QuickBooks Best Hidden Report Techniques

One of the major pieces of functionality and power that QuickBooks provides to a small business, besides making bookkeeping easier, is the power of reports. Reports provide you not only with the basic data you need to run your business, but they also provide you with business intelligence: information about how your business runs. Unfortunately, remembering which report gives you what information can be a challenge at times.

Here are some of the top reports in QuickBooks you can use to improve your business:

  • Hidden time tracking reports. Basic QuickBooks time tracking reports let you look at time by Job Summary, Job Detail, Name, or Item. However, you can modify any one of these reports even further. For example, the Time by Name report can let you further group the data by other categories, such as Time by Name by Job or Time by Name by Item. This can take a report that has only a small benefit and turn it into a more powerful look at your data.
  • Hidden balance sheet reports. Another favorite hidden report is in the balance sheet report. Go into a balance sheet report and drill down onto an amount. From there, you can look at the daily activity on an account, or modify your date range. Alternatively, you can drill down on a bank account, click “Modify,” and change the display date and add or remove columns. This gives you the exact balance sheet information you want, rather than what’s automatically included.
  • Hidden house charges reports. One of the more frustrating QuickBooks tasks for some businesses is manually adding and removing house charges to a manual list. Instead of manually updating this list, you can go into your Customer Type list to choose which customers are house charge customers. You then use the Credit Limit field to insert their credit limit. From there, filter for “Charge Account” type. Memorize the report, which lets you reprint it whenever you need to update your charge accounts without having to start back from scratch.

QuickBooks offers tremendous power and flexibility, but only if you’re willing to master the kinds of things that it can do for you. As this restaurant owner found out.

Bernard Roesch About Bernard Roesch

Bernard Roesch is co-founder and Managing Partner of Mission Consulting. Bernard’s background in the early years of his career was spent in the manufacturing sector, making his QuickBooks perspective a unique one – he understands the intricacies of a complex environment and then applies his strategic skills accordingly.