Intuit, the creator of QuickBooks has been committed to providing its customers with state of the art solutions that help them with their accounting requirements. Some of these solutions are forecasting tools that help QuickBooks users to anticipate cash flow issues or other opportunities on the horizon. A new trends widget provides useful information that allows businesses to compare themselves with others in their industry.
The trends widget is in the QuickBooks Online package. Users can compare their business with other businesses based on a number of variables. These variables include the industry, annual income limits, and location. The trends widget then shows the following statistics: average percentage of sales growth, expenses by different types and income by different types. The widget also has the ability to show other statistics that are important to business owners, one example being the percentage of new sales in comparison to sales from existing customers. Other important statistics available include: the ratio of cash flow, the percent profit margin in terms of gross, net, and operating profit, median total income earned the last year or quarter and median total expenses.
The widget is particularly valuable because it provides useful information to business owners that allow them to compare themselves to competitors and other business professionals. Most of the time the only other way to get this information is from hearsay. The widget can also be useful to owners that are interested in expanding their business. The widget can be used to see if the business would be profitable. Also the widget can be used to provide hard data for a financing proposal. Finally business owners can acquire important data that can improve their business, for example whether they are paying too much on rent or spending too few dollars on advertising than their competitors.
While this widget provides quality data, the business owner can relax knowing that the information is secure. No business owner ever finds out the identity from which the data is extrapolated. Each individual business owner’s data is anonymous. The widget will not provide all of the information that a business owner requires to make a decision, it does provide solid and objective information.
At St. Louis Accounting Services, we provide a full range of QuickBooks services. If one has questions about the widget or the QuickBooks Online package, please do not hesitate to call us at 314-718-0956 or email us at email@example.com.