Custom Financial Reports Overview - Accounting Software Secrets
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Custom Financial Reports Overview

Custom Financial Reports Overview

Custom Financial Reports

With the Custom Financial Reporter developed by Karl Irvin, you can quickly and easily produce presentation quality financial statements. The Reporter allows you to use Excel to create customized financial statement formats and then to merge QuickBooks data into those formats. The same financial statement formats (in an Excel workbook) can be used from month to month and for all of your clients or you can have different financial statement format workbooks for different clients.

We provide an Excel workbook with set of financial statement formats that you can modify or copy or you can create your own format workbooks. Other than the columns of data that are available, you have total control over the design of the financial statement formats. You can have as many heading and data rows as you need and you can use any of Excels fonts, type styles, number format, colors etc. 

The Reporter exports multiple trial balances from QuickBooks and puts the data into any Excel workbook that you choose. The only requirement is that the workbook has a worksheet named “Trial Balance” and a worksheet named “Variables” which the Reporter changes each time you export data from QuickBooks.. The other sheets in the workbook will contain your financial statement formats and you can have as many financial statement format sheets as you need to meet your reporting requirements. The provided workbook includes sheets on which we have designed formats  for Assets, Liabilities, Profit and Loss and Cash Flow statements. This workbook can be copied or modified to meet your needs. 

The data in the Trial Balance sheet is linked or mapped to the financial format sheets using the Excel SUMIF function which matches user definable “Row Names” in the financial statement format sheets with same name in the Trial Balance sheet. Data in the Trial Balance sheet automatically flows to your financial statement format sheets based on matching row names. To create a link between a financial statement format sheet and the Trial Balance sheet, you give a row in a financial statement sheet a “Row Name” and then in the Trial Balance sheet you assign the same “Row Name” to all accounts to be accumulated on that row. 

The Reporter saves the row names you have assigned to accounts and the next time you export data from a company, those previously assigned row names are automatically included on your Trial Balance sheet. There is also a report that shows new accounts which have not been assigned to a row name.

The Reporter exports multiple period Trial Balances from QuickBooks and places the data in columns in the Trial Balance sheet. You only need to enter one date and the Reporter exports sufficient data to produce the following statements.

Balance Sheets: Current year, prior year, last preceding year-end and prior month.

Profit and Loss: Current month and year to date this year and prior year.

Cash Flow: Current month and year to date this year. Year to date prior year. 

The cost of this product is $99.

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Custom Financial Reports