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Tuesday Tech Tip, March 18, 2014 Print E-mail
Tuesday, 18 March 2014 12:49

Using Key Performance Indicators in Sage and QuickBooks

Earlier this month we discussed using Key Performance Indicators (KPIs)  to look deeply into your business processes.  Now we can use your existing accounting software to ask some of those KPI questions.  The top two financial software packages in use by small and medium businesses are Sage and QuickBooks. 

If you are using Sage, there are a couple of tools that can help you begin your accounting assessment.  The standard one is called Excel Integrated Reporting, which is part of the Sage Line 50 version 13.  The only hard part is setting up the connection (in your older versions of Sage.)  However, there is a great instructional on how to set up the connection using open database connectivity and connecting the excel sheet to the database.  There are some canned reports that will reveal many of the answers you are asking.  To get started, check out: http://www.slideshare.net/webdesignsrilanka/getting-started-with-excel-integrated-reporting-for-sage-line-50

Another reporting mechanism for Sage comes from domorewith.com, an accounting developer interested in helping people get the most out of their software.  He developed a Sage Dashboard that can be integrated into your Sage 50 product.  You can watch how it is used here: http://www.youtube.com/watch?v=t8IJrsTnprg and you can request a copy to install by emailing your request to: This e-mail address is being protected from spambots. You need JavaScript enabled to view it "> This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

As for the QuickBooks software, take a closer look at QuickBooks standard reports to see what you are overlooking as far as data collection.  You may see other pieces of business data that you want to start tracking.  There are many other reports that are developed by outside companies to delve into the KPIs of your company.    A comprehensive set of tools comes from BizTools.  You can take a closer look at what they offer here:  http://www.sleeter.com/blog/2014/02/quickbooks-business-analytics-biztools/.

Keep asking those questions of your business, and look into the tools you already own, but may not be putting to thorough use.

 


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