measure Your Inventory Levels

Inventory performance metrics are essential to the running of your business. They help you measure how well you and your team are doing at managing your inventory. Here are three major points that you definitely need to know to equalise your inventory levels in the short and long term.

Inventory Turnover Ratio

The inventory turnover ratio tells you how well you are doing at selling your inventory and keeping it flowing at a healthy pace through your warehouse. Having a low inventory turnover ratio means you have high carrying costs and you may be overstocked on slow-moving items. Having an extremely high ratio may mean you’re not ordering enough and you’re struggling to keep enough on hand, potentially resulting in shortages.

To calculate your company’s annual inventory turnover ratio:

Divide the annual cost of goods sold by the average annual cost of inventory on hand.

Economic Order Quantity

The Economic Order Quantity (EOQ) is the number of items you should reorder each time you place a new order to maximize efficiency while keeping carrying costs and shipping costs to a minimum. Here is how to calculate the EOQ for each part and product in your inventory:

  1. Multiply annual fixed costs by the annual demand in units.
  2. Multiply that total by 2.
  3. Divide that total by the annual carrying cost per unit.
  4. Take the square root of that result.

Reorder Point

To calculate the reorder point for each product, you need to know four terms:

  • Lead Time: The number of days between a purchase order’s issue date to the product’s arrival at your warehouse.
  • Safety Stock: The number of days’ worth of a product you keep on hand to prevent emergency shortages.
  • Basic Stock: The number of days’ worth of a product you keep on hand as a part of your daily operations.
  • Unit Sales Per Day: The average quantity of a product that you sell on a daily basis.

Once you have those figures, plug them into this two-step equation to discover any product’s reorder point:

  1. Add the lead time, safety stock, and basic stock together.
  2. Multiply that total by the unit sales per day.

There you go. The inventory turnover ratio, EOQ, and reorder point will help you measure how well you’re doing at managing your inventory. These will generate concrete numbers you can track over time to see whether or not you’re progressing and how you can improve.

This post originally comes from Robert Lockard in the Fishbowl USA team