If you want to maximize the effectiveness of your QuickBooks reporting, you can do a few things:
- You can control the columns you include in your financial report.
- You can automate your expense management reporting system.
- You can export your reports to Excel.
Record Sales in QuickBooks
The key to recording Sales in QuickBooks for optimal reporting is to use the right accounting software for your business. Many accounting tools are available for small business owners, and many sellers initially opt for Intuit QuickBooks. However, there are better options.
These apps can help you automate your Amazon business’s inventory management and accounting processes. They also provide accurate financial reports.
While Quickbooks can quickly handle your revenue, there are still some tasks you’ll need to do manually. You’ll want to track sales tax, fees, and payouts, as well as keep track of your gross and net sales. And, of course, you’ll need to make periodic bill payments.
You’ll need to create a customer ledger to record sales in QuickBooks for optimal reporting.
Suppress Account Numbers
Many tools are available to you when it comes to optimizing your reporting. The best one is using an auditing system to ensure your numbers are correct. However, this may need to be revised for some users. You can find a quick solution to eliminate those pesky little amounts with Quickbooks desktop pro.
One of the most basic functions of QuickBooks is assigning account numbers to your accounts. You can use as few as two or three numbers. It is not a requirement, but it makes things much more manageable.
In addition to assigning the numbers above, you can customize the Chart of Accounts. This is especially useful when it comes to moving around accounts and sub-accounts. For example, you can create a hierarchy of related sub-accounts.
It would help if you also considered using the Chart of Accounts to highlight your company’s best performers. Likewise, you can utilize the same tool to eliminate duplicates. There are also tools to help you migrate financials from one year to the next.
For example, you can purchase a tool that will enable you to export your list to Excel. Once you have the data, you can import it back into QuickBooks.
Control Columns in Financial Reports
QuickBooks Financial reporting allows users to control columns within their financial reports. It allows for more detail on the customer, period and vendor. You can also control the font, style and order of the information.
Depending on your needs, you can control the width of each column. This is done by dragging diamonds in the column width area. There are several options, including Specific, Standard and Narrow. If you select several years to display, you can specify the number of decimal places to show.
In addition, you can select whether to display a percentage or a total amount. You can also add a currency symbol in the header of the column. For example, if you are reporting a company’s profit and loss statement, you can show a percentage of the total expense or income.
Once you’ve selected a column, you can customize it using the Columns drop-down list. These choices can refine your data.
You can also add new columns to an existing custom report. The first step is to choose which type of report you’re creating.
Export Reports to Excel
Exporting reports from QuickBooks to Excel can be a great way to gain valuable data. There are several ways to do this, but one of the easiest is to use the Automated Export function. It will take care of all the work, and the exports will be processed promptly.
The standard procedure is to select the appropriate report from the Reports menu, then tap on the Export button. A pop-up window will appear with a selection box. Select the smallest of the packages to get started.
The Auto-Fit function allows the width of your Excel columns to adjust to the size of your data, displaying all the necessary information. This is especially useful for long reports.
The Advanced export feature will allow you to format the data in a specific way. You can also save your customizations for later use.
Another cool trick is the Freeze panes function, which will keep the headers of your reports visible for longer. Lastly, there is the Auto Outline function, which will collapse and expand sections of your accounts.
Automate Expense Management Reporting System
Consider an automated expense management reporting system if your business needs to streamline its expense management. This can help you eliminate mistakes and fraud and make your budgeting more accurate.
Automated expense management reporting can reduce errors and eliminate manual processes, such as data entry. It can also help your employees get reimbursed faster.
One of the essential features of an automated expense reporting system is a digital audit trail. It can protect your company from data leaks and fraudulent claims. With this system, you can set up rules and notifications that notify you when an expense is submitted. You can also choose how many approvers are needed for the process.
Another feature of an automated expense management reporting system is a centralized database that enables you to track spending in real-time. Your employees can submit their expenses directly to QuickBooks. Then, the bookkeeper can reconcile the transactions.
You can also add payment cards to your expense reporting system, which makes the process more secure. Some of these systems allow you to create cash advances for your employees.
