Without leaving FreshBooks, see your total profitability on a simple, color-coded revenue streams graph.
Last month we launched one of the most requested features to date: Other Income. And while it gives you a single place to record your revenue, how do you get insights from the numbers? Ask an accountant? Hold your finger to the wind?
The new Revenue Stream graph shows valuable insights about your profitability, all at-a-glance. With this handy tool, you’ll be able to make informed decisions in order to grow your business and diversify your income, all on your own terms.
Revenue Streams Graph: What is It?
In addition to being the newest graph on your Dashboard, this tool in invaluable when it comes to future-proofing your business. After you’ve logged some Other Income in FreshBooks, use this graph to:
- Know exactly where your invoice and non-invoice revenue is coming from
- Easily spot trends so you can accurately plan for growth
- Make more informed decisions about how to diversify
Instead of handing your data over to an accountant, the Revenue Streams graph puts the power back in your hands. And making these strategic decisions seem simple is just another way FreshBooks makes accounting uncomplicated.
Why is It Important for My Business?
If you’re not already diversifying your income, don’t panic. It doesn’t have to be a daunting task, in fact you can take baby steps:
- Photographer? Think about selling your images to a stock website.
- Already selling things on Etsy or Shopify? That counts.
- Picked up a last-minute cash job? You can log that as Other Income.
When you have a number of different income sources, your business is more secure and bound to last.
Ok so you’ve recorded that revenue, but what now? Head to your Dashboard and check out the Revenue Streams graph – a snapshot of your full income.
From here, you’ll be able to know where you should spend your time in order to grow your business. No flipping between apps, no outside help needed.
How It Works
Step 1: Log your Other Income as accurately as possible. That way, the insights on your graph will be up-to-date and meaningful.
Step 2: Once your Other Income is logged, head to your Dashboard to see the graph. Clearly broken into categories, it helps you plan for your business’ future at-a-glance.
Now that you can easily track your Other Income in FreshBooks, you’ll be able to get a more accurate snapshot of your full revenue. But when you need to turn your data into insights, the Revenue Streams graph puts you in the driver’s seat of your business, no accountant needed.