The New Income Tracker in QuickBooks 2014


The new Income Tracker feature in QuickBooks 2014 appears to be much like the Income List in QuickBooks Online. This is a valuable feature that condenses, in one easy to read screen, information that otherwise, exists in several different places in QuickBooks.

Across the very top you can see the overview of the company’s open transactions with customers.

  • What outstanding estimates exist in the company file? Can the company follow up on these?
  • Are there open sales orders? (Premier only)
  • How many and what is the dollar value of open customer invoices?
  • Are there customer invoices overdue? If so, how many and how much money do those invoices represent?
  • Have invoices been recently paid by customers? How much?

Besides a quick overview of where you stand with your customers, this list can be sorted and filtered, allowing an in depth picture of what can or should be done to improve company cash flow.

Invoices can be sorted by date, oldest first. See the Action column.


Reprint and send another copy by email as a reminder for customers to pay delinquent amounts. The Receive Payment function can be started from this window as well.

If re-sending emails for old invoices, it is not necessary to select one at a time. By using the checkboxes on the left side of the window, it is possible to process several in one batch.

Because of the functionality built into this feature, it is probable that many who have used the Collections Center for working with overdue customer balances in the past, will now use Income Tracker instead. However, Collections Center is still available for those who may prefer it.


By checking the box at Edit->Preferences->Sales & Customers->Company Preferences, the Collections Center will be available in the QuickBooks company file.

Staying on top of and managing customer transactions is considerably simplified now with this new enhancement to QuickBooks.

Hector Garcia, CPA
hector@garciacpa.com    

 

Hector Garcia CPA and QuickBooks/Excel Trainer

Hector Garcia CPA and QuickBooks/Excel Trainer

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