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QuickBooks simplifies accounting for retail businesses by tracking the quantity and value of inventory on hand. QuickBooks uses the average cost basis to compute the cost of goods. It also notifies a business owner of the percentage on inventory items. A business has access to run different reports to see customer balances, accounts receivable and profit & loss. This saves a business time compared to tracking inventory manually. Tracking inventory items manually requires a business to physically count the inventory on hand. The beginning and ending inventory must be counted as well as calculating the cost of the goods.