Improve your revenue reporting with this QBO trick

For a free 30 day trial and 30% off for 12-months, go to https://www.financialtechlab.com/QBO Most businesses lump all income into one “sales” line — and that hides what’s actually driving revenue. In this video, we'll walk through how to use Products & Services in QuickBooks Online to break out service income properly so your P&L actually tells you something useful. We’ll cover how to map services to the right income accounts, create invoices that code correctly, and see the results directly on your Profit & Loss. This is one of the easiest ways to improve reporting without overcomplicating your books. Jump to: 0:00 Intro 2:16 Reviewing income accounts in the Chart of Accounts 3:33 Where to find Products & Services in QuickBooks 3:58 Creating a retainer service item (step-by-step) 6:27 Mapping services to the correct income account 7:07 Creating an hourly consulting service 7:59 Building an invoice using service items 8:50 Viewing the results on the Profit & Loss 9:48 Best practices for structuring service revenue Here are some of the tools I trust and recommend to help you manage your business finances more effectively. These are affiliate links, which means I may earn a small commission if you use them—at no extra cost to you. Thank you for supporting the Clara CFO channel! 🔢 QuickBooks Online – 30% Off for 12 Months plus 30-day Free Trial https://claracfo.com/QBO Get organized with the most popular small business accounting software. 🏦 Relay Bank – Get a $100 Bonus https://www.claracfo.com/relay Modern banking designed for business owners. Sign up and deposit $100 to claim your bonus. 👥 Gusto Payroll – Earn $100 https://claracfo.com/gusto Run payroll and receive a $100 reward—perfect for growing teams. 💰Monarch Money – Extended 30-Day Free Trial https://claracfo.com/monarch Smart personal finance software for entrepreneurs and families. 📊 RC Reports – Get $50 Off a Compensation Report https://claracfo.com/RCReports Ensure your S-Corp salary is IRS-compliant with a professional comp report. Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.