Intuit updates QuickBooks with inventory management and more

QuickBooks Online, Intuit's service for small business accounting, is now set up to better help businesses focused on selling products.

Karen Peacock, the company's vice president of small business, said product-based businesses like retailers and e-commerce merchants make up nearly half of all small businesses worldwide, but that cloud-based accounting systems haven't served them well.

Intuit's online accounting software now supports different product categories, and tracks different products by SKU number. It can also track how much inventory a company has on hand, while creating an invoice so it can better know what to charge and when to reorder different products. In the future, Peacock said, Intuit plans to add automatic re-ordering of products and the ability to create bundle discounts. 

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