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Reports

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  1. Reports 2014

  2. Topics • Types of Reports • Cash Versus Accrual Reports • Accounting Reports • Business Management Reports • QuickBooks Graphs • Building Custom Reports • Memorizing Reports • Processing Multiple Reports • Finding Transactions • Exporting Reports to Spreadsheets

  3. Types of Reports • Two major types of reports in QuickBooks: • Accounting Reports • Business Management Reports

  4. Accounting Reports • Contain information about transactions and accounts • Example: The Profit & Loss report is a summary report of all transactions coded to income and expense accounts for a specified period of time

  5. Business Management Reports • Used to monitor different activities of a business to help plan workflow and review transactions that have already occurred • Provide critical information that you need to operate your business • Example: The Customer Contact List report shows addresses, phone numbers, fax numbers, and other information about Customers

  6. Cash vs. Accrual Reports • Set default for all summary reports to the cash or accrual basis • You can always switch between cash and accrual reports by modifying reports

  7. Accounting Reports • Profit & Loss Standard • Profit & Loss by Class Report • Profit & Loss by Job Report • Balance Sheet • Statement of Cash Flows • General Ledger • Trial Balance • Voided/Deleted Transactions

  8. Profit and Loss Report

  9. Analyzing the Profit & Loss Report • The first section shows the total of each of your income accounts • The next section shows your Cost of Goods Sold accounts (costs of the products you sell) • At the bottom of the report, shows Net Income – the amount of your revenue less your Cost of Goods Sold and your operating expenses

  10. Profit and Loss by Class • Select the Reports menu, select Company & Financial, and then select Profit & Loss by Class • Totals for each Class are displayed in a separate column

  11. Profit and Loss By Job • Divides Profit & Loss report into Customers or Jobs, also called the Job Cost report • Allows you to see your profitability for each customer or job and spot pricing problems, as well as costs that are out of the ordinary

  12. Balance Sheet • Shows financial position, as defined by the balances in each of your asset, liabilities, and equity accounts on a given date

  13. Statement of Cash Flows • Shows detail of cash on the Balance Sheet • Provides information about investing and financing activities, such as purchasing equipment or borrowing

  14. General Ledger • Shows you all of the activity in all of your accounts for a specific period • Can omit accounts with no activity and zero balance by selecting In Use under Advanced

  15. Trial Balance • Shows the balance of each of the accounts as of a certain date • The report shows these balances in a Debit and Credit format

  16. Voided/Deleted Transactions Report • Shows a list of voided or deleted transactions • Includes when transactions were voided or deleted • The standard version presents the transaction in a summary format

  17. Business Management Reports • List Reports: • Customer Phone List • Vendor Contact List • Item Price List • Banking Reports: • Check Detail Report • Accounts Receivable and Accounts Payable Reports: • Collections Report • Customer Balance Detail Report • Vendor Balance Detail Report • Sales Tax Liability Report

  18. List Reports • Select the Reports menu, then select List, and then select: • Customer Phone List • Vendor Contact List • Item Price List • These reports show the corresponding listing

  19. Check Detail Report • Shows the detailed expense account information about transactions associated with a Bill Payment • Useful for tracking Accounts Payable or Payroll

  20. Collections Report • The Collections Report shows each customer’s outstanding Invoices along with the customer’s telephone number

  21. Customer Balance Detail Report • Shows all transactions that use Accounts Receivable account, including Invoices, Payments, Discounts, and Finance Charges

  22. Vendor Balance Detail Report • Shows transactions that use Accounts Payable, including Bills, Bill Credits, Bill Payments, and Discounts

  23. QuickBooks Graphs • Shows your income and expenses by month as well as a pie chart showing summary of your expenses • You can view graph by account or customer

  24. Building Custom Reports • Use the Customize Report button to add or delete columns and change several other formats of the report • Use the Filters tab on the Modify Report window to narrow the contents of reports

  25. Memorizing Reports • After you’ve modified a report, you can memorize the format and filtering so that you don’t have to perform all of the modification steps the next time you want to view the report • Memorizing reports doesn’t memorize the data on the report, only the format, dates, and filtering • With your report displayed, click Memorize at the top of the report

  26. Report Groups • Report Groups allows you to combine several reports into a group, so that you can later display and/or print the reports in the group as a batch

  27. Processing Multiple Reports • Select the Reports menu and then select Process Multiple Reports • Select the group from the Select Memorized ReportsFromdrop-down list • If you don’t want to display or print all the reports in the group, click the checkmark (√) in the left column to remove it • Click Display to show the reports on the window or click Print to print all the reports

  28. Printing Reports • Click Print at the top of the window • Specify the orientation (landscape or portrait) and page-count • Fit report to 1 page(s) wide and Fit report to 1 page(s) high reduces the font size of the report so the width of all columns does not exceed page width

  29. Searching Transactions in Registers • Use the Search command in the Icon Bar • Searches fields in all Customers, Vendors, Employees and Transactions

  30. QuickReports • Information about a customer, vendor, or item • Generate QuickReports from account registers, forms, or lists

  31. Using QuickZoom • Convenient feature that allows you to see the detail behind numbers on reports • Double click to see more detail.

  32. Exporting a Report to Microsoft Excel • Exporting to Excel to modify reports • After exporting, you can update the report with QuickBooks data from within Excel

  33. Summary of Key Points • Types of Reports • Cash Versus Accrual Reports • Accounting Reports • Business Management Reports • QuickBooks Graphs • Building Custom Reports • Memorizing Reports • Processing Multiple Reports • Finding Transactions • Exporting Reports to Spreadsheets