Do you REALLY know how your business is doing? Do you REALLY understand what the numbers mean? If you are like most small business owners the answer is no.
Typically, most small business owners know how much is in the bank and how much their sales are, but how much you sell in many cases is not nearly as important as how much you keep!
So let’s assume you really do not enjoy looking at the numbers. Most business owners do not. Luckily, QuickBooks has the perfect solution for you.
Included with every QuickBooks program is the best kept secret that almost no one uses. Graphs! As the saying goes, a picture is worth a thousand words and EVERYONE grasps pictures better than numbers in a LOT shorter time!
Did you know that you can quickly and easily get graphs for the following:
- Income and Expenses – shows comparison by period, and a breakdown by category
- Net Worth – shows historical changes in what you own, what you owe, and your equity in the business
- Accounts Receivable – shows who owes you, how old the invoice is, and unpaid invoices by customer
- Sales – reflects company sales by month, by item, customer or sales rep
- Accounts Payable – shows how much you owe vendors, how old are the bills, and unpaid bills by vendor
- Budge v. Actual – lets you see the difference between your budgeted amounts and the actual amounts earned or spent
The best part of any of these features, is that you can drill down and find out more information about what you are looking at.
Let’s say you are reviewing your bills to be paid and notice that a particular vendor has been paid a lot more than you would have anticipated. You can double click to get all of the vendor payments in a report than you can customize any way you want.
Another example would be tracking sales by your sales rep. You can drill down and get a report that tells you what they sold, who they sold to, and when it happened.
Here is the beauty of this for a small business owner. It takes only minutes to spot problems and you can have your accountant or bookkeeper track down the details and come back to you with a report.
Another major benefit is using these reports to make better business decisions because FINALLY you understand your numbers!