New Reports Feature: Company Snapshot
QuickBooks Online has an extensive set of reports ranging from traditional financial statements like the Income Statement and Balance Sheet to detailed transaction-level reporting. These reports are primarily designed to help businesses and their accountants with tax preparation, reporting, and audits. One of the newest features we’ve added to QuickBooks Online is the Company Snapshot, which uses the same financial data that these reports offer but displays it in a more intuitive visual layout. The goal of the Company Snapshot is to help business owners get a quick view of their businesses finances in a way that helps them save time and make business decisions.
The Company Snapshot displays your company’s revenues and expenses in year over year comparisons, breaks down data in a pie chart format, and even pulls data from your accounts receivables to show which customers owe you the most. One of my favorite parts of the Company Snapshot is the monthly expense comparison shown below, which displays each month’s expenses with a year-over-year comparison. This chart is a great way to understand how your company’s total costs are trending overtime and judge your success in keeping expenses down. This is actually similar to what I used to do in Excel to understand expense trending over time, but now have no need for it because I can see it in the reports section.
The Company Snapshot isn’t a replacement for financial statements—it’s a different view of the same data, making it easy to make monthly and yearly comparisons. Let us know what you think or if there is any other data you’d like to see in this graphical format.
About Me: I am on the QuickBooks Online product marketing team and like to drink good coffee, go running, and play guitar.Explore posts in the same categories: Features, Reporting