Use QuickBooks to Analyze your Business Purchases


As you begin to analyze your business operations more closely, you may want to use a QuickBooks report to breakdown your purchases.

If you are using QuickBooks for property management, you may be curious to know which projects or items were completed by which vendor. The purchases reports break down purchases by vendor and item.

The Purchases by Vendor Summary report shows the total value of your purchases from each vendor. It calculate the totals from bills, checks, and credit card charges. The Purchases by Vendor Detail reports lists each transaction for each Vendor. This report includes the form type, date, memo, item, quantity, and a more detailed record of the amount owed and paid.

The Purchases by Item Summary report shows the quantity purchased of each item as well as the dollar value of the purchases. This report is valuable if you would like to compare prices of different items and how many you purchased. The Purchases by Item Detail report lists each transaction by item. It lists the vendor the item was purchased from, the quantity purchased, the cost price, total amount due, and the current balance.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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