Why do you need it?

• Efficient inventory tracking helps you know your current quantities on hand, and the current value of your inventory. It updates your inventory if you use purchase orders to buy new inventory. You can easily track which items are on order and when they're due to be received. Running out of stock or having excess of inventory for a particular product are signs of lack of inventory tracking. Inventory tracking helps you keep costs in check, maintain a proper merchandise assortment, set targets and monitor profits efficiently.

Which accounting apps offer it?

• Very few of them offer a robust inventory management option. QuickBooks Online is the first option as it has an easy to understand inventory status dashboard. Xero comes next in order. It is expected to release a new update for its inventory management feature. Kashoo completely eschews this feature to maintain the simplicity of the product.