{"id":1001136,"date":"2018-04-05T11:54:26","date_gmt":"2018-04-05T15:54:26","guid":{"rendered":"http:\/\/blog.bmcgiverncpa.com\/?p=1001136"},"modified":"2020-01-22T04:13:14","modified_gmt":"2020-01-22T04:13:14","slug":"using-quickbooks-income-tracker","status":"publish","type":"post","link":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/2018\/04\/05\/using-quickbooks-income-tracker\/","title":{"rendered":"Using QuickBooks\u2019 Income Tracker"},"content":{"rendered":"<p><em>QuickBooks provides numerous ways to learn about your company\u2019s health. Income Tracker is one of the most effective.<\/em><\/p>\n<p>You can get an enormous amount of useful information from QuickBooks\u2019 reports \u2013 especially if you customize them to isolate the precise data you want. Reports included with the software range from the very simple, like <strong>Open Invoices<\/strong>, to output that\u2019s exceptionally complex, like <strong>Trial Balance <\/strong>and <strong>Profit &amp; Loss<\/strong>.<\/p>\n<p><em>Warning: Standard financial reports like <strong>Trial Balance <\/strong>are easy to run in QuickBooks, but very difficult to understand and analyze. You should, though, be aware of what they\u2019re telling you at least once a quarter \u2013 even once a month in some cases. We can help with this.<\/em><\/p>\n<p>Sometimes, especially first thing in the morning <!--more-->as you\u2019re planning your day, you just want to cut to the chase and get a quick overview of your company\u2019s finances. That\u2019s where QuickBooks\u2019 <strong>Income Tracker <\/strong>comes in. It not only provides that overview, but it also contains links to related screens where you can do the work that\u2019s needed there.<\/p>\n<p><strong>A Simple Layout<\/strong><\/p>\n<p>Click the <strong>Income Tracker <\/strong>link in the toolbar to open the tool\u2019s main screen. If you\u2019ve been using QuickBooks for a while, you\u2019ll see a framework like this with your own company\u2019s data already filled in.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-1001137 size-full\" src=\"http:\/\/www.bmcgiverncpa.com\/wp-content\/uploads\/2018\/03\/QBC-0917-image-1.jpg\" alt=\"\" width=\"987\" height=\"280\" srcset=\"https:\/\/www.bmcgiverncpa.com\/blog\/wp-content\/uploads\/2018\/03\/QBC-0917-image-1.jpg 987w, https:\/\/www.bmcgiverncpa.com\/blog\/wp-content\/uploads\/2018\/03\/QBC-0917-image-1-300x85.jpg 300w, https:\/\/www.bmcgiverncpa.com\/blog\/wp-content\/uploads\/2018\/03\/QBC-0917-image-1-768x218.jpg 768w\" sizes=\"(max-width: 987px) 100vw, 987px\" \/><\/p>\n<p><em>QuickBooks <strong>Income Tracker <\/strong>displays both summaries of income types and the specific transactions that contribute to those totals.<\/em><\/p>\n<p>Look first at the top of the screen. You\u2019ll see six horizontal bars, each of which represents groups of transactions that either require immediate attention or will at some point in the future. Besides identifying the type of transaction, each block displays the number of transactions involved and their total dollar amount. They are:<\/p>\n<ul>\n<li><strong>Estimates <\/strong>\u2013 estimates that have been created and shared with customers, but haven\u2019t yet turned into sales<\/li>\n<li><strong>Sales Orders <\/strong>\u2013 orders that have been entered but have been neither fulfilled nor converted to invoices<\/li>\n<li><strong>Time &amp; Expenses <\/strong>\u2013 hours that have been recorded for customers but not yet invoiced<\/li>\n<li><strong>Open Invoices <\/strong>\u2013 invoices that have been created and sent to customers, but no payments have been received<\/li>\n<li><strong>Overdue <\/strong>\u2013 open invoices that have passed their due dates<\/li>\n<li><strong>Paid Last 30 Days <\/strong>\u2013 payments that have been received within the last 30 days<\/li>\n<\/ul>\n<p><strong>Modifying the View<\/strong><\/p>\n<p>Click on any of the colored bars, and the list of transactions below will change to include only those that meet that particular criteria. To get back to the default display of all transactions, click the <strong>Clear\/Show All <\/strong>link in the upper right of the screen.<\/p>\n<p>QuickBooks also lets you display a user-defined subset of the transactions. Click on one of the four drop-down lists above the transaction grid itself to change the view of:<\/p>\n<ul>\n<li><strong>Customer: Job <\/strong>\u2013 choose just one from the complete list<\/li>\n<li><strong>Type<\/strong> \u2013 <strong>Sales Orders<\/strong>, <strong>Invoices<\/strong>, <strong>Received Payments<\/strong>, etc.<\/li>\n<li><strong>Status <\/strong>\u2013 <strong>All<\/strong>, <strong>Open<\/strong>, <strong>Overdue<\/strong>, or <strong>Paid<\/strong><\/li>\n<li><strong>Date <\/strong>\u2013 multiple ranges available<\/li>\n<\/ul>\n<p>You can also modify the toolbar if your company doesn\u2019t use all the sales forms\/transaction types supported. To do so, click the gear icon in the far upper right of the screen and click in the boxes in front of <strong>Estimates<\/strong>, <strong>Sales Orders<\/strong> and\/or <strong>Time &amp; Expenses <\/strong>to remove them.<\/p>\n<p><strong>Taking Action<\/strong><\/p>\n<p>QuickBooks\u2019 Income Tracker provides a great way to get a quick look at your finances. But it also serves as a launching pad for related activities.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-1001138\" src=\"http:\/\/www.bmcgiverncpa.com\/wp-content\/uploads\/2018\/03\/QBC-0917-image-2.jpg\" alt=\"\" width=\"594\" height=\"184\" srcset=\"https:\/\/www.bmcgiverncpa.com\/blog\/wp-content\/uploads\/2018\/03\/QBC-0917-image-2.jpg 594w, https:\/\/www.bmcgiverncpa.com\/blog\/wp-content\/uploads\/2018\/03\/QBC-0917-image-2-300x93.jpg 300w\" sizes=\"(max-width: 594px) 100vw, 594px\" \/><\/p>\n<p><em>Click the down arrow in the <strong>Action <\/strong>column to take care of tasks related to that transaction.<\/em><\/p>\n<p>Highlight a transaction by clicking in the row, then click the down arrow at the end of the row in the <strong>Action <\/strong>column. The options that appear there depend on the type of transaction you selected. Choose a <strong>Sales Order<\/strong>, for example, and you can <strong>Convert to Invoice<\/strong>, <strong>Print Row<\/strong>, or <strong>Email Row<\/strong>. Options for an invoice are <strong>Receive Payment<\/strong>, <strong>Print Row<\/strong>, or <strong>Email Row<\/strong>.<\/p>\n<p>As we said before, QuickBooks offers numerous reports that can give you more insight about your accounts receivable. If you understand the software\u2019s robust customization tools, you can create reports about your income that will answer questions you may have. If you don\u2019t, let us know. We\u2019ll be happy to work with you on pulling together just the data you need.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>QuickBooks provides numerous ways to learn about your company\u2019s health. Income Tracker is one of the most effective. You can get an enormous amount of useful information from QuickBooks\u2019 reports \u2013 especially if you customize them to isolate the precise data you want. Reports included with the software range from the very simple, like Open [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[46,47],"tags":[40,41,42,43,44,45,48,49],"yst_prominent_words":[],"_links":{"self":[{"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1001136"}],"collection":[{"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=1001136"}],"version-history":[{"count":1,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1001136\/revisions"}],"predecessor-version":[{"id":1001226,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/1001136\/revisions\/1001226"}],"wp:attachment":[{"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=1001136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=1001136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=1001136"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.bmcgiverncpa.com\/blog\/index.php\/wp-json\/wp\/v2\/yst_prominent_words?post=1001136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}