Did you know it’s possible to create Power BI reports from QuickBooks Online data in just 5-10 minutes? All you have to do is to use a publicly available Power BI template.
Such a template allows you to visualize profit and loss, balance sheet, and cash flow while combining multiple accounts. The professionally designed layout requires no coding knowledge – simply connect your QBO data to a ready-made Power BI template.
In this article, we’ll walk through the template design and how to install it yourself in minutes. Read on to transform your QuickBooks data into interactive Power BI dashboards that provide valuable business insights.
An accounting Power BI template usually includes four visual tabs. They include:
Each section delivers key analytics while maintaining accounting structure and logic. Let’s explore it in detail.
The customizable P&L tab displays trends for income, net income, COGS, overheads and more. You can break down income and overheads by group and click to drill down into subgroup trends. This granularity helps pinpoint performance drivers and problem areas.
Filters allow you to analyze by cash or accrual method, year, quarter or month. You can compare across date ranges and accounting methods to reveal insights. If you connect multiple QBO companies, choose which companies to display individually or consolidated.
Cards summarize totals and percentage changes between periods for key metrics like net income. Visualize margins, cost management and more overtime.
The balance sheet tab visually tracks assets, liability and equity balances. See which transactions and activities drive changes to your financial position. Customize views by showing or hiding transaction line item details.
The tabular layout balances assets and liabilities with equity as required by accounting standards. This integrity check helps identify data issues before they affect reporting.
Cash flow visualization tab illustrates total increases and decreases by month. View operating, investing and financing activities to pinpoint positive and negative periods.
The ability to quickly see monthly cash timing enables better short term decisions. Identify seasonal dips to plan credit line needs, or peaks to optimize cash investing for growth.
Supplementary tables provide drilldowns of income statement and cash flow line items. Click plus icons to view granular breakdowns of each group as percentages of the whole.
The tabular formats complement visuals with alternate analysis perspectives. Tables also provide verification to ensure accuracy.
Below are simple step-by-step instructions to import this template and connect your QuickBooks Online data in just minutes:
The entire process takes just 5-10 minutes for fully interactive reports without manual data manipulation.
With your QuickBooks data now in Power BI, what insights can you unlock?
Which products drive the most profitability? How do margins compare by category, customer tier or geography? What’s the optimal inventory level to balance costs and revenue?
Analyze expense ratios across departments to identify waste. Which divisions generate the strongest returns on spending? Are certain accounts more efficient seasonally?
Evaluate cash conversion cycles by revenue source. How long does it take to collect invoices? How might this fluctuation affect borrowing needs? Monitor AR aging for revenue sustainability risk signals.
Finance Teams CFOs can better monitor liquidity positions with cash flow waterfalls. Faster insights to optimize balances, credit lines, debt decisions and more. Granular reporting also improves audits and compliance.
Segment customers, products and campaigns by profitability. Identify high margin drivers to double down on and loss leaders to eliminate. Perfect pricing and promotional strategies.
Fine tune inventory, purchasing and fulfillment to balance costs and revenue. Benchmark department spending for clearer budgeting. Enhance productivity.
Executives Spot high level trends plus drill down to transaction details. Flexibly filter for any business question with unified data. Assess performance daily instead of waiting for month end reports.
Using the right accounting template eliminates the headache of mapping QuickBooks data to produce analytical reports. Instead of wrestling with data structures, calculations and visual design, simply connect your books for professional Power BI dashboards in minutes.
Whether you need to analyze profitability trends, view cash flow timing, track balance sheet changes or solve any other business question – the flexibility is here. Handle it yourself or let us take care of the setup for you – either way, unlocking QuickBooks insights with Power BI has never been easier. The time and risk reduction is invaluable.
What analytics would provide the most value from your QuickBooks Online data? What other data sources could layer in for a complete view?
We’re happy to help implement custom reporting packages to serve your business intelligence needs.
