Have you ever wondered how to build custom Power Bi solutions using QuickBooks connector? For modern small and medium businesses, QuickBooks Online (QBO) provides a robust platform to manage core financial processes including accounting, invoicing, inventory and reporting. However, even sophisticated systems like QBO have limitations for data analysis which can prevent growing companies from unleashing the true value of their business information for strategic decision-making.
This is where the power of dedicated business intelligence (BI) tools comes into play. By extracting QBO data into a BI environment like Microsoft Power BI, it unlocks advanced analytic capabilities through interactive visualizations, customizable dashboards and automated report distribution. Of course, specialized expertise is required to model complex data and deliver such solutions tailored to each unique organization’s needs.
In this in-depth blog post, we’ll explore how you can leverage the QuickBooks connector in Power BI to build custom solutions that cater to your unique business needs. We’ll walk through a real-world example of a client who sought to streamline their monthly financial reporting process, and how we used Power BI to create a tailored solution that saved time, improved accuracy, and enhanced their decision-making capabilities.
Let’s dive into a real-world example of how we used Power BI and QuickBooks connector to create a custom solution for a client. Our client, a restaurant group operating 12 cafe locations across a major metro area was responsible for preparing a comprehensive monthly financial report for their board of directors. This report, which included a balance sheet, income statement, and various performance metrics, was previously created manually in Excel and then exported to PDF for distribution.
The client approached us, seeking a more efficient and automated solution that would streamline their monthly reporting process. They wanted to leverage their existing QuickBooks data to generate a visually appealing, interactive report that could be easily exported to PDF or PowerPoint for their board meetings.
To address the client’s needs, we developed a custom Power BI solution that seamlessly integrated with their QuickBooks data. The solution was divided into two main components: a visual-focused dashboard and a table-based report.
The visual dashboard was designed to provide a high-level overview of the client’s financial performance. Using Power BI’s intuitive drag-and-drop interface, we created a series of interactive visualizations that showcased key metrics, such as:
By leveraging Power BI’s powerful data visualization capabilities, we were able to transform the client’s financial data into a visually compelling and easily digestible format. The dashboard allowed the client to quickly identify trends, spot anomalies, and make informed decisions based on the insights presented.
While the visual dashboard provided a high-level overview, the client also required a more detailed, table-based report to satisfy the needs of their board of directors. To address this, we utilized Power BI’s Report Builder feature to create a comprehensive financial report that included the following sections:
We were able to seamlessly integrate the client’s financial data into the report, ensuring that the information presented was accurate, up-to-date, and aligned with their existing accounting practices.
Current Pain Points:
These limitations reflect common challenges of overburdened executives in thriving small companies. Let’s explore overcoming them by tapping the information stored within QuickBooks Online.
The high-level architecture of our business intelligence solution comprises:
By integrating these components, we can build an automated reporting suite providing complete visibility into operational and financial KPIs. This frees up the management team to focus exclusively on analyzing the business, not just compiling data.
The first step is establishing connectivity between the QuickBooks company file and Power BI, handled seamlessly via the certified QBO connector.
Within report settings in Power BI Desktop, we link to the cloud accounting system using OAuth client credentials. This grants read-only data access to import into Power BI datasets.
The connector interface provides point-and-click configuration such as:
This makes extracting transaction information simple without needing to export reports or build CSV templates in QuickBooks.
Now let’s examine the key tables we use for this restaurant analytics solution:
Combining these provide comprehensive coverage of financial, customer, product and vendor activity within one cloud database accessible through the connector.
With easy access now established into the QBO tables, we next structure the imported data for analysis
With the foundations of a clean, unified data model in place, we now create graphical reports and dashboards designed specifically around the needs of key user personas.
For the CEO, we build an Executive Dashboard answering:
For the Operations Manager we design a Store analysis dashboard showing:
The Area Store Managers get tailored Individual Location Dashboards monitoring:
In total, we construct over 30 visual reports spanned across interactive dashboards personalized for information needs of decision makers at the head office and store levels.
Advanced BI techniques like drill downs, decomposition trees and linkage highlighting are utilized within dashboards to enable diagnosis of factors influencing KPI outcomes. This equips executives with insights to pinpoint opportunities for improving performance at granular levels.
Alongside interactive dashboards, many stakeholders depend on familiar and standardized reporting packs in Word, PDF or PowerPoint formats. Executives often need to distribute or present large volumes of data in board meetings or shareholder communications.
It is unfeasible to expect these users to export and format 30 different visual charts. Instead, Power BI Report Builder is leveraged for automating personalised reporting packs including:
CEO Board Pack
Area Manager Standard Reports
Inventory Controller Package
Reporting packs are designed inside report builder templates aligned to each manager’s preferences for layout formats, cover pages, visual styling, and custom calculations present the data narrative professionally.
The pre-built reports dynamically connect to the real-time QBO datasets inside Power BI. As fresh data from each accounting period updates the linked dataset, reports remain accurate without needing manual regenerations.
We configure subscriptions against the Report Builder templates to get these packs automatically delivered to recipients email inboxes. Schedules are set for monthly, weekly or even daily distributions. Conditional alerts trigger for anomalies like:
This automates an entire suite of KPI monitoring for the management team while removing manual report creation workloads through the flexibility of Power BI.
With the data connections configured, dashboards designed and reports automated − the last phase is deployment to relevant audiences for consumption.
Inside the Power BI Service, the analytics assets are published into a Content Hub creating a central collaboration portal for end users.
Bricks enable bundling together dashboards and underlying datasets for access control distribution.
We utilize row-level security filtering to limit sensitive financial figures from frontline staff not needing full system visibility. Auditing monitors artifact access where required.
Embedding analytics content into relevant business systems is also achievable using Power BI APIs. Screens on the Restaurant Point-of-Sale system highlight real-time results empowering floor staff to influence outcomes.
For external communications, CEO can export presentations from PowerPoint plug-in to share the latest performance with investors or board members.
Ubiquitous mobility is enabled as executives can monitor reports remotely across any device. The Power BI mobile app provides data on-the-go with iOS and Android compatibility.
Through these frontline staff engagement tactics combined with mobility and extensibility options, Power BI facilitates data consumption down to moments that trigger actions.
While this current build delivers immense value revealing insights hidden within QuickBooks data, additional functionality can be swiftly activated as the client’s needs expand.
Some foreseeable enhancements include:
Append New Data Feeds
As the restaurant group acquires new franchises, promptly onboard new locations into the Power BI solution for accurate consolidated visibility by augmenting sourcing pipelines.
Extended Granularity
Incorporate actual food production volumes from Restaurant Management System databases into Power BI for comparing against ingredient consumption rates and identifying process waste opportunities.
Enhanced Predictions
Build forecasting models applying machine learning to estimate future customer demand and inventory requirements that support proactive management.
The success of this custom Power BI solution for the client is a testament to the power of integrating QuickBooks data with the robust reporting and analytics capabilities of the Power BI platform.
By leveraging the QuickBooks connector, businesses can unlock a world of possibilities, transforming their financial data into actionable insights that drive strategic decision-making and operational efficiency.
Remember, the key to unlocking the full potential of QuickBooks data lies in the ability to transform it into meaningful, actionable insights. With the right Power BI solution, you can streamline your financial reporting, improve decision-making, and drive your business forward.
