You keep score in sports to see how you are doing. Well now you have a way to keep score of your business.
Now available to all QuickBooks Online Plus users is an easy way to track three key business metrics and compare your performance to businesses in your industry. The new Scorecard feature shows you three key ratios that can provide valuable business insights:
Net Profit Margin – how much money do I have left after paying for everything?
Sales Growth – is the demand for my products or service increasing or decreasing?
Cash Flow (quick ratio) – Do I have enough money coming in to pay my bills?
We heard from customers that you need a drop dead simple and effective way to gauge how your business is doing on a regular basis. By seeing your performance in three key areas (Profit, Sales, and Cash Flow), we hope you will find actionable insights you can use to more effectively run and improve your business – if not validate the great job you’re already doing!
You can access this feature by clicking on the “My Business Scorecard and Industry Comparisons” link via Company Snapshot under Reports.
Do you find this feature useful? Does your score surprise you? Are there other business metrics you would like to see in your Scorecard? Let us know in the comments below!
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