Accounting reporting refers to the process of generating accounting reports, also commonly referred to as financial statements, from a business's accounting data. Accounting reports are the scorecard by which a business's financial health is measured. Business owners, investors, suppliers, banks, and the IRS use a business's accounting reporting to understand the financial position, financial performance, and cash flows of a business.
The three main accounting reports for any business are the balance sheet, the income statement (also called the profit and loss statement), and the statement of cash flows. The balance sheet details what a business owns (assets), what it owes (liabilities), and its net worth (equity) at a specific point in time. The income statement details a business's revenue, expenses, and profits (or losses) over a specific time period. And the statement of cash flows details the movement of money into and out of the business. These three reports are central to understanding the financial health of the business and are a key component in making smart business decisions.
QuickBooks Online is # 1 in cloud accounting for small businesses1. It organizes all of your financial transactions and accounting data in one central location so that you always know where your business stands. You can access your accounting data and generate accounting reports anytime and from anywhere. QuickBooks Online comes pre-installed with accounting reporting templates so that you can generate the accounting reports you need in just a few clicks. Try QuickBooks Online for free.
QuickBooks Online makes accounting reporting fast and easy
QuickBooks Online is the easy way to generate accurate and easy-to-read accounting reports in just a few clicks. All versions of QuickBooks Online come pre-installed with templates for the three main accounting reports - the balance sheet, the income statement (profit and loss statement) and the statement of cash flows - plus over 20 other report templates for fast and easy accounting reporting.
To generate an accounting report, simply go to the Reports tab and click on Reports list. You will see over 20 reports listed, including the A/R Aging report, the income statement, balance sheet, profit and loss statement, sales by customer, taxable sales, and more. If you use QuickBooks Essentials, you have access to over 40 pre-installed accounting report templates, and with QuickBooks Online Plus you have access to more than 65 templates. Select the report you would like to generate, select the date rage and other information from easy drop-down menus, and click OK. Your accounting reports are generated in seconds and they are easy to print or email directly from QuickBooks Online.
You can also customize accounting reporting templates to suit your business needs. Add your company logo, contact information, and more. You can click on the Customize Report button for any report and hand-pick rows, columns, dates, transaction type, account type, and more. You can click Memorize Report so that it's even faster to generate the accounting report anytime you wish. QuickBooks Online makes accounting reporting easy. Try it for free today.