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:
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.
On the Reports screen you can type the word “customer” into the search box to find a long list of customer-related reports.
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.
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.
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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If you have questions about reports or tracking revenue within QuickBooks Online click the green button below to schedule a free consultation.