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June 13, 2008

Quickbooks Expense Analysis and Sales Dashboards

Quickbooks Dashboard
Quickbooks is a very popular "micro ERP" application and dominates the Small Business Market. One of the benefits of using Quickbooks for my own business is the simplicity and ease of use. You can run a report and from the report you can drill down straight to the transactions. I learnt a lot of things using quickbooks just by running reports, finding the reported amount in the wrong account, I would then drill down straight to the transactions, change the account, and when I refresh the report ...boom.. I can see my changes. Instant productivity!

When it comes to reporting, there are very few options for Quickbooks. Quickbooks is for small to medium sized businesses and SMB's power the US economy. As of yet, very little has been done to empower the SMBs in their reporting and Analytics.

In one of the surveys it was mentioned, most of the new Small business's fail not because of their execution or anything else but because the owner never realized where the problem is. To keep track of your business, you need to actively monitor who is your top customer, what is your open account receivables, what is your inventory etc.

Sure, all of this information is available right in Quickbooks but the problem is you need to run seperate reports to get all these informations. So lets say it typically takes 5 mins to run a typical report and if the business owner where to run say 10 different reports on a daily basis that itself accounts to a precious 50 mins of his/her time.

A small business is often bootstrapped and obviously there are no administrators who will run the reports so all of the onus falls on the owner to keep a daily health check of his business.

This is a major major pain and the most painful part is that this is a tough part to comprehend, understand and implement for a small business owner.

The below screenshot is for Expense Analisys Dashbaord

Quickbook Dashboards,Quickbooks Reporting,Dashboards,dashbaord

The above dashboard is very dynamic. You can change the period type to Year,Quarter, Month, week or Days. The first chart shows the Expense trending by period, instantly tells you how you are managing your expenses.

The 2nd chart tells the Average Expense/Day which is an interesting KPI and the remaining two charts show the expense by payee (vendor) and by Account.

Now take a look at the below Sales Dashboard

Quickbook Sales Dashboard,Sales reporting,Quickbooks

Here is the chart listing:

-"Sales by Period" (Year, Quarter, Month, Week, Days)
-"Average Sales/Day"
-"Top 10 Customers"
-"Top 10 Products"
-"COGS by Period"

Similarly you can take the Quickbooks database and build a series of dashboards for Inventory Monitoring and integrate different pieces to it.

Posted by Small Business Dashboards at June 13, 2008 8:00 PM

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