There are numerous QuickBooks Online reports that you should be consulting at regular intervals. I believe you need these five at least every month to provide you with invaluable knowledge on the current status of your business. They are:
1. Accounts Receivable Aging Detail – Displays a list of invoices that haven’t yet been paid, divided into groups like 1-30 days past due, 31-60 days past due, etc.
2. Budget/Prior Period vs. Actuals/Current Period – Just what it sounds like: a comparison of your monthly budgeted or prior period amounts and your actual current period income and expenses.
3. Unpaid Bills – Helps you avoid missing accounts payable due dates by displaying what’s due and when.
4. Sales by Product/Service Detail. Tells you what’s selling and what’s not by displaying date, transaction type, quantity, rate, amount, and total.
5. Product/Service List – An accounting of the products and/or services you sell, with columns for price, cost, and quantity on hand.