18 Nov Trend Statements for Management
QuickBooks Tips & Tricks – Trend Statements for Management
QuickBooks captures information of use to business owners in managing their business. Some of the reports are standard, such as Accounts Receivable Aging reports, Accounts Payable Aging reports, and financial statements. Others require a little customization to provide useful information such as trend statements, exception reports, or additional analysis reports.
Based on the survey we conducted last week, 87% of those that responded were interested or very interested in information to add value and improve their client”s business. Over the next few weeks we will look at each, starting this week with trend statements.
Trend Statements – Typically these reports show the results over time. For example, a profit and loss that shows several periods on the same report. To create this type of report, start with the Balance Sheet Standard or Profit & Loss Standard. Next, change the Columns choice at the top of the report from Total Only to the appropriate time period (i.e. month, quarter, etc.). Don”t forget to confirm that the date range includes the entire period that is to be shown. Even if that date range includes several years. For the Profit & Loss, by using this method, it is also possible to add the percentage of income. To add the percentage next to each column, choose modify report (or customize in the older versions) and check the box next to % of Income.