Understanding Reports in QuickBooks

Understanding Reports in QuickBooks

One of the benefits to using QuickBooks software are the reports included with the software. It takes the entered transactions and organizes it into meaningful business data. How can these reports help you and your business? Understand these reports and understand where your business stands financially.

I will explain what these reports display and how you can use each report for your business.

– Company & Financial

  • Profit & Loss reports
  • Income & Expense reports
  • Balance Sheet reports
  • Cash Flow reports

– Customers & Receivables

  • A/R Aging reports
  • Customer Balance reports
  • Accounts Receivable reports
  • Billable Costs reports
  • Customer Contact reports
  • Item reports

– Sales

  • Sales reports
  • Open Sales Orders reports

– Jobs, Time & Mileage

  • Job reports
  • Mileage reports

– Vendors & Payables

  • A/P Aging reports
  • Vendor Balance reports
  • Accounts Payable reports
  • 1099 reports
  • Sales Tax reports
  • Vendor Contact reports

– Purchases

  • Purchases reports
  • Open Purchase Orders reports

 Inventory reports

– Employee & Payroll

  • Payroll reports included with Accountant version
  • Payroll reports
  • Workers Comp reports
  • Employee contact reports

– Banking

  • Deposits & Checks reports
  • Reconciliation reports

– Accountant & Taxes

  • Trial Balance reports
  • General Ledger
  • Audit reports
  • Accounts & Fixed Assets reports
  • Income Tax reports

– Budgets & Forecasts reports

– List reports

– Industry Specific Reports

 Contributed Reports (NEW in 2012)

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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