Which Reports in QuickBooks shows the activities of the company such as sales and expenses? A) The Cashflow Analysis B) The Balance Report C) The Profit and Loss ReportSubject:BusinessPrice: Bought3 Show
Which Reports in QuickBooks shows the activities of the company such as sales and expenses? A) The Cashflow Analysis B) The Balance Report C) The Profit and Loss ReportTime Activities by Employee Detail Exploring Standard Reports Now that you've seen the reports that QuickBooks has to offer, you can start exploring them. To start viewing any report, click on its title. You can also search for a specific report by clicking in the search bar and typing in part of its name. When it shows up under the search box, click on it to view the report.  [Figure: Using the Search bar] Once you click on the report, it will open up in a separate window. The top part of the window will allow you to customize the report, while the bottom part will show you the actual report. [Figure: A Balance Sheet report] Customizing a Report The default versions of each report you view may not have the exact information that you are looking for. Or, they could be too complicated for the audience that you must present the report to. To address this, you can customize a report to your liking. At the top of the report's screen, you can first set the Report Period. You can choose from preset time periods, or enter the dates exactly. The default time-period is This Year-to-Date. Other preset report periods include: All Dates, Today, This Week, This Week-to-Date, This Month, This Month-to-Date, This Quarter, This Quarter-to-Date, This Year, This Year-to-Date, This Year-to-Last-Month, Yesterday, Recent, Last Week, Last Week-to-Date, Last Month, Last Month-to-Date, Last Quarter, Last Quarter-to-Date, Last Year, Last Year-to-Date, Since 30 Days Ago, Since 60 Days Ago, Since 90 Days Ago, Since 365 Days Ago, Next Week, Next 4 Weeks, Next Month, Next Quarter, and Next Year. You can expand or collapse the top customization menu with the dropdown arrow under the Save Customization button. When expanded, you can see more options. [Figure: Expanding and collapsing options] The additional options here can change depending on the type of report that you run. Some things you can typically change include how you display columns by, whether to display columns or rows without values, whether to compare to another time period, and whether to use a cash or accrual accounting method. Once you have made your changes, click on the Run Report button to see the new report. You can also make changes to the generated report. Directly above the report is a menu bar that can change based on the type of report generated. [Figure: Options at the top of a report] The first thing you can do is expand or collapse the report. This will remove some layers of detail from your report if it is too long. You can experiment with this to see if it removes too much essential information. You can also change how the information in the report is sorted. The ways in which you can sort the data change by type of report. You can also decide if you want to sort in ascending or descending order. Clicking on the Add Notes text will open up a text box at the bottom of the form where you can add special notes about the report. [Figure: Adding notes to a report] Additionally, you can change the titles in the report. Clicking on the Edit Titles link will open up a window where every title in the report is editable. [Figure: Editing section titles in a report] The business name and report title are also editable if you click on the pencil icon that shows up when you hover near them on the report. [Figure: Editing the business name and report title] There are also four icons at the top right that allow you to email, print, save, or change settings. When you email, print, or save, it will use the report as you see it. So, if you have expanded or collapsed a section by clicking on one of the dropdown arrows by a section, it will use that view when performing the function. The settings icon will allow you to change various display settings based on the type of report that you have generated. Some things that you can change include the visible columns and the display density so you can save space. [Figure: Changing the report settings] You can also reorder columns on certain reports. Clicking this link will pop open a side panel where you can drag and drop to reorder the columns. [Figure: Reordering the columns] In addition to all the ways to customize that we've seen, you can also customize even more by clicking on the Customize button at the top. This will slide in a panel where you are given more customization options. These options are in four categories: General, Rows/Columns, Filter, and Header/Footer. [Figure: Further customizations] The General category has many of the same options regarding time periods and accounting method. Additionally, you can make choices about number formats such as to divide by 1000, not include cents, and how to show negative numbers. Negative numbers can have the negative sign before or after the number, or they can just be shown in parenthesis. [Figure: General customizations] In the Rows/Columns section, you can choose with rows and columns are viewable as well as in what order. This is the same menu as appeared before when reached through the gear-shaped settings icon above the report and then clicking on Reorder Columns. In the Filter category, you can check which data to filter out depending on the type of data in your report. Check the boxes for fields you want included in your final report. [Figure: Filtering out data] In the last category, you can change header and footer information. It includes not only the data, but also text alignment. [Figure: Customizing the header and footer] When you have finished customizing, click the Run Report button at the bottom to generate the report again. Saving a Customized Report After making all of your customizations, you can save your changes so that you don't have to redo them in order to get your settings again. To do so, click on the Save Customization button which is next to the Customize button. A window will pop up where you have some options for saving. [Figure: Saving a customized report] In this window, you can make a name for the report as well as organize it into a group. To make new groups, click on the Add New Group link. You can also share your settings with others. Click on the Save button to finish saving the customized report. Viewing a Customized Report You can view the customized report that you just made by going back to the Reports page and clicking on the Custom Reports tab. If you haven't created a customized report yet, the table will be empty. If you have already saved a customized report, you will see it in the table. The table has columns for the report name, who created it, the date range, when it gets emailed, and an action column for performing functions. The Action column has an edit function as well as a dropdown that lets you export as a PDF, export as Excel, or delete the custom report. [Figure: Viewing custom reports] You can view the customized report by clicking on its name. Editing and Scheduling a Customized Report to Be Emailed Clicking on the Edit link in the Action column will take you to a page where you can edit the report name, add it to a group, share with others, or set an email schedule. [Figure: Editing the customized report] Toggling the Set Email Schedule switch will open up a form where you can schedule the report to be emailed. You can set the recurrence to be daily, weekly, monthly, or twice a month. You can also set the days you want the emails to be sent and when to stop. [Figure: Options for automatically emailing the custom report] In the Email Information section, you can specify the recipients and enter a customized subject and message body. To also attach the report as an Excel file, check the box at the bottom. When finished, click the Save and Close button at the bottom. When you return to the Custom Report page, you will see that the Email column will have a schedule in it. Management Reports The third tab on the Reports page is for Management Reports. It has three predefined reports in the list: Company Overview, Sales Performance, and Expenses Performance. These reports each are a set of other reports that are presented with a cover page and table of contents so that they look professional. [Figure: Management reports] The Company Overview management report includes the Profit and Loss report and the Balance Sheet report. The Sales Performance management report has the Profit and Loss report, the Accounts Receivable Aging Detail Report, and the Sales by Customer Summary report. The Expenses Performance management report consists of the Profit and Loss report, the A/P Aging Detail report, and the Expenses by Vendor Summary report. Clicking on the View link in the Action column will open a Print Preview screen where you can see how the report looks. The other options in the Action column dropdown are to edit, send, export as PDF, export as DOCX, and copy. Customizing Management Reports To customize a management report, click on the Edit link from the Action column's dropdown. This will open a new form where you can customize various aspects of the report. There are categories for customizing the cover page, table of contents, preliminary pages, reports, and end notes. [Figure: Customizing a management report] For the cover page, you can choose from four different styles and also include your company's logo. Also editable are the cover title, subtitle, report period, who it was prepared by, when it was prepared, and a disclaimer. Variables that are supplied by QuickBooks Online appear with curly braces, such as {Company name}. For the table of contents, you can choose either enable or disable it from the checkbox at the top. You can also choose to rename your table of contents to something else. In the preliminary pages, you can add some extra pages to your report. A text editor appears here where you can apply some formatting to the pages you want to include. [Figure: Adding preliminary pages to a report] In the reports section, you can make some edits to the data shown in each report. Click on the pencil-shaped edit icon and you will see options such as changing the title, period, and whether to compare with the previous period or year, depending on the type of report. You can also remove the selected report from the management report by clicking the trash can-shaped icon. At the bottom of the screen, you can add more reports to this management report by clicking on the Add New Report link. That will add a new row where you can select your report from a dropdown menu. [Figure: Adding a new report to a management report] The last category is for adding end notes. Here you can decide whether or not you want to include this page. You can further include breakdowns of sub-accounts that are line items. You can also make a page title and fill in the page content in the text editor window. [Figure: Customizing end notes in the management report] Once you've finished customizing your management report, there are a few things you can do with it from the buttons at the bottom of the page. You can preview and print from the Print or Preview button at the bottom. If everything is filled in correctly, the report will load up as a PDF to print. At the bottom is an Advanced button where you can set a few more options. Clicking this will pop open a window where you can see fields which you can insert into your header or footer. Fields are variables enclosed in curly braces. The fields available by default are {Company name} and {Report end date}. [Figure: Advanced settings in management reports] Lastly, you can click the Save and Close button to finish with your management report. Your new management report will show up in the table under the Management Reports tab. [Figure: A saved management report] Conclusion In this article, you learned all about reports. You saw all the reports that are made available to you by default and also learned about customizing your own reports. You also saw how to retrieve management reports and customize those as well. What is a statement of activities in QuickBooks?A company's statement of activities is a record of transactions that happened over a period of time. While your client's balance sheet is a snapshot view of what its company is like at a certain date, a statement of activities summarizes what happened during a month, quarter, or full year.
What is balance sheet in QuickBooks?A Balance Sheet report gives you a financial snapshot of your company as of a specific date. It calculates how much your business is worth (your business's equity) by subtracting all the money your company owes (liabilities) from everything it owns (assets): Assets - Liabilities = Equity.
What are the 4 key reporting types in QuickBooks online?QuickBooks Report Types. Transaction reports.. List reports.. Summary reports.. Detail reports.. What is a financial statement in QuickBooks?Your profit and loss statement, also called an income statement, summarizes your business's financial performance over a period of time — daily, weekly, monthly, quarterly or annually. It is an important document because it tells you the company's biggest areas of expenditures and revenues.
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Which reports in QuickBooks shows the activities of the company such as sales and expenses?
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