One of the reasons QuickBooks appeals to millions of small businesses is because it accommodates different work styles. And, the new Income Tracker is another powerful tool you can use.
Income Activity All in One Place
While I will admit that the Company Snapshot is still my favorite screen, which you can turn back on if you “lost” it, what I like best about the new Income Tracker is that you can easily see Estimates, Sales Order, Invoices and Past Due all in one place!
If it’s not already on your toolbar, go to Customers > Income Tracker.
You’ll see colored bars across the top of the screen – unbilled estimates, sales orders, open invoices, overdue invoices, and payments within the last 30 days. Each bar contains two numerical values: the number of transactions of that type and the dollar amount involved.
QuickBooks defaults to displaying all types of transactions, but you can click on the bar and select only one type of transaction if you want.
Figure 1: QuickBooks’ Income Tracker provides a visual overview of your company’s income.
Search and Filter Capabilities
You can also filter the transactions by using the drop-down lists below the colored bars. Your choices here include Customer:Job, Type, Status (Open, Paid, etc.) and Date (range). Click the arrow to the right of each filter’s label to display your options. The column labels below these lists will change depending on the transaction type that’s active.
Figure 2: You can filter the transactions you see.
The Income Tracker is great for simply viewing groups of transactions; double-clicking on one will open the original form. You can also open them by selecting an action to take. For example, open your estimates list and click on a transaction to highlight it. Then click the arrow next to Select in the Action column at the far right end of the row.
Figure 3: You can modify transactions like estimates from within the Income Tracker.
If you choose the first option here, QuickBooks opens a small window that asks you whether you’d like to create an invoice for 100 percent of the estimate, a percentage of it, specific items, or percentages of each item. When you make your selection and click OK, a completed invoice form opens, which you can then check over and save.
As you can see above, you can also mark the estimate as inactive, print it, or email it.
Each type of transaction will have a different set of actions. In the open invoice action column, as you’d expect, you can click the option to Receive Payment, which opens the Customer Payment window with the customer and amount due already filled in. This can be edited to reflect a different amount, or you can just accept it as is, then save it.
You can even create a new transaction within the Income Tracker. Click on the arrow next to Manage Transactions in the lower left corner of the screen and select the form you want.
Figure 4: You can open new transaction screens from within QuickBooks’ Income Tracker.
The Income Tracker also provides one of the fastest ways to print multiple forms. Just select the transactions you want to print by clicking in the box in front of them, and then click the arrow next to Batch Actions in the lower left corner.
Finally, you can edit transactions from here, too. Either double-click on one or select it and click Edit Highlighted Row in the Manage Transactions menu.
While QuickBooks’ Income Tracker doesn’t do anything that can’t be done another way in the program, you might find it’s a tool you use frequently!