Inventory Lab Review

Update 08/26/2013: My original review stays in tact, however Ryan from Inventory Lab left a comment rebutting my statements. He states that functions I am looking for are present, and a new version will be released soon. Check it out at the comments. 

I need a better bookkeeping program. I’m on the hunt, and up in the air about so many. I’ve used Outright for a year with my Etsy business. I like it. It tells me everything I need to know. When I opened a separate account for my Amazon, I was so sure I’d love it. Sadly, I decided that it wasn’t exactly what I wanted, so I’m still looking while maintaining the account. I want to know at any given time what my inventory retail value is versus my cost. I want to be able to do everything at once and not enter it into multiple spreadsheets on my end. I want to track my inventory, see what is in stock and print labels when I prep. I finally caved and have been trying Inventory Lab. It is a $40 a month program that boasts it will help Amazon sellers.

Thoughts so far: With a two week trial, I can say that I used about 12 days in trying to get into the spirit.

Day 1: Learning how to list products was quite a curve for me. No big deal, adapt and overcome. I did a few test items. I removed them, as I had already started shipments in Seller Central so I didn’t finish the process. I won’t have an accurate review for the listing process as of now.

Day 2: I want to know my inventory numbers. Hazzah! It actually had this! Is it accurate? NO. (Wah-wah-wahhhh) I tested a quick moving item to see if accurate and it was very off. Perhaps it updates daily? I’ll watch the inventory for the next week.

Day 3-10: It appears that Inventory Lab triggers reports to be pulled to update. This was a petty annoyance, and gmail filters allowed this fix. It started to become more accurate after a few days.

What features would I love already?
I’d love to add my own expenses like mileage, supplies, cost of goods (when I enter it in the “buy cost” section I can’t find that total value anywhere) .
I’d love more comprehensive monthly reports. Think Outright meets Inventory Lab.

I guess that’s the real problem, the features it offers is nice but I know all the items I need to “bookkeep” and IL is not cutting it. When I first started Outright, they were not quite up to par with my Etsy needs. Now they are my go-to solution for it. I’m confident with a few more updates IL will get there. I’m just not sure I want to stick around while IL goes through its growing pains. Is it worth my $40 to have a program that is NOT all inclusive? I’d definitely use it if it was $10 a month and pay the higher price when it had all of my bells and whistles. Because I’m hoping my inventory will triple to quadruple in the next few months I can’t say I want to sit around and wait. Bookkeeping will be a pain if I don’t keep this in one place come end of the year. What should I do? What are you doing for your bookkeeping needs?

One thought to “Inventory Lab Review”

  1. To the best of my knowledge Inventory lab is now able to support other expenses like mileage, supplies and cost of goods. My thing is changing the colors on the dashboard! I hate that profit is purple I want to make it green !

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