Simplify Your Profit and Loss: Reporting Solutions for Tracking Client Revenue in QuickBooks Online

Tracking revenue within QuickBooks Online can get tricky when you have a lot of clients.

A common question I get from my bookkeeping clients is whether they should create a separate income account in QuickBooks Online for each of their clients.

I don’t think that’s a good idea. It makes your Profit and Loss very long and messy.

Instead, think of categories that you can lump your clients into. Here’s an example of how I like to categorize income for my Profit and Loss report:

A simplified profit and loss income example in QBO.

Instead of having every single client I have them bundled into categories that make sense to me.

Don’t worry, you can still see how much money you’re making from individual clients using reports.

Reporting Options

Within QuickBooks you have a lot of different reports you can use to view all kinds of information about your clients/customers. 

To get to reports click Reports in the left side menu.

Navigating to Reports in QBO

On the Reports screen you can type the word “customer” into the search box to find a long list of customer-related reports.

Searching for Customer related reports in QBO

Let’s take a look at two reports that will show you revenue information.

Sales by Customer Summary

We’re going to use this report to see how much revenue we’ve received from each customer.

First, let’s make a few changes:

  • Report period: All Dates
  • Display columns by: Total Only

You can also use the Sort drop-down at the top of the report to sort by descending order to see your customers from most revenue to least.

Sales by Customer Summary report in QBO showing all dates with totals only in descending order.

You can play around with this report to see more specific data. Like changing the Report period to a custom date range. 

Income by Customer Summary

This report is similar to the previous report except it breaks out Income and Expenses for each customer and shows you the Net Income.

Sales by Customer Income report in QBO

You now know how to figure out how much money you’re making from clients without cluttering up your Profit and Loss report. Scroll down to watch a video walkthrough.

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Are you a small business owner struggling to make sense of your QuickBooks data?

  • Discover how to spot costly mistakes in your bookkeeping and fix them quickly and easily.

  • Save time and money by streamlining your bookkeeping process and reducing errors.

  • Learn how to identify trends in your financial data so you can make smarter business decisions.

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Sign up now for this free mini-course and start mastering the essential bookkeeping skills that every small business owner needs to succeed!

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