How to Use QuickBooks Income Tracker

Using QuickBooks Income Tracker

QuickBooks accounting software comprise of many advance features and tools that makes complex accounting simple. QuickBooks Income Tracker is a tool that eases is generating and processing sales within your company file. When you want to access the Income Tracker in QuickBooks, you just have to select customers -> Income tracker from the menu bar. With the release of QuickBooks 2014 version the new Income Tracker tool was added along with the existing features in QuickBooks Pro, Premier and Enterprise. With the help of the tool you can easily view all your income generating transactions in one go. Also the overdue invoices can be viewed on the screen.

Ways to Use QuickBooks Income Tracker

Different Ways to Use QuickBooks Income Tracker Tool

There are different ways QuickBooks provides to gain insight about financial status of the company. Income Tracker is serves as the most effective medium to determine the same. QuickBooks reports accord a great deal of information in case you are customizing it for specific data. QuickBooks reports generally include simple open invoices to complex Trial Balance or Profit & Loss report. The standard financial reports are difficult to analyze but quite easy to run in QuickBooks.

QuickBooks Income Tracker makes its entry when you just want to have a quick overview of your company’s finances. It provides a detailed overview with the related links where you can do the work that is required to be done there. The layout of the QuickBooks Income Tracker tool is very simple.

  • Go to the Tool bar
  • Click the Income Tracker link
  • Open the main screen of the Income Tracker tool
  • For the previous QuickBooks users can see a similar structure with the company data entered.

QuickBooks Income Tracker tool showcases the summaries of both income types and the specific transactions that together determine the totals.

When you will open the tool you can see six horizontal bars, where each bar stands for groups of transactions that needs immediate attention or may be in the future. The different bars represent the number of transactions comprising the total dollar amount. They are as follows:

  • Estimates: The bar comprise of those estimates that have been generated and shared with customers, but not converted into sales.
  • Sales Orders: This bar comprise of orders that are entered but not fulfilled or converted to invoices.
  • Time & Expenses: This bar includes the total hours that have been recorded for customers but not invoiced till now.
  • Open Invoices: Here in this bar it contains those invoices that are created and sent to customers, but payments not yet received.
  • Overdue: This bar shows all the open invoices that have passed their due dates.
  • Paid Last 30 Days: This bar displays the payments that have been received within the last 30 days.

Modifying the View

  • For modifying the view of the transactions follow the steps below:
  • Click on any of the colored bars
  • The list of transactions will change to include that meets that certain criteria
  • To get back to the default display of all transactions: Click the Clear -> Show All link in the upper right of the screen.

QuickBooks also showcases user-defined subset of the transactions. You can select any one out of the list to change the view of:

  • Customer: Select one from the list
  • Type: Sales Orders, Invoices, Received Payments, etc.
  • Status: All, Open, Overdue, or Paid
  • Date: variety of ranges available

The tool bar can also be modified in case the organization does not use the sales forms/transaction types supported. For that you follow the steps:

  • Click the gear icon in the far upper right of the screen and
  • Click in the boxes in front of Estimates, Sales Orders and/or Time & Expenses to remove them.
  • QuickBooks Income Tracker offers a good platform to get a quick view on your finances. It also helps in different activities.
  • Highlight a transaction by clicking in the row
  • Click the down arrow at the end of the row in the Action column.
  • The options that appear there depend on the type of transaction you selected.
  • Choose a Sales Order (you can convert to Invoice, Print Row, or Email Row). Options for an invoice are Receive Payment, Print Row, or Email Row.

QuickBooks offers different reports that provide you more insight about your accounts receivable. If you are through with customization tools of QuickBooks, you can generate reports about your income that will give you a clear picture of all the things.

For more details on QuickBooks Income Tracker Tool you can connect with reliable QuickBooks help desk phone number that offers round the clock support through its proficient customer support team. Dial the toll free number + contact and garner quick assistance.

Source: 99accounting

 

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