Exploring the Benefits of Custom Charts In Quickbooks Online for Different Needs

 The options available in Custom charts let users choose the data to display and the preferred visualization format to use.

Tracking revenue by consultant

A corporation employing categories for monitoring the sales performance of its various consultants has the capability to generate visual representations such as charts to analyze the revenue produced by said consultants.

In order to produce such a chart, the user should opt for the specific chart template for "Revenue". Subsequently, within the screen for creating the chart, input the name of the chart and the preferred time frame. Within the dropdown menu for "Group by", designate "Classes", and include the names of consultants from the list of classes. This action will trigger the chart to be constructed using the current dataset.

 

Note that clients can also filter the data displayed and compare it to other time periods.

 

Tracking sales performance

Customers have the ability to construct visual representations to display the revenue outcomes of their various merchandise.

For instance, a manufacturer of jukeboxes examines the revenue outcomes of three different models in order to determine which ones to manufacture during specific periods throughout the year.

To generate such a visual representation, opt for the "Revenue" category from the available chart formats. Modify the identifiers and the timeframe accordingly. Subsequently, under the "Group by" menu, designate "Items" and input the names of the models under scrutiny.

Lastly, ensure to activate the "Previous year same period option" within the Comparative segment to establish a comparison that illustrates the sales figures in relation to the previous year.

               

Tracking labor costs

Finally, an examination will be conducted on how a project-based customer can utilize charts to evaluate the anticipated subcontractor expenditures and project completion date.

Upon the integration of project data into QuickBooks Online, the generation of projections and comparisons essential for the business becomes feasible.

In order to construct this graphical representation, the selection of 'Expenses' within the custom chart template options is imperative. Subsequently, the input of the chart's title and the designated time frame is required. Within the 'Group by' menu, 'Expenses' should be chosen, followed by the inclusion of '1099 Subcontractors'.

 

Finally, check the Previous year same period option in the Compare section.

 

Performance center charts for ProAdvisor's

The Performance center provides ProAdvisor's with an additional avenue to enhance the value they offer to their clients. Through gaining a thorough comprehension of the services available at the Performance center, ProAdvisor's can supply their clients with practical and beneficial information.

Using charts and data

Charts are often preferred by a considerable number of customers due to their simplicity and speed of comprehension over financial statements.

Charts have the ability to facilitate a rapid interpretation of the ongoing activities within their company, allowing for the identification of patterns that have an impact on the financial well-being of their enterprise.

Moreover, they assist in the monitoring of the key performance indicators that hold significant value to the clients, particularly when these charts are tailored to meet their specific requirements.

Understanding the underlying data and the optimal methods for customization are crucial aspects to consider, regardless of whether one opts for the utilization of pre-made charts for a speedy implementation or opts to construct bespoke charts to provide the necessary insights to the clients.

Trend charts

Trend charts illustrate fluctuations in data over a period. They serve as a valuable tool for organizations to promptly assess their progress towards meeting objectives. By default, these charts display monthly data for the ongoing calendar year, irrespective of the fiscal year-end date. The uncomplicated nature of trend charts facilitates a clear visualization of a company's operational cycles and the identification of potential avenues for investment and expansion. Additionally, trend charts have the capacity to signal instances where a company should consider cash preservation. Utilizing data derived from trend charts, one can establish objectives in collaboration with clients and monitor their advancement periodically.

Industry benchmarking

One especially important include of the Execution center is the capacity to compare your clients' execution against industry benchmarks for their division and locale.

The industry benchmark information within the Execution center is based on the middle values from at slightest 30 QuickBooks Online client companies within the same segment and geographic locale. The comparison companies will be within the same income run as your client's company. 

Industry comparison data can be displayed on two charts in the Performance center: NPM vs industry benchmarks and GPM vs industry benchmarks.

 

These are both available from the Quick add charts dropdown.

 

For your clients to benefit from this feature, you (or your clients) first need to configure the subscription to:

• Select the industry sector to compare to, and
• Confirm the location of the operation

 You'll be able get to the industry choice from Account and

Settings, or include or change it from the Settings symbol within the Execution center.

Note that you just can as it were do this in a QuickBooks Online company record. You can't alter a client's industry from QuickBooks Online Bookkeeper.