Reports

Preview · ~39 min read · from QuickBooks® Online Step-by-Step

This chapter starts with the different search features that allow you to locate transactions. Then we’ll dive into QuickBooks® Online reports to get the information you need to make critical business decisions.

In this chapter

• Finding Transactions
• Types of Reports
• Cash vs. Accrual Reporting
• The Reports App
• Accounting Reports
• Profit and Loss Statement
• Statement of Cash Flows
• General Ledger
• Trial Balance
• Business Management Reports
• Customer Contact List
• Vendor Contact List
• Accounts Receivable and Accounts Payable Reports
• Sales Reports
• Accounting Agents AI
• Customizing Reports
• Saving and Viewing Reports
• Creating Management Reports
• Printing Reports
• Exporting Reports to Spreadsheets
• Do It Yourself: Reports

Chapter review: Reports, analysis & the QBO reporting toolkit

11 practice questions. The answers are in the book.

1. What are the two major types of reports in QuickBooks® Online?

   • Register and List.
   • Monthly and Annual.
   • Accounting and Business Management.
   • Balance Sheet and Profit and Loss.

2. Customize any report to:

   • Add or delete columns or apply filters to a report.
   • Change the width of columns on the report.
   • Print the report on blank paper.
   • Memorize the report for future use.

3. To create a report that lists each of your vendors along with their address and telephone information:

   • Display the Vendor Contact List.
   • Open the Search window and do a search for vendors and the corresponding address and phone numbers.
   • Customize the Vendors list.
   • You must create a Customized Report to see this information.

4. In order to analyze the profitability of your company, you should:

   • Only do an analysis if the company is profitable.
   • Create a Profit and Loss report.
   • Review all detailed transaction reports.
   • Create a Balance Sheet report.

5. Which statement is false? You may analyze your income and expenses for a given period:

   • By class.
   • By customer.
   • By customer location.
   • For the whole business.

6. Which report shows monies owed to your company by customers?

   • The Balance Sheet report.
   • The Collections Report.
   • The Accounts Payable Aging report.
   • The Customer Contact List report.

7. The Profit and Loss report shows which of the following:

   • Assets, Liabilities, and Equity accounts.
   • Checks written for the period.
   • Income, Cost of Goods Sold, Expenses, Other Income, and Other Expenses.
   • Accounts Receivable increases for the period.

8. If the Profit and Loss by Class report has a Not Specified column:

   • There is an error in the filters on the report.
   • You must refresh the report.
   • You should eliminate the column using the Customized window.
   • Some of the transactions for the period were not assigned to a class.

9. You can export Reports to:

   • Microsoft Excel.
   • Microsoft Word.
   • Other accounting software.
   • You cannot export reports.

10. Which is the purpose of the Filters?

    • Filters allow you select the columns on a report so that you can analyze specific areas of your business.
    • Filters allow you to change how reports total and subtotal.
    • Filters allow you to choose specific accounts, names, or products/services to include on a report.
    • Filters allow you to modify the date range on most reports.

11. The Print Dialog Box feature does not:

    • Allow you to print to a PDF.
    • Keep groups together on one page.
    • Look the same on every computer.
    • Repeat row or column headings on multiple pages.