The QuickBooks Statement Writer (QSW) is an add-on package to create professional financial statements that consist of Generally Accepted Principles. By using QSW, you will be able to create customized, professional financial statements from a company file. It syncs your changes in QuickBooks on a regular basis. Once you start a new statement, all your process is done in the Excel window. The QSW has three main parts and that are as follow:
- The QuickBooks file in which your data is stored.
- The Report Designer window that allows you to customize the report.
- Microsoft Excel shows the final output and lets you make modifications.
QSW can be used in QuickBooks Premier Accountant, Enterprise Accountant and Enterprise Solutions 12.0 and later. It was introduced as Intuit Statement Writer in the earlier QuickBooks versions.
Quick Guide To Procedures
QSW comes with various options to customize financial reports. It provides you a detailed overview of basic report creation:
- Open QuickBooks and click on QuickBooks Statement Writer icon which is located near the top of the window.
- Click on Design New Report in the opening dialog box.
- Open the Report Designer Screen 1 – Report Content, by using the navigation features for selecting each statement and documents you wish to add in the report and then manage your selections in your preferred order.
- In the Report Designer Screens 2 through 5, by using the features on all the screens for customizing the statements and documents added in the report. You can save a statement or the entire report in screen 5. You can re-use it as a template as well. Once you are done with the process, choose Create Report
- Review report on the Excel window. You can combine or separate any account rows as required.
- If the QSW Task Pane is not visible in Excel then you can restore it by clicking on the Show Task Pane from the Statement Write toolbar.
- For further customization of the statement in the report, choose any option from Row Properties or Column Properties in the Statement Writer pane.
- Modify the look from Report Properties. You can change fonts, layouts, sizes, headers and footers.
- Include additional statements or supporting documents in the report if required and then Save the report.
- Print the financial report. Before you print the report, you need to save the report as PDF first. For this, you need to select Save As and then PDF on the Statement Writer menu.
Set QSW Preferences
You need to set preferences by selecting the Statement Writer option and then select Preferences from the drop-down list. Now, choose the section for which you want to set preferences.
Default Save locations
You can specify the folder in which you want to save your financial reports and templates.
- Click on Browse and then choose the appropriate folder.
- Click on OK. Note: You should select local folders on your system’s hard drive in place of network ones.
- If you select a network folder as a default save location, then MS Office requires that you should have administrator rights to enable network folders for add-in programs like QSW. It is highly recommended to work with your network administrator.
- When you change your default save change locations to a network path, QSW automatically open a network troubleshooting for setting up correct permissions. However, if you don’t want QSW to open the network troubleshoot then you just need to mark the Do not automatically configure network permissions. I will run the fix myself
- When you use QSW for the first time, it runs various diagnostic tests. You may have to run those diagnostic tests again if you upgrade your system or MS Office.
With this option, you can provide information about your firm that allows you enter the information into statements. Once you enter the details, it will be available all the coming statements and you can modify the information at any point of time. If you are making changes in the accountant information and then try to open a previously created statement, it will use the new information in any cells in which you entered accountant information.
These are the global settings that will be used for all the coming reports; however, you can set up settings as per your convenient by going into the Reports and menu and choosing Report Data Properties.
There are several formatting options:
- Automatic Underlines: Unmark this checkbox to maintain all the underlines by yourself, and you don’t wish that the QSW to adjust totals and sub-total underlines automatically.
- Show: Choose this option to display decimal places, column headers on every page including the inactive accounts.
- Show Zero Balances As: Choose one of the three options to display zero balances by default – a dash, a bank, or a zero.
- Show Negative Numbers As: You can choose one of the five options to display negative numbers by default, (100), (100), -100, -100, or 100.
- Divide All Data By: Select to divide all data by 1,000, 100, 10, or not to divide it.
This screen can be used to customize global styles and formatting. You will use these style settings for all the upcoming reports. You can change a style be select it under the Styles list and then apply your changes of the standard formatting features. You can see your changes be click on Preview pane.
Create, Open And Back Up Financial Reports
You create at least one financial statement depending upon the open QuickBooks file when you start a new financial report. A report can be created by using few financial statements and supporting documents. If you are opening an existing financial report then you can continuously work on the statements and documents in the report and you can add additional statements and documents as well.
NOTE: The statements and documents order you see in Excel don’t refer to the order or the final report of the content which is in the PDF format. You can set the contents and order when you print the report.
Create A Financial Report
- From QuickBooks, choose QuickBooks Statement Writer from the Accountant menu and then click on Design New Report on the QSW window. If you are currently working in QSW, then you can run a new financial report the Statement Writer menu or from the QSW icons.
- Enter the report date and basis: Some of the date ranges defined in QSW for your convenience. Additionally, you can define a customer range, if any of the predefined ranges suites your business requirements.
- Add statements and documents: Some statements and documents can be added in any of the convenient order. The order doesn’t refer to the order in the final report.
- Templates are mentioned with terms such as Selected Year and Selected Period that refers to the report date you have entered already.
- You can set limit on the list from the left-hand table by choosing a category from the Show list.
- Select an item from the left labeled Statement and Document Templates to add items to the report. Now, click on the right arrow key to shift it to the correct table labeled as Financial Report Contents.
- Remove an item from the report by selecting an item in the appropriate table and then click on the left arrow.
- Remove all items from the report and start over by clicking on the double left arrow.
- Enter the report name: This name may differ from the name you have used for the final pdf report. The report gets stored in the default location.
Open the Financial Report
Financial reports use this .QSM extension. If you run a financial report while another financial report is already running, a new Excel will open. Both the reports are running, and you can use all the features on either one.
There are multiple ways in which you can open an existing financial report.
- From the main menu of QuickBooks, go to Accountant Menu and choose QuickBooks Statement Writer.
- Choose Open Existing Report from the QSW Welcome window.
Under the QSW window, navigate to the Statement Writer menu or you can choose the QSW icon.
To run a statement that is not sorted in the default location, go to the location where your file is saved and then open the file by double-clicking on it.
If the financial reports are stored on a network drive then you must have appropriate rights before opening a report on a network drive.
Open a statement through a network drive, system administrator needs to make some changes in the network and resolve some local security issues. You need to copy the statement to a local drive before you open the statement until the administrator make changes.
Back up Financial Reports
The company backup files doesn’t include QuickBooks Statement Writer files and you need to create backup of these files separately.
To make a copy of the QSW statements follow these steps:
- Locate the path where the *.QSM files are stored. (Choose Preferences from the Statement Writer drop-down list).
- Note down the paths reflected in the Default Save Locations: C:\Users\[User name]\Documents\Intuit\Statement Writer\[Client Company name]
- Open the Windows Explorer by pressing the Windows + E
- Navigate to the above-mentioned path.
- Select the Statement Writer folder and press the CTRL + C to create a copy of the folder.
- Press CTRL + V to paste the contents into the desired location.
The Report Designer
Utilize the Report Designer for setting up and customizing a report along with the statements and documents as per your requirement and then save a statement or complete report as a template that can be re-used as a patter to create custom statements and reports to your clients using a similar chart of accounts.
You can store design choices and formatting, templates save your time because it prevents you to repeat work you have done already.
Tips for navigating the Report Designer
When you go through the Report Designer, you need to be more attentive while following the below-mentioned features than can be helpful for you.
- Use step-by-step tabs to move through the screens: The tabs shown as numbers at the top lets you move through the screens using a step-by-step manner when you customize your report.
- Use tabs to view statements and documents (right-hand pane): On the right side of screens 2 and 5, select the tabs to display multiple statements and documents in the current report.
- “Drag and drop” from left to right, or use right-click menus: Screens 2 through 4 basically use the “drag and drop” and “right-click” feature. Use your mouse to drag an item from a toolbox to customize the report and drop it to a statement. You also have the option to right-click within a statement to show a menu.
- Advanced button: Screens 1 through 4 contains an Advanced button at the top-right corner of the screen and it shows a screen-specific menu containing some helpful options that can be used for customization.
Design reports with Easy-to-Use Features
You need to know about some important features on every screen that can be used to customize the report.
Report Content: This screen will allow you to build a bundle or a collection of documents and statements that will be added in the financial report.
- Open the Report Content Screen and simple use basic functionality and navigation to select everything that you wish to add in the report. This report will helps you to organize your selections in your way.
- On the next screen, you can customize every document and statement you selected and you will also have an option to store a statement, it the complete report as a template that can be used to create a similar report in the future.
Columns: The column features to customize columns for every statement in the report.
- Add a column: From the Drag/Drop Columns list, choose a column and drag-drop it into the statement. You can also make a selection by right-clicking a column in the statement to open the menu.
- Edit column header or dates: Right-click on a column from the statement and then click on Format Column Heading or Edit Column Dates or you can also the toolbar to use these functions.
- Move a column: Choose a column in the statement window and then drag it left or right.
- Delete a column: Right-click on the column from the statement and then click on Delete Column.
Rows/Accounts: You need to use the below-mentioned features for customizing rows and customize rows and accounts for all the statements in the report.
- Customize Rows
- Add a row: Click on the Drag/Drop Rows lit and then choose a row. Drag and drop it in the desired rows in statement. You also have option to right-click on a row in the statement for showing a menu then create a selection.
- Assign a row for a missing account: From the Accounts toolbox and choose a missing account and drag and drop it in the rows that you want.
- Move a row: Choose a row from the statement and then drag it up or down.
- Delete a row: Right-click on the row from the statement and then click on Delete Row.
- Customize total row types: You have four new total row types that can be customized in Excel. You can change the formula for a total row in Excel by going into the Row Properties area pf the Statement Writer pane. However, you can only change the SUM formula on the Rows/Accounts screen in the Report Designer.
- Roll up or Separate Accounts
- Roll up accounts: Press the CTRL key in the statement window while selecting the rows you wish to combine, right-click to show the menu and then click on Roll up Selected Accounts. You may get a small red Roll up indicator for the combined account.
- Roll up missing accounts: Choose the missing account you want to add in the statement window and then drag-and-drop it onto your preferred row. You may get a small red Roll up indicator for the combined account.
- Separate accounts: Under the statement window, a list of accounts will be visible in the row when you will point to a row with a Roll up the indicator. You need to right-click on the row and then click on Separate Accounts to separate them.
Insert Headers and/or Footers: Use the following features to customize headers and footers on all the documents available in the report. You will be able to edit headers and footers later in the Excel by selecting the Statement Writer option and then clicking on Edit Header/Footer.
- Use copy/paste: You can simply use the copy and paste function by right-clicking on the menu.
- Type your own custom text: Take your cursor to the desired header or footer and area and start typing.
Review & Finish: Use the following features to verify information, statement or complete report in the form of template and then create a report. However, you will have to create and save the report in PDF form in Excel before printing it because you won’t be able to print report from the current screen.
- Review Statement Information: In this tab, you will be able to see the information loading data into QuickBooks. This makes you able to see all the issues and you will be able to make modifications before creating the report.
- Memorize statements as templates: This feature can be used to memorize statements to use again.
- Memorize the current statement: Click on the single-page icon on the toolbar.
- Memorize all statements and documents as a report group: Click on the multi-page icon. Then use your custom templates to create reports for new clients with a similar chart of accounts which will be time saving for you.
- Launch report in QSW/Excel: You need to launch the report in QSW/Excel by clicking on Create Report option to see the actual data, customize formulas, and print.
- Easily update a report: Once you create a report for a client, you just need to open the report and make changes in the dates to update the information.
Reach Us For Support
Hopefully, you find this article helpful for you and you should have a clear idea about Using and navigate QuickBooks Statement Writer (QSW). If you face any kind of issue while using the QSW then you can contact us at our toll-free QuickBooks Support Phone Number +1800-567-0425 to get instant technical support for QuickBooks.