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New Square for Retail Feature: Automatically Track All Inventory Quantities
New Square for Retail Feature: Automatically Track All Inventory Quantities

Hi Sellers,

 

We’ve simplified creating items to help you get to selling faster.  Now, sellers using Retail POS free or those subscribed to Retail Plus can track inventory deductions automatically. This has been a long time request from our retailers.

 

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In the past, Sellers needed to toggle “ON” tracking for each item, by receiving a quantity, or toggling “ON” one-by-one as they added a quantity. 

 

For existing Sellers, you’ll need to turn this “ON” for future and past items.  Go to the Inventory tab in your online Square Dashboard where you’ll see the option to: 

  1. Turn inventory tracking “ON” for all future new items
  2. Backfill tracking “ON” for existing items.  For items without a quantity, it will default to zero. 

 

If you’ve never received stock quantity for that variation, the quantity defaults to zero.  If you sell an item without entering a quantity, but you’ve entered in cost, the default unit cost is assigned to the sale automatically in the Inventory History and COGS report.  This allows you to sell into the negative, which will be resolved when you receive a quantity later.  If you haven’t entered a cost, you will still need to resolve the missing cost in your Inventory History tab of your online Square Dashboard.

 

Automatically tracking inventory allows you to get items out on the shelves faster, make quantity adjustments when you have time for bookkeeping, and accurately account for all sales.

 

For more detailed instructions, visit our help article: Manage Inventory with the Retail POS App. 

 

We will be working on more improvements for this feature soon.  Let us know if this helps you save time in the comments!