3 Powerful Reports in QuickBooks Online Every CEO Should Review

Every business owner knows they should be looking at their Profit & Loss statement. But if that's the only report you're reviewing, you're only seeing a small piece of your financial story. QuickBooks Online (QBO) is an incredibly powerful tool, and hidden within it are reports that can provide deep, strategic insights to drive better decision-making.

Let's move beyond the basics. Here are three powerful reports in QuickBooks Online, and more importantly, the strategic questions they help you answer.

1. The Accounts Receivable (A/R) Aging Summary

• What It Is: This report shows you how much your customers owe you and breaks it down by how long the invoices have been outstanding (e.g., 1-30 days, 31-60 days, 61-90 days, etc.).

• Where to Find It: In the "Reports" section, search for "Accounts Receivable Aging Summary."

• The Strategic Question It Answers: "How healthy is my cash flow, and who are my riskiest customers?" This report is your early warning system for cash flow problems. If you see a large balance in the "61-90 days" column, you have cash that's been sitting on someone else's balance sheet for three months. It immediately tells you which clients require a follow-up call and helps you identify customers who are chronically late payers, which may influence your decision to work with them in the future.

2. The Statement of Cash Flows

• What It Is: This report shows exactly how cash has moved in and out of your business over a specific period. It breaks down cash movement into three categories: Operating Activities, Investing Activities, and Financing Activities.

• Where to Find It: In the "Reports" section, under "Business Overview," you'll find "Statement of Cash Flows."

• The Strategic Question It Answers: "Why doesn't my bank balance match my profit?" This is one of the most common questions from business owners. The Statement of Cash Flows provides the answer. It can show you that while you were profitable, you spent a lot of cash on new equipment (Investing) or paid down a large amount of debt (Financing). It's the ultimate tool for understanding the true liquidity and financial health of your business.

3. The Profit & Loss by Customer

• What It Is: This report breaks down your revenue and costs for each individual customer, allowing you to see which clients are actually the most profitable for your business.

• Where to Find It: In the "Reports" section, search for "Profit and Loss by Customer." (Note: This requires proper job costing and expense allocation to be truly accurate).

• The Strategic Question It Answers: "Where should I be focusing my sales and marketing efforts?" You might be surprised to find that your largest customer by revenue is actually one of your least profitable due to the high costs associated with servicing them. This report helps you identify your ideal customer profile, make strategic decisions about pricing, and potentially "fire" unprofitable clients that drain your resources.

From Data to Decision

Having access to these reports is the first step. The real value comes from being able to interpret the data, spot the trends, and turn those insights into profitable action. This is where a strategic financial partner can provide tremendous value, helping you go beyond the numbers and truly understand the story they tell.

Ready to unlock the strategic insights hidden in your financials? Contact BKC Bookkeeping today. We help business owners turn data into confident, profitable decisions.