{"id":68,"date":"2025-01-10T15:22:58","date_gmt":"2025-01-10T15:22:58","guid":{"rendered":"https:\/\/www.gunbycpa.com\/blog\/?p=68"},"modified":"2025-03-10T15:24:55","modified_gmt":"2025-03-10T15:24:55","slug":"5-ways-to-see-who-owes-you-in-quickbooks-online","status":"publish","type":"post","link":"https:\/\/www.gunbycpa.com\/blog\/5-ways-to-see-who-owes-you-in-quickbooks-online\/","title":{"rendered":"5 Ways to See Who Owes You in QuickBooks Online"},"content":{"rendered":"
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I\"Seenf you micromanage one thing in QuickBooks Online, let it be your accounts receivable.<\/em><\/p>\n

What do you do first when you sign on to QuickBooks Online? The site opens to your Dashboard, which provides a quick overview of your company\u2019s finances. It\u2019s easy enough to branch out from there to take care of business, whether it\u2019s paying bills or categorizing newly downloaded transactions from your bank or checking your account balances.<\/p>\n

Those tasks are all important, but you probably don\u2019t do all of them every time you have a QuickBooks Online session. The one thing we really hope you do frequently\u2014every time you access the site, really\u2014is check to see who you owe and who owes you. We\u2019re going to focus on the latter in this column, since it has such an impact on your overall cash flow.<\/p>\n

QuickBooks Online provides several ways to ensure you\u2019re getting paid for your goods and services and to identify any late payments. This information is vital for understanding how your receivables compare to your payables, helping you determine whether you\u2019re making a profit, breaking even, or losing money.<\/p>\n

Here\u2019s an overview of the tools available.<\/p>\n

Dashboard Insight<\/strong><\/p>\n

QuickBooks Online\u2019s Dashboard consists of three elements, accessible by clicking tabs.\u00a0Home<\/strong>\u00a0is just what it sounds like. It\u2019s a home base for the most important numbers in your company file. We\u2019d like you to pay special attention here to the\u00a0Income<\/strong>\u00a0widget (block of data). It gives you an abbreviated look at your open and overdue invoices and your incoming payments over the last 30 days.<\/p>\n

TIP: Click the Customize layout bar if you want to move these widgets around to make them more prominent.<\/em><\/p>\n

\"QuickBooksYou can customize QuickBooks Online\u2019s\u00a0Home<\/strong>\u00a0page to prioritize the widgets you want displayed most prominently.<\/p>\n

Click the next tab,\u00a0Cash flow<\/strong>, and scroll down to\u00a0MONEY IN<\/strong>. Here, you\u2019ll see the current month\u2019s\u00a0Upcoming<\/strong>\u00a0and\u00a0Paid<\/strong>\u00a0invoices in a graph, and a list of\u00a0Overdue<\/strong>\u00a0and<\/p>\n

Open invoices. You can create and view invoices here, too, and see a cash flow chart at the top of the page that goes six months both forward and back.<\/p>\n

The\u00a0Planner\u00a0<\/strong>tab opens the more comprehensive\u00a0Cash flow planner<\/strong>, displaying a 1-24 month interactive graphic based on transactions you\u2019ve already entered in QuickBooks Online (they\u2019re listed below). You can toggle between\u00a0Money in\/out<\/strong>\u00a0and\u00a0Cash balance<\/strong>. On both, you can move your cursor on the chart to see details from individual days and months. You can edit future transactions and add them to see what impact those actions would have on your cash flow.<\/p>\n

This does not change your QuickBooks Online data. It\u2019s merely for demonstration purposes. You could see what would happen to your future cash flow if, for example, you planned to make a major purchase or expected to receive an influx of revenue.<\/p>\n

The Sales Page<\/strong><\/p>\n

Your home base for checking on your outstanding cash, though, is the\u00a0Sales<\/strong>\u00a0page. Hover over\u00a0Sales<\/strong>\u00a0in the toolbar and select\u00a0All sales<\/strong>. This page provides a visual display of the status of your invoices as they travel through QuickBooks Online. Colored bars represent the five stages in the process:\u00a0Estimates, Unbilled income, Overdue invoices, Open invoices and credits, and Recently paid<\/strong>.<\/p>\n

Each shows you the dollar amount involved and sometimes the number of transactions. So you can see instantly what needs to be moved along and whether you need to nudge a customer to pay. Click any of these, and the list of related transactions appears below.<\/p>\n

\"QuickBooksQuickBooks Online\u2019s\u00a0Sales<\/strong>\u00a0tools help you see at a glance where your money is tied up.<\/em><\/p>\n

The list is interactive. That is, there\u2019s an\u00a0Action<\/strong>\u00a0column at the end of each row that tells you what your action options are for that particular transaction. For example, for\u00a0Unbilled income<\/strong>, you can\u00a0View\/Edit, View activity<\/strong>, and\u00a0Create invoice<\/strong>. You can also print the list and export it to Excel.<\/p>\n

Detailed Reporting<\/strong><\/p>\n

To gain a deeper understanding of who owes you money, run detailed reports in QuickBooks Online. Click\u00a0Reports<\/strong>\u00a0in the toolbar and scroll to the\u00a0Who owes you<\/strong>\u00a0section. Here, you\u2019ll find a variety of pre-formatted reports that can be customized to suit your needs and should be run regularly, depending on your business volume.<\/p>\n

The\u00a0A\/R Aging Summary<\/strong>\u00a0report, for example, shows which customers have current balances and which are overdue by 1-30, 31-60, 61-90, or 91+ days. You can customize this report further by selecting options like\u00a0Report period, Aging method<\/strong>, and\u00a0Days per aging period<\/strong>. Other key reports include\u00a0Open Invoices, Unbilled Time, Unbilled Charges<\/strong>, and\u00a0Customer Balance Summary<\/strong>, which collectively provide a comprehensive view of your receivables.<\/p>\n

In addition to these, advanced financial reports like the\u00a0Statement of Cash Flows, Profit and Loss,<\/strong>\u00a0and\u00a0Balance Sheet<\/strong>\u00a0are crucial for assessing your overall financial health. These reports should be generated monthly or quarterly. We can assist you in running and analyzing them to ensure you have a complete understanding of your financial status, especially if you\u2019re applying for a loan or seeking investors.<\/p>\n

Contact us anytime, in fact, if you need advice on managing your receivables \u2013 or if your cash flow has grown troubling. We can help you understand the ways QuickBooks Online can assist as you explore the flow of your incoming revenue and try to accelerate it.\"Seen<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you micromanage one thing in QuickBooks Online, let it be your accounts receivable. What do you do first when you sign on to QuickBooks Online? The site opens to your Dashboard, which provides a quick overview of your company\u2019s finances. It\u2019s easy enough to branch out from there to take care of business, whether […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/posts\/68"}],"collection":[{"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/comments?post=68"}],"version-history":[{"count":1,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions"}],"predecessor-version":[{"id":76,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions\/76"}],"wp:attachment":[{"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/media?parent=68"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/categories?post=68"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gunbycpa.com\/blog\/wp-json\/wp\/v2\/tags?post=68"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}