Cash flow is basically the amount of money that comes in and goes out in basic terms. It is the amount of money moving in and out of the business and the bank account. The QuickBooks accounting software allows to use different reports and projections to get a clear look at the current and future businesses finances. Well, we have crafted this segment right here, which will brief you with the entire procedure to track cash flow in QuickBooks desktop. 

However, if you do not want to perform the steps for tracking cash flow in QuickBooks desktop on your own, then do not think much and get on a call with our tech geeks immediately, and they will handle the rest of the situation. 

You can look upon the financial position using the steps illustrated below:

In order to track the financial position of the company file, you can simply carry out the steps listed below:

Step 1: Make sure that the data is accurate 

Ensure is that the books of accounts are appropriate and accurate. All the reports will use the data in QuickBooks; thus, it is essential to have a clean starting point. 

• Make sure that you have entered all the transactions into QuickBooks.
  • If you have for some reason set up bank feeds, then download the transactions and match them to the transactions in QuickBooks. 
• Another step is to reconcile the accounts in QuickBooks and make sure to match them with the bank and credit card statements. For any help in reconciling the account, it is a good idea to consult an accountant.

If the report matches with that of the bank statement, then you can start running reports. If not, then check the process to fix beginning balance issues in QuickBooks. 

Step 2: Use the financial reports to see how much you have made 

The profit and loss report and balance sheet report displays the performance of the business depending upon the data in QuickBooks. You can run a profit and loss report for the past 3 months and look into the average income and expenses for each month. 

• Go to the reports menu and then the company and financial option. 
• Select the profit and loss detail. 

• Set the date range for the past 3 months. 
  • Keep a note that if you wish to change what appears on the report, then select. customize report and customize it based on the data you want. 
• The last step here is to print, email, or export the report to excel. 

At the time of checking the income, it is important to ensure to see the top sources of revenue. For expenses, you can look into the things such pay payroll, rent, insurance, and marketing expenses to see where you can reduce your spending. 

Run a balance sheet detail report 

Running a balance sheet report helps in getting the financial snapshot of the company as of the specific date. This will also calculate the business worth by eliminating the money your company owes from the amount you own. 

• Head to the report menu and then the company and financial. 
• Go for the balance sheet detail. 

• Select customize report and customize it according to the data required. 
• Lastly, print, email, or export the report to excel. 

Tracking cash flow in QuickBooks isn’t a tough process, especially when you are well versed with the steps stated in this segment. 

However, if such a situation arise that you aren’t able to track the cash flow in QuickBooks even after performing the said steps, then in that case get on a call with our QuickBooks technical support professionals immediately at 1-800-615-2347, and let them handle the rest of the situation.

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