How to Create QuickBooks Online Charts Of Accounts

As previously stated, the Performance Center dashboard features a Quick add charts functionality which provides instant access to prebuilt charts. Various display options are available.



Revenue/Expenses

Revenue over time

The Revenue By Time chart presented below illustrates the aggregate sales accomplished by a corporation over a duration in comparison to the previous year. This particular measure holds significant value for enterprises of all kinds, as it has the potential to signal a necessity for augmenting sales efforts during sluggish intervals through intensified marketing initiatives, promotional offers, or price adjustments.

Upon being furnished with data from preceding periods, one can discern whether the patterns remain consistent or if the clientele of the entity experienced an upsurge or decline in sales for the corresponding period in the prior year. This analysis facilitates the initiation of a dialogue, if deemed necessary, regarding the distinguishing factors between the various fiscal periods.



 Expenses over time

The Revenue By Time chart, similar to its counterpart the Expenses By Time chart, discloses sales patterns within a business. This serves as a valuable method for recognizing seasonal fluctuations and the cyclicality inherent in business expenditures. By examining historical data, a company can determine optimal cash reserves for anticipated future requirements.

The data visualization presented below indicates a substantial surge in spending during December. Presumably, this surge reflects the company's year-end purchases aimed at minimizing tax liabilities.

 


Account receivable/ Accounts Payables

Accounts receivable

The depiction presented in the Accounts Receivable by Aging Periods chart illustrates the aggregate sum of funds that are owed to an organization by its clientele, categorized based on the duration of time outstanding. This visual representation is capable of shedding light on significant matters such as the total outstanding balances and the associated risk of potential non-recovery of receivables.

In the event that a particular clientele had established an objective to restrict outstanding receivables aged over six months to a threshold of 5% of the entire Accounts Receivable, any performance falling below this target would indicate suboptimal performance. This pertinent data could be communicated to the clientele in question, serving as a starting point for delving into underlying causes and devising effective remedies.

The chart can be further tailored to facilitate filtering based on factors such as geographical location, clientele, or projects, or alternatively, concentrated analysis on specific aging periods, as depicted in the accompanying illustration.



Accounts payable

This diagram illustrates the current amount that a company is indebted to its suppliers as of a particular date, along with the duration for which its payments are past due.

Through a comprehensive analysis of the Accounts Payable by Aging Periods chart alongside clients, one can provide guidance on optimizing cash flow through adherence to payment terms and leveraging discounts for early settlement.



Profit

Gross profit over time 

The evolution of gross profit over a period reflects the amount of gross profit that can be allocated towards the coverage of an organization's fixed expenses. Gross profit represents a basic calculation denoting the surplus of income over the expenses incurred from the sale of goods or services. (Revenue minus Cost of Goods Sold results in gross profit.)

In the following visual representation, fluctuations in the gross profit of this particular company are observed to have occurred frequently over the course of the year.



Net profit over time 

The graphical representation known as the Net Profit By Time chart illustrates the organization's net profit trends in relation to the preceding period. Net profit denotes the residual income subsequent to deducting total business expenses from overall revenue. Essentially, this figure encapsulates nearly all financial transactions within a business, with the exception of tax obligations which are computed post net profit determination.

Both the Gross Profit By Time and Net Profit By Time graphical depictions are valuable tools for elucidating to clients how strategic alterations influence their financial outcome.

In instances where a client encounters profitability challenges and undertakes remedial actions such as adjusting pricing strategies and reducing expenditures, these charts serve as mechanisms for monitoring the repercussions of such adjustments.

Cost of Goods Sold (COGS) 

COGS over time

The chart depicting the Cost of Goods Sold (COGS) Over Time illustrates the expenditures made by a company on products and services sold to its clientele. Similar to the Gross Profit By Time chart, this visual representation is expected to exhibit a corresponding pattern, reflecting costs directly associated with sales.

For individuals whose expenses on goods and services vary throughout the year, the COGS Over Time chart can provide valuable insights. It can indicate opportune moments for clients to reevaluate their pricing strategies in response to fluctuating operational expenses, as well as identify optimal times to make bulk purchases and capitalize on reduced prices for essential supplies.

 

Benchmarks Comparisons

Net profit margin (NPM) vs. industry benchmarks

The NPM Vs Industry Benchmarks chart illustrates the net profit margin of a company over a period, juxtaposed with the margin of other firms within the identical sector. Organizations have the opportunity to assess their performance in relation to the median of other companies that share similarities in terms of size, geographical location, and industry.



Gross profit margin (GPM) vs. industry benchmarks

The comparison between the Gross Profit Margin (GPM) and Industry Benchmarks graph serves as an indicator of the adequacy of the company's actual ratio of gross profit to revenue. This tool enables customers to simulate the impact of various pricing frameworks on the profitability margin. The percentage representing the gross profit margin on the graph is derived by the formula (gross profit/sales) × 100.

 

Cash flows

Net cash flow

This diagram presents historical data on the fluctuations in cash balances within the specified date range. It illustrates the overall impact on cash categorized by the nature of the activities, including operating, investing, and financing activities.

 


This isn’t a cash flow projection. It tracks historical cash activity. This could be helpful in tracking historical trends that help clients to plan for future cash events.

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