QuickBooks has a large amount of built-in reports designed to help you run your business. All these different kinds of reports can get quite confusing for the average QuickBooks user, so we have a video detailing many of the reports QuickBooks has to offer, as well as the reports you should pay close attention to. Though there are a lot, we recommend you run each of these reports at least once to see what information comes up. You never know what you could find to be important information in QuickBooks, or possibly what needs to be cleaned.
QuickBooks set itself apart from other software like Great Plains or MAS90 by giving us so many stock reports. Those software now do have more capabilities, but not close to the ease of using QuickBooks reporting. Most of these reports below can be modified, filtered, switched between cash or accrual basis, summarized or detailed. Here are a list of the standard reports that come built into the program:
Under Customers and Receivables:
- A/R Aging Summary – See who owes you money and how far past due they are
- A/R Aging Detail
- Customer Balance Summary
- Customer Balance Detail
- Open Invoices
- Collections Report
- Average Days to Pay Summary
- Average Days to Pay Detail
- Accounts Receivable Graph
- Unbilled Costs by Job
- Transactions List by Customer
- Customer Phone List
- Customer Contact List
- Item Price List
Under Sales:
- Sales by Customer Summary – Who are your best customers?
- Sales by Customer Detail
- Sales by Item Summary – What is your best product or service?
- Sales by Item Detail
- Sales by Rep Summary – Who is your top sales person?
- Sales by Rep Detail
- Sales by Ship to Address
- Sales Graph
- Pending Sales
- Open Sales Orders by Customer – What is outstanding that needs to be shipped?
- Open Sales Orders by Item
Under Jobs, Time and Mileage:
- Job Profitability Summary – Highest customer sales doesn’t always translate to most profitable
- Job Profitability Detail
- Job Estimates vs. Actuals Summary
- Job Estimates vs. Actuals Detail
- Job Progress Invoices vs. Estimates
- Item Profitability – Best selling item doesn’t always mean most profitable
- Item Estimates vs. Actuals
- Profit and Loss by Job
- Estimates by Job
- Unbilled Costs by Job – You can see what job costs you need to bill out
- Open Purchase Orders by Job
- Time by Job Summary
- Time by Job Detail
- Time by Name
- Time by Item
- Mileage by Vehicle Summary
- Mileage by Vehicle Detail
- Mileage by Job Summary
- Mileage by Job Detail
Under Vendors and Payables:
- A/P Aging Summary – Who do you owe money to and when is it due?
- A/P Aging Detail
- Vendor Balance Summary
- Vendor Balance Detail
- Unpaid Bills Detail
- Accounts Payable Graph
- Transaction List by Vendor
- 1099 Summary
- 1099 Detail
- Sales Tax Liability
- Sales Tax Revenue Summary
- Vendor Phone List
- Vendor Contact List
Under Inventory:
- Inventory Valuation Summary – What do you have on hand and what is the value? You want to constantly be checking this report if you have inventory.
- Inventory Valuation Detail
- Inventory Stock Status by Item
- Inventory Stock Status by Vendor
- Physical Inventory Worksheet – I recommend taking out the quantity on hand column before turning this over to your counters.
- Pending Builds – Do these need to be marked as final? Do you need to order more parts?
Under Banking:
- Deposit Detail
- Check Detail – Quick review of check runs
- Missing Checks
- Reconciliation Discrepancy – This is super important if your beginning balance on your reconciliation does not match the ending balance from the previous month.
- Previous Reconciliation
Budgets and Forecasts
- Budget Overview
- Budget vs. Actual
- Profit & Loss Budget Performance
- Budget vs. Actual Graph – Remember you can total by year on this report too if you don’t like the lengthy monthly view.
- Forecast Overview
- Forecast vs. Actual
Also, you should have an “Industry Specific” report list if you have QuickBooks Premier or QuickBooks Enterprise (unless you chose General Business during installation).
