Customer Sales Reports in QuickBooks Online

In the previous chapter, we covered how to customize and generate key business overview reports, which gave you insights into your entire business. In this chapter, we will focus on reports that provide you with insight into your customers and sales. There are four primary reports we will discuss in this chapter: accounts receivable (A/R) aging reports, open invoices reports, sales by customer reports, and sales by product/service reports. In each section, we will discuss the information you will find on each report, how to customize the reports, and how to generate each report.

Reviewing these reports on a consistent basis will let you know who owes you money, who your best customer is, and which products and services are selling the most. Having access to this information will help you to make informed business decisions.

The following topics will be covered in this chapter:

• Generating an accounts receivable aging report...

Generating an accounts receivable aging report

The accounts receivable aging report, also referred to as the A/R aging report, categorizes unpaid customer invoices into groups based on the number of days they are past due. In general, there are five main categories: current, 1-30 days, 31-60 days, 61-90 days, and 91 and over.

QuickBooks calculates the number of days they are past due based on the invoice date. Business owners should review this report on a weekly basis and use it to follow up on invoices that are past their due date.

Follow these steps to generate an A/R aging report:

1. Navigate to Reports from the left menu bar, as indicated in Figure 12.2:

Figure 12.2: Navigating to the Report Center

2. Scroll down to the Who owes you section and select Accounts receivable aging summary, as indicated in Figure 12.3:

   Figure 12.3: Selecting the accounts receivable aging summary report

   Notice that there is an Accounts receivable...

Generating an open invoices report

The open invoices report is a list of unpaid customer invoices. It is very similar to the accounts receivable aging detail report, but it does not group invoices by the number of days they are past due. However, the open invoices report does include detailed information, such as customer name, invoice date, invoice number, invoice amount, transaction type, and payment terms. Like the A/R aging report, this report can help you to stay on top of the money owed to you. Next, we will walk through how to customize and generate the open invoices report.

Perform the following steps to customize and generate an open invoices report:

1. Navigate to Reports from the left menu bar, as indicated in Figure 12.6:

Figure 12.6: Navigating to the Reports Center

2. Scroll down to the Who owes you section and select Open Invoices.
3. Customize the report period and the aging method of the open invoices report, as indicated in Figure...

Generating a sales by client report

The sales by client report will give a business owner insight into who their best customers are. In addition, you will gain insight into customers who seldom make purchases, which can help you when creating a marketing campaign to increase customer sales. The sales by client summary report includes a list of your customers and the total amount sold during the time period specified. We will show you how to customize and generate this report next.

Follow these steps to customize and generate a sales by client report:

1. Navigate to Reports in the left menu bar, as indicated in Figure 12.9:

Figure 12.9: Navigating to the Report Center

2. Scroll down to the sales and customer section and select the Sales by Client Summary option, as indicated in Figure 12.10:

   

   Figure 12.10: Running the sales by client summary report

   Similar to the A/R aging report, the sales by client report also has a sales by client detail...

Generating a sales by product/service report

The sales by product/service report gives a business owner insight into which products and services are selling the most, as well as which products and services are not selling. Similar to the sales by customer report, you can use this information to create a marketing plan that will help you to sell slow-moving products and services.

This information can also help you determine whether you should add new products and services or eliminate an existing product or service. The sales by product/service report includes the quantity sold (if applicable), the total sales amount, the percentage of sales, the average price, the cost of goods sold, and the gross margin of each item sold.

Follow these steps to generate and customize the sales by product/service report:

1. Navigate to Reports from the left menu bar, as indicated in Figure 12.13:

Figure 12.13: Navigating to the Report Center

2. Scroll down to the...

Summary

Let’s recap: we have learned how to customize and generate four key reports that will give you insight into your customers and sales. We have covered the accounts receivable (A/R) aging reports, which provide you with the number of days for which customer invoices remain unpaid. We explained the open invoices reports, which show all unpaid customer invoices. The sales by customer summary report was covered, which includes key sales data for each of your customers. Finally, the sales by product/service report was covered, which includes the products and services that are your top sellers. These reports are important in assisting you with staying on top of unpaid customer invoices so that you can get paid faster. It is much easier to maintain a positive cash flow if payments are received on time.

In the next chapter, we will learn how to customize and generate key reports that will give you insights about your vendors and expenses.

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