August 7, 2019

Reporting of Key Performance Indicators

QuickBooks Online
Ronald B. Allen

A key factor when building useful business reports is the selection of key performance indicators. A key performance indicator or KPI is a number that you can measure and that shows how well you are doing in achieving a specific business goal. A business will almost always have several key performance indicators for specific goals in various parts of the business. At a minimum, you should be looking at key performance indicators every bookkeeping cycle. Better yet, your reporting software should include a “dashboard” that lets you track in real time. How are you reporting your key performance indicators?

How Do You Report Key Performance Indicators?

The question really is, how do you best design reports to most effectively oversee your business and make critical decisions? At Exigo Business Solutions we offer QuickBooks ProAdvisor Services. We will be pleased to help you set up QuickBooks Custom Reports or more advanced, business intelligence solutions to optimize your business reports and highlight your key performance indicators.

The first decision is which indicators you want your reports to highlight. And then, how easy or difficult are they to pull out of your data. If all you want to see is the profit or loss at the end of the month, you are not looking closely enough at the data. Custom reports in QuickBooks should be showing you an overview of company finances, budgeting information, forecasting data, bank balances and transactions, debt servicing, sales, receivable, payroll, and much more. If you need help setting up custom reports to show you key performance indicators each month, contact us today. Working in QuickBooks, generating meaningful reports and maximizing your profits is our passion.

What if You Have a More Complicated Business Setup?

You may have more than one business or multiple business entities within your overall structure. You may have separate QuickBooks or other means of doing your books. If you have a more extensive setup than just one business or if your business has grown to a level of complexity that you are losing track of things, you need a more robust means of reporting key performance indicators from data that is spread across multiple platforms. Then you need a business intelligence solution.

We work with several software programs that help our clients take data from one or more QuickBooks as well as other data sources and create smart reports. These programs help analyze data and present it in such a way that you can easily track key performance indicators, often in real time.

These are programs that we find useful  when a client needs a business intelligence solution to report key performance indicators:

• Excel, Pivot Tables, and Power Pivot

• Microsoft Power BI

• Spotlight Reports

• QQube Reports

• QBAR

Each of these tools provides a business with the ability to consolidate, correlate, analyze, and report data in such a way as to focus on key performance indicators and improve business decision making.

Our experts at Exigo Business Solutions routinely deal with all of these business software tools. We will be pleased to help you most set up reports that effectively highlight and track the key performance indicators in your business.

The When, Why, and How of Customer Statements

QuickBooks Online

Are You Using QuickBooks Online's Mobile App?

QuickBooks Online

Creating Product and Service Records in Quickbooks

QuickBooks Online