Informed decision making and planning for the future

By Jake Martin

3 min read

When it comes to planning your business’ future, there are daily decisions you need to make. Should you buy more inventory to account for a predicted seasonal sales spike? Can you afford an extra employee?  At QuickBooks, we’re committed to ensuring you have the right tools to make the right choices for your business, at the right time. This month, we want to show you some of the features you can use to ensure you gain future  insights that influence today’s business decision.

With QuickBooks, creating and developing reports is simple. You can get instant access to the financial information that could make all the difference to your business.

Make the most of one-click reporting – we’ve built sales reports that clearly show you where your sources of income are.

You can also split your reports in various ways; for example, you can see who are your most profitable customers, which one of your products or services are performing well, or even which location is losing money. You’ll then be able to make pragmatic decisions on where you should concentrate most of your efforts, therefore increasing the likelihood of a return on investment.  Purchase reports, on the other hand, give you the same level of detail, but provide detail on where you’re spending, allowing you to rein in any expenses that are not yielding profits.

 

Reports

 

What do I do now? Go to Reports to get started.

There’s no need to be overwhelmed with the level of detail in our reports. QuickBooks have designed them to be as comprehensive or as simple as you need them to be. Get started here.

With QuickBooks, insights are done. Automated reports are created for you to email your stakeholders, saving you time to make those decisions that lead to growth.

 

Budget Variance

Stay on track with this year’s budget with this tool that alerts you if you’re over or under on spend. In QuickBooks, this is customisable, allowing you to set your income and expense accounts. You can also run reports, such as proposed budget vs actual budget, and get a clear, real-time view on how your business is performing.

Budget Varience

What do I do now? Go to Reports>Go to report search>Budget vs. Actuals

Budget variance is only available in QuickBooks Plus.

“QuickBooks definitely makes life a lot easier.

The main benefit for me is raising purchase orders as it’s so easy to look them up in QuickBooks.” Katherine Hooker, Owner of Katherine Hooker ltd

Two money managing add-ons that integrate with QuickBooks:

Float

A cash flow forecasting app, Float can be used by anyone, from finance departments to advisors, seamlessly connecting with QuickBooks.

Predict your bank balance a month in advance – Float anticipates the due dates of your bills and invoices in QuickBooks, showing the impact on cash flow in any given month. By integrating Float, you can anticipate what impact a sudden spike in sales might have on your business well in advance.

Float

Once you’ve integrated Float with QuickBooks, the devil really is in the detail as you can thoroughly understand how to plan for the future.

“With QuickBooks and Float there’s no need to use Excel. It’s a seamless experience, data just flows in and it does all of the things you want it to do.” – Chris Martin, Director at Beyond Profit 

Learn more about Float

CrunchBoards

Crunchboards gives you the ability to make critical business decisions with its cashflow forecasting.

Looking at the forecast in CrunchBoards gives you an accurate reading on how you’re performing against targets.

CrunchBoards can create project management “boards”that can help you share KPIs with key stakeholders, to make better decisions that help with the future planning of your organisation.

Find out more about CrunchBoards

 

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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