Are you utilizing QuickBooks to identify and maintain your target market? Consider assigning a “customer type” to each of your customers to identify areas where you can focus your marketing. For example, do you want to determine whether most of your sales come from a certain geographic area or demographic? Use the “customer type” to generate reports of sales and receipts that will help you determine what is working best.
In addition to tracking customers by customer type, you can use the QuickBooks class tracking function to better identify the profitable and not-so-profitable areas of your business. A carpet retailer may install and sell carpet. Class tracking might allow them to track retail sales versus installation sales and costs. For businesses that track large jobs, class tracking is a great way to see which customers provide the most profits. Breaking down profit by class is a great decision making tool for any business owner!