How to Create a New Management Report in QuickBooks?

For users utilizing QuickBooks Online or QuickBooks Desktop for their accounting needs, know it is impossible to make custom reports in QuickBooks software. Nonetheless, there is a number of methods you can use to make customized accounting or bookkeeping reports, the fact of the matter is, once you know how to Create a New Management Report in QuickBooks – it becomes easy for you to customize.

However, it is impossible to make a report in the accounting software from scratch, but by using templates, you can customize a report in QuickBooks.

Also Read: How to Convert QuickBooks Desktop to Online

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For Example

If a user wishes to glimpse the previous year’s data, they can replace it with a custom data filter. The default data is replaced with customized data and enables a user to customize the report to display yearly stats compared to the default data that shows monthly reports.

What More Can You Do?

Apart from that, you can also select additional data by changing the data filters in the software.

Other than that;

• It enables you to delete and add columns in QuickBooks reports.
• You can make changes in the format – from portrait to landscape.
• A user can add custom headers and notes on a report.

How Do The Above Mentioned Options Help a User?

With the help of using the options you can near the possibility of creating custom QuickBooks online reports built not from the scratch. Besides that, any QuickBooks report you generate is going to be saved on the desktop system.

Later, you can use the saved copy of the report for future endeavors. You can also add it to your favorites to access them instantly.

The Versions These Options are Available On Are;

• QuickBooks Pro.
• QuickBooks Premier.
• QuickBooks Enterprise.
• QuickBooks Proadvisor.
• QuickBooks Online Account.

Things to Consider While Customizing QuickBooks Report;

• It will be helpful for a user if they start keeping things in perspective about how they want to customize their reports.
• Ensure the templates you are about to use display all the reports.
• Apart from that, double-check if the reports display general instructions pertaining to the sets of reports.
• Each report must structure the transaction.

Once you become familiar with the reporting structure, other custom reports can be built using the same methodology. Nevertheless, a user is advised to ensure that the option (Report Preferences) is accessible for both personal and company preferences for a report that a user is running for their company. It is important to set your preferences right before customizing reports because QB Desktop reports utilize report templates.

This is Create a New Management Report in QuickBooks. If you are still not certain how to make a custom report in QB Desktop, the following steps will help you understand how to customize a profit and loss report;

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Key Factors To Consider in The Profit Loss Report in QB;

Before diving into the key factors, let’s look at the wide range of options that QB offers in creating Profit & Loss reporting. It includes;

1. Custom summary report.
2. Transaction detail report.
3. YTD report.
4. Comparison report.

Create a New Management Report in QuickBooks –> The accounting software QB Desktop provides various other options that you can choose. If you are not certain which one to go with, left-click on the info button present in the report window. You can access the tab lies right beneath the report image.

• Now press on the “Customize Report” tab available at the top. Whenever and whatever report that a user wishes to customize, they need to access the same tab. By accessing the tab lies on the top of a report, you will be availed with several options to customize the report.
• Once you clicked on the “Customize Report” tab, it will take you to the “Modify Report” option. It further takes you to various options;

1. Display
2. Filters
3. Header/Footer
4. Fonts & Numbers

Let’s take a deep dive into the options and see what they are all about;

1. Display

The Display option in the report allows a user to select date range that a QB user wishes to include in the QB report. However, the report will always be available in a default form, which is, displaying fiscal year only – you can change it by left-clicking the drop-down arrow. It helps in widening the date range including other custom options. The “Display” option also enables you to select both report basis and the data sort including the number of columns you want to add in your report.

2. Filters

The filter option is what that really allows you start customizing the report. Depending on the report you desire to customize you can choose any of the filters out of several. Besides that, it also allows you to select the accounts that you want to add to your report. Out of the blocks of accounts like income/ expense reports in QuickBooks, you can drill down the list and select the desired accounts from the blocks. The filters are available on the right hand side of your Desktop screen and will update according to the changes you make to the filters.

3. Header/Footer

This option is very straightforward. It allows you to select stuffs like “Company Name”, “The Report Title”, “The Report Date”, and “Subtitle Of New Report”. When you click on the “Footer” option, it enables you to add footer detail as well. The details including; page number, and adding another footer line. Once a user has selected their options, the report image will update and display the choices you made.

4. Fonts & Number

A user can make their reports stand out by opting to “Fonts & Number”. As the name of the feature justifies its use, it’s pretty clear that by using this option you can change fonts of a report anytime. For instance, you can select to use different font for the column and other for row labels and something else for the report data. You can also choose how the numbers are displayed on the report.

Although report customization can be done by making use of a standard report template, you must know that the options for customizing are endless. Here are the Create a New Management Report in QuickBooks;

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QuickBooks Sales Reports.

If you want to sell the products in multiples states in your report, you must structure the sales by state. It allows you to track your sales performance throughout multiple locations. It allows you track how a particular state is moving through.

Follow the steps given below;

•  Choose the category “Sales”.
• Now, select, “Sales By Customer Detail” report.
• Get access to the “Customize Report” right on the top of your Desktop screen.
• Get access to “Display” tab.
• Go to the “Columns” present beneath “Display” tab.
• Choose, “Name State”.
• Left-Click on, “OK”. You can also choose to cancel it if you want to make changes to it.

Comparing Multiple Year Profit & Loss

Income/profit & Loss statement is the most crucial reports in a business. It can be even more useful when the statement is used to compare a company’s performance from one fiscal year to the next. Through this feature you can print a multiple statements of as many years as you want in QuickBooks. You just have to carefully follow the steps below;

• Choose the category from reports, “Company & Financial”.
• Now choose, “Profit & Loss Standard”.
• Now select, “Customize” tab lies at the top of the Desktop screen.
• Select the years you want to include in your report from the “Display” tab.
• After that, choose, “Year” present in the “Display Column”.
• Now, left-click, “OK”.

Open Purchase Order Report In QuickBooks Totaled by Vendor

You must know that by default a vendor cannot total open Purchase Order Report in the accounting software QB. Nonetheless, you can do so by customizing the Transaction Detail in QB report. Besides that, the users having dedicated software other than QB, can also make custom reports right in the application. It provides you a detailed QuickBooks payroll reports for vendors.

• Choose, “Custom Reports”.
• After that, “Transaction Detail”.
• Now, go to the top of the screen and press the tab, “Customize”.
• Once you are done with that, get access to the “Filters” tab. Now follow the step thoroughly;

1. Account = Purchase Order.
2. Posting Status = Either.
3. Received = No.

• From the drop-down menu, choose “Total”.
• Choose, “Vendor”.
• Now, hit, “OK”.

The report will be displayed with the total sum purchase orders opened by the vendor.

Item-wise Sales & Purchase Orders

If you wish to know what items you have included in the recent sales & purchase orders, you can make a custom report. It will help generating the report that entails the asked details. Follow the steps to proceed with the procedure;

• Get access to the, “Custom Report”.
• Now, go to the, “Transaction Detail”.
• When you access the, “Display” option, provide details for the mentioned fields;

1. Amount.
2. Balance.
3. Date.
4. Name.
5. Num.
6. Item.
7. Qty.
8. Type.

• From the option, “Total By”, choose, “Item Detail”.
• From the, “Filters” option, choose the mentioned details;

1. Detail Level: All Except Summary.
2. Item: All Sales Item.
3. Posting Status: Non-Posting.
4. Transaction Type: Multiple Transaction Types.

• When you want to get the report, click, “OK”.

Also Read: QuickBooks Desktop 2023 Summary

Due Estimates

If it is normal for you to provide estimates to your customers, a fine report that tells the entire outstanding amount, is necessary. It is crucial for an experienced QB user to customize their reports according to this key factor. Follow the steps if you wan to learn how to do that;

• Get access to, “Reports” from “Menu”.
• Now choose, “Job, Time & Mileage”.
• After that, choose, “Estimates by Job”.
• Now, left-click on the, “Customize Report” option. The feature is available on the top of the page.
• Go under the page and get access to “Display”.
• Now, add the “Open Balance”.
• Uncheck the columns that are redundant.
• Now, choose “Date Range” from the report.
• Finally, press, “OK” button to proceed with generating the report.

Concluded With

This is everything you need to know about how to Create a New Management Report in QuickBooks. Once a user becomes familiar with the customization procedure, it becomes easy for them to make custom reports. By saving the changes, you can use it for the future endeavors. Apart from that, you can also export a report from MS Excel, which further enhances the customization process.