Exercise 7 (Lesson 9)

7/27/2019 Exercise 7 (Lesson 9)

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COMPUTER ACCOUNTING WITH

QUICKBOOKS

Lesson 9 and

Exercise 7Analyzing Financial Data


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QuickReport

One of the fastest ways to see areport on your QuickBooks data is tocreate a QuickReport. QuickReports arepredesigned reports that give you

information about the items yourecurrently viewing on screen. Wheneveryou have a list, a register or formdisplayed, you can click a button to haveQuickBooks create a QuickReport.


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To see what you owe a supplier:

1. Click Supplier Center on the icon bar.

2. Select Optical Phone Networks.

3. In the Reports for this Supplier section, click theQuickReport link. (at the right side)

4. Leave the report open; you will use it in the next

exercise.


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Zooming In on a QuickReport

All QuickReports contain a summary ofindividual transactions. To help you betterunderstand the information presented in reports,QuickBooks lets you trace report data to theindividual transaction level using QuickZoom.

When you position the mouse pointer over anumber in a report and you see the QuickZoomsymbol (a magnifying glass with a Z in it), you candouble-click the number to display the originaltransaction in QuickBooks.


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To see more detail about an item:

1. Position the mouse pointer over the cheque #1dated 12/05/09.

2. Double-click the cheque.

3. Click Save & Close to close the window.


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Customizing QuickReports

Each QuickReport window has a button bar at thetop of the report for customizing report contentand layout


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To add a column to a report:

1. In the QuickReport window, click Modify Report.

2. In the Columns list, select Trans #.

3. Click OKto accept the change.

Notice that the cheque from Optical Phone Networksis now listed as Transaction #536.


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To move a report column:1. Position your mouse pointer over the Trans #

column that you added to the QuickReport.

2. Hold down the left mouse button and drag theTrans # column to the right until you see anarrow between the Date Column and the Numcolumn.

3. Release the mouse button.

4. QuickBooks places the Trans # column betweenthe Date column and the Num column.


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To change information in the report heading:

1. In the QuickReport window, click Modify Report,and then click the Header/Footer tab.

2. In the Report Title field, highlight the text forSupplier QuickReport, and type SupplierHistory Report to replace the title

3. Click OKto close the Modify Report window.

4. Close the QuickReport window.

5. Close the Supplier Center.


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On the Header/Footer tab, you can change

the company name, report title, subtitle, and dateand time prepared. You can also specify whetherto print the header on all pages or on just the firstpage. The Header/Footer tab is the same for allQuickBooks reports.


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Creating a Balance Sheet ComparisonReport

The balance sheet comparison report compares thecurrent year against the previous year in bothamount and percentage.


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To create a balance sheet comparisonreport for Stadium Construction:

In the Report Center, choose Company &Financial, scroll down to the Balance Sheet &Net Worth section, and then choose Prev YearComparison.

Scroll the report window to see more of the

report. Click the Collapse button to see the difference.

The Collapse button hides subaccounts, jobs,and subclasses. Amounts are summarized underthe main heading. This button affects both the

onscreen and printed report.4. Click Expand to return to the original report

display.

5. Keep the report displayed on your screen. Youll

use it in the next exercise.


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Saving Reports as a PDF

You can customize preset reports the same wayyou customize QuickReports. In this exercise youllcustomize the balance sheet comparison reportand filter it to include only the transactions youspecify.

Report filters let you set custom criteria for thetransactions you want included in a report. Whenyou filter a report, QuickBooks includes only thosetransactions that match the rules you create


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To save a report as a PDF file:

1. With the report open, choose Save as PDF fromthe File menu.

2. Navigate to the folder in which you want to storethe file, and enter a filename.

3. Click Save.

4. Close the report window.

5. Click No when QuickBooks asks if you want to addthis report to the Memorized Report list.

6. Go to the Window menu and choose Close All.

7. Click Home in the icon bar.


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Creating and Customizing a SalesReport

To create a sales report & To customize a report:

1. From the Reports menu, choose Sales, and thenchoose Sales By Customer Summary from thesubmenu.

2. In the Dates field, select Custom from the drop-downlist.

3. In the From field, enter 01/01/2005.

4. In the To field, enter 12/31/2007 and press Tab.

5. From the Dates field, choose All from the drop-downlist.


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Using QuickZoom in a Preset Report

To QuickZoom on a report item:

1. Position the mouse pointer over the amount forZeus Construction-Clients Trust

2. Double-click the amount.


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To QuickZoom further to display theoriginal invoice for a transaction:

1. Position the mouse pointer over the first item onthe report (invoice #50 dated 4/15/2005 forDoor).

2. Double-click anywhere in the first line.

3. From the Window menu, choose Close All.

4. Click No when QuickBooks asks if you want tomemorize the report.

5. Click Home in the icon bar to display the Homepage.


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What you see when you QuickZoom in a reportdepends on the type of report displayed:

If the report shows summary figures (like the salesby customer summary report we just displayed)and you QuickZoom an amount, QuickBooksdisplays a transaction report that includes the

transactions which contribute to that amount.

If the report shows transactions and youQuickZoom a transaction, QuickBooks displays theinvoice, bill, or other form for the requestedtransaction.


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Creating Memorized Report Groups

In addition to saving report settings, you cancreate memorized report groups that you can useto organize your memorized reports in a way thatmakes sense for your business and to allow you toquickly process a group of reports at once.

QuickBooks comes preset with a number ofmemorized report groups each containing commonreports for each area. You can add your ownreports to these groups, modify the groups to meetyour needs, and even create your own groups.


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To create a memorize report group:

1. Choose Memorized Reports from the Reportsmenu, and then choose Memorized Report List.

2. In the Memorized Report list, click theMemorized Report menu button, and chooseNew Group.

3. In the Name field of the New Memorized ReportGroup window, type Year End.

4. Click OK.


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Memorizing Preset Reports

To memorize a report:

1. From the Reports menu, choose Accountant, andthen choose Income Tax Summary.

2. On the report button bar, click Memorize.

3. Leave the name of the report as is.

4. Click the Save in Memorized Report Groupcheckbox to select it, and then choose Year Endfrom the drop-down list.


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Memorizing Preset Reports

5. Click OKto memorize the report and add it tothe Year End memorized report group.

6. Close the income tax summary report.


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To display a memorized report:

1. In the Memorized Report list, select report .Balance sheet - Company

2. Click Display.

3. Leave the report open.


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Printing Reports

To print a report:1. With the balance sheet summary report

displayed, click Print.

2. Click Preview to see how the report will lookwhen you print it.

QuickBooks displays a preview of your reportonscreen.

3. Click Close to close the Print Preview window.

4. Close the Print Reports window, and then closethe report.


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Processing Reports in Groups

To batch process reports:

1. In the Memorized Report list, select Suppliers.

2. Click Display.

QuickBooks opens the Process MultipleReports window. You can use this window todisplay or print the selected reports. You can alsochange the date range for reports in this windowbefore you display or print them by clicking inthe From or To columns.

3. Leave all reports selected and click Display.



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Sending a Report to Microsoft Excel

You can send reports from QuickBooks to MicrosoftExcel. Since the changes you make in Excel dontaffect your QuickBooks data, youre free tocustomize reports as needed, and even changedata to run what-if scenarios.


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To send a report to Microsoft Excel:

To send a report to Microsoft Excel:

1. From the Reports menu, choose Company &Financial, and then choose Balance Sheet.

2. On the Report button bar, click Modify Report.3. In the Add subcolumns for area, click the

Previous Period checkbox, and then click the $Change and % Change checkboxes.

4. Click OK.

5. On the Report button bar, click Export.


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Sending a Report to Microsoft Excel

6. 6. On the Basic tab, make sure that a new Excelworkbook is selected.

7. 7. Click the Advanced tab.

8. 8. Under Formatting options, click the Colorscheckbox to clear it.

9. 9. Under Excel features, select the Auto Filteringcheckbox.

10.Click Export.

11.Leave the report open in Excel; youll use it inthe next exercise.


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Filtering a Report in Microsoft Excel

Within Microsoft Excel, you can filter on anycolumn of data using a drop-down list at the top ofthe column. Using the drop-down list, you canapply a number of preset filters or create your owncustom filter.


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To filter a report in Microsoft Excel:

1. In the Excel window, click the down arrow in the$ Change column of the balance sheet report,and choose (Custom...).

2. In the $ Change field, choose is less than fromthe drop-down list.

3. In the field to the right, type 0.

4. Click OK.

5. Close Excel without saving the report.

6. Close the balance sheet report in QuickBooks.

7. Choose No when QuickBooks displays a messageasking if you want to memorize the report.

Creating an Income and Expense


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Creating an Income and ExpenseGraph

If you want your business to be profitable, youneed to keep an eye on your expenses. Theincome and expense graph shows you exactlywhat youre spending and where.

To create an income and expense graph:

1. From the Reports menu, choose Company &Financial, and then choose Income & Expense

Graph.

Creating an Income and Expense


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Creating an Income and ExpenseGraph

To display income accounts instead of expenseaccounts:

1. Click Income at the bottom of the graph window.

2. Click Date Button change graph date to All.

3. Click By Customer.


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Using QuickZoom with Graphs

To help you better understand the informationshown in the graphs, QuickBooks lets you tracegraphical data using QuickZoom graphs.

To display the sales for specific customer:

1. Position the mouse pointer over the TechmanEngines slice of the pie chart

2. Double-click the Techman Engines slice.


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To display a report describing the transactionsfor a given month:

1. Position the mouse pointer over the barrepresenting Nov 03. The pointer turns into theQuickZoom symbol.

2. Double-click the bar.


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To display the first transaction in the report:

1. Double-click any of the lines in the report forInvoice #34.



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Customizing How Graphs Display

You can customize graphs to control what datathey include and how the data is displayed. In thisexercise, youll change the display from three-dimensional (3D) to two-dimensional (2D) graphs.


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To change from 3D to 2D:

1. From the Edit menu, choose Preferences.

2. In the left panel, click Reports & Graphs.

3. Click Draw graphs in 2D (faster).

4. Click OK.5. Click Report Center.

6. Choose Sales. Then from the Sales by Customerlist, choose Sales Graph.

7. Close the graph.8. Close the Report Center.


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Exercise 7 (Lesson 9)