QuickBooks provides you various built-in financial reports that allow you to study the health of your business with a different perspective. Additionally, you also get the option to customize reports customize the financial reports depending on your business requirements. This article will help you to customize company and financial reports in QuickBooks Desktop. However, you can connect with our QuickBooks Support department to get a detailed procedure about customizing your reports.

The articles in this series help you:

The articles in this series help you:

The available sections and filters are different for every report or group because each of them takes info. You need to understand the concept of source and target which is very important while customizing reports.

Profit & Loss And Balance Sheet Detail Reports

QuickBooks comes with various pre-custom reports that can be helpful for you in analyzing your business. Some of the most common reports are as given below:

Profit & Loss Detail Report

In this report, the transactions reports are displayed in year-to-date for each income and expense account instead of totals only, as in the P & L summary report.

By default:

  • It shows the adjust column that indicates if an account had manual adjustments or modifications made in it.
  • It is collapsed; that means that every item consist of multiple amounts whereas QuickBooks merge the amounts into a single amount. When you shorten the report, it’ll be easy to print the reports.

Note: The current fiscal year is the default date range but you can also show profit & loss for a different date by selecting a different date range from the Dates drop-down.

If you want to run the report then you have to go to the Reports > Company & Financial > Profit & Loss Detail.

Balance Sheet Detail Report

It is a detailed version of the Balance Sheet Standard report. The report displays the initial balance at the beginning of the last month, transactions mentioned in the account for this month to date and the ending balance.

This report calculates the value of your business by subtracting the entire amount that your company owes and from everything it owns. The shown result will tell about the health of your company.

By default:

  • It shows the adjustment columns that tell you if an account had some manual modifications made in it.
  • It is collapsed; that means that every item consist of multiple amounts whereas QuickBooks merge the amounts into a single amount. When you shorten the report, it’ll be easy to print the reports.

If you want to run the report then you have to go to the Reports > Company & Financial > Profit & Loss Detail.

Foreign Currencies On Profit And Loss Or Balance Sheet Report

Note: Right-now, QuickBooks is only capable to create a Balance Sheet and a Profit & Loss report using the home currency. Transactions through foreign currencies get converted into their corresponding US dollar amounts on these reports.

The summary reports allow you to select to show amounts in your home currency or in foreign amounts.

  • A/R Aging
  • A/P Aging
  • Customer Balance Summary
  • Vendor Balance Summary
  • Sales by Customer Summary
  • Purchases by Vendor Summary (if purchase orders are turned on)

Follow the below mentioned steps in order to modify the default currency for any of the summary reports:

  • Click on Customize Report.
  • From the Display tab, select Display amounts in section:
    • Select to show the amount in Home Currency only or The transaction (foreign) currency.
    • Click on OK.
  • Select Memorize to save the report.

Multiple Year Profit & Loss Comparison Report

Perform the below-mentioned steps in order to create a Profit & Loss report that shows yearly data differentiate by column to make comparison easy:

  • From the Reports menu, go to Company & Financial > Profit & Loss Standard > Customoze Report.
  • From the Display tab:
    • Provide the From and To date in their respective fields to the years you want to show on the report.
    • Select Year from the Display Columns By drop-down.
  • Click on OK.

Get QuickBooks Tech Support @ +1888-396-0208

The provided process should allow you to customize company and financial reports in QuickBooks Desktop. However, customizing reports can be a bit complex task so we recommend you to consult your accountant before doing any modifications in your reports. If you are facing any issue while customizing any of your reports then we recommend you to get in touch with us at our toll-free QuickBooks Support Phone Number +1888-396-0208 to get support for your issues. You can also connect with our QuickBooks Live Chat Support to chat with our QuickBooks ProAdvisors directly.

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Customize Company And Financial Reports In QuickBooks

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