Reports and Graphs Can Help You

Posted on July 1, 2014 by

It is the goal of this column to answer questions about QuickBooks and how it is used in the REI arena. Knowing how to record transactions in the proper way and have your set of books in good shape when it comes time for taxes. It is our intention to do this with you, the members, submitting questions to, and getting answers here in this column.

Q: How can Reports and Graphs Help me in my Business?

A: Reports and graphs give you insight into your finances; they’re two of the most important benefits of tracking your data in QuickBooks.

Often, people’s perceptions of their business profitability don’t match the facts. If you enter your data in QuickBooks, but don’t take the time to analyze the data, your business decisions are based on incomplete knowledge. Reports let you summarize your financial data so you make decisions based on analysis of the numbers.

Reports give you the bottom line—you can see exactly how profitable your business is. If it’s not doing as well as you’d hoped, you can create reports that show you which areas need improvement. QuickBooks has dozens of preset reports, but if you have specific reporting needs, you can customize any QuickBooks report to show exactly the data you want. And if you’re interested in getting quick information, you can use a QuickReport that lets you summarize information from your lists, forms, or registers with one click of a button.

Some people find it easier to see a visual picture of their financial data. If you’re interested in learning more about trends or patterns in your business data (for example, what proportion of your income comes from consulting services as compared to product sales), QuickBooks offers six types of QuickInsight graphs.

Note: Some versions of QuickBooks® include additional reports that are not available in all other versions.

Q: What is a QuickReport?

A: One of the fastest ways to see a report on your QuickBooks data is to create a QuickReport. QuickReports are predesigned reports that give you information about the items you’re currently viewing on screen. Whenever you have a list, a register, or a form displayed, you can click a button to have QuickBooks create a QuickReport.

Q: When would I use a QuickReport?

A: Suppose you’re viewing the Vendor list in the Vendor Center and you want to see a history of all transactions for a certain vendor. Select the vendor’s name, then click the QuickReport link at the top right section of the window. You’ll see a report listing information about each bill for that vendor. You can run a QuickReport in any list, even the Chart of Accounts to see details of activity or help you find a certain transaction.

Karen BershadKaren Bershad is The Small Business Advisor. Most small business owners have a challenge handling all the different areas of running a business. The accounting can be a challenge, particularly if the software seems overwhelming. The Small Business Advisor is what you may need to get you to the next level of your business. We work at your office or provide off site assistance in getting things under control by providing a wide variety of services that are specifically for the small business.

Contact Karen Bershad

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