QuickBooks Performance Center

by

General Ledger

Last year at QuickBooks Connect the Business Performance Dashboard was first introduced, Insightful Accountant gave you a 'first look' into that feature for QuickBooks Online Accountants during the conference. Subsequently we kept you up-to-date about enhancements to the dashboard in both print and during our QB Talks Quarterly QBO Updates.

Recently the Business Performance Dashboard underwent a facelift and became the 'Performance Center' found within QuickBooks Online Accountant which is designed to give accounting professionals with advanced data tools to delivery advisory services to their clients. The Performance Center is also available within QuickBooks Online Advanced to help those small business users make critical decisions impacting the day-to-day operations of their businesses.

Users of QuickBooks Online Accountant and QuickBooks Online Advanced will find the new Performance Center under Reports rather than under the old Overview left-hand menu item.

The Performance Center affords automated and customizable performance dashboards with business metrics in one central location.

Key metrics include Accounts Payable, Accounts Receivable, Cost-of-goods Sold, Gross Profit, Net Profit, Revenue Stream, Cash-flow, Current Ratio and Quick Ratio. 

You will be able to add KPIs to your dashboard that matter the most to you, and also other reports that you want to see, as well as benchmark your data against past periods or the same period last year. The 'custom chart builder' feature gives you control within the Performance Center over the information you want on your dashboard.

Once you have created the charts and depictions, the latest data will be reflected automatically each time you open or refresh it. And soon there will be export options for all of your dashboard data.

You can choose to include 'industry benchmarks' to display how your profit margin compares against peers, based on your industry, revenue band, location and accounting method.

Users can edit what industry they belong to based on the NAICS codes. Both Net Profit Margin and Gross Profit Margin are supported with Industry Benchmarks.