Reports

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

After reading this chapter, you'll be able to locate transactions using various search methods, generate and customize accounting and business management reports, and export reports to analyze your company's financial performance. The chapter covers the Reports App where you can access built-in reports organized by category, the Advanced Transactions Search feature for finding specific transactions by date, amount, contact, or reference number, and customization tools that let you save modified reports for quick access later. You'll also learn how to toggle between cash and accrual reporting bases and export reports to spreadsheets or PDF for further analysis.

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

12 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. You cannot create a QuickReport for:

   • The Chart of Accounts.
   • Products.
   • Services.
   • Customers.

4. 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.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

10. You can export Reports to:

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

11. 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.

12. 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.