Recent improvements to the functionality and navigation in the report centre will not only save accountants time, but also further help them streamline their client reporting processes.
Let’s take a deeper look at some of the improvements to reporting functionality, to understand how reporting has been made more efficient and customisable to meet the needs of all types of businesses and accounting professionals.
In this article, discover how these new features and functionality will make your life easier when working with reports in QuickBooks Online.
Improved performance and navigation
Several enhancements have been made to the performance and navigation of reports in QuickBooks Online. Let’s take a look at how each update can make reporting in QuickBooks more simple.
Enhanced data limits
Twice as much data now loads onto the screen when you run the General Ledger report in QuickBooks. This means you no longer need to click “load more” to view all the general ledger data for a period.
Enhanced “find” feature
Users with a large QuickBooks Online database will also benefit from the enhanced CTRL–F feature. Intuit® customised this function so that it will search the entire browser cache for data, even if it’s not displayed on the screen.
Select the next arrows in the “find” window to quickly jump to the row with the search results.
These enhancements resolve data load issues for more than 70 percent of companies with a large QuickBooks database.
Scrolling through large reports is intuitive and easy to use. Users will notice how the scroll bar moves smoothly through the report data and pages, while allowing you to stop and resume without the cursor jumping back up to the top of the page.
QuickZoom allows users to drill down to see the detail of an amount on a report. By selecting an amount from any row in a summary report, such as a Profit and Loss, a detail report will open that displays a list of the transactions that make up that amount.
Then, select a row from the detail report, and the transaction screen for that specific transaction will be displayed. When you close the transaction screen, or select < Back to report summary, QuickBooks remembers which row was selected and returns you to that area of the report, rather than the top of the summary report page.
Click the gif below to see how it works.
Additional customisation options
There have always been lots of options available to customise reports in QuickBooks, including the ability to quickly toggle between cash and accrual accounting methods, collapse and expand accounts and sub-accounts, group by various report fields, and add columns to compare and analyse report data. New features that have been added to report customisation include expanded period comparison options.
Improved comparison options
One of the major benefits of using QuickBooks Online is the flexibility to compare different elements in the database to find and analyse trends. Another way to do this is by modifying columns and the way they are displayed on reports.
Reorder comparison columns on summary reports
You can create reports that compare a period to year-to-date (YTD), previous period (PP), previous year (PY) amounts, and previous year-to-date (PY YTD) on a single report, and reorder the columns as you prefer.
In the past, this was done by exporting multiple reports to Excel and piecing them together manually. As you may have guessed, previous year-to-date is a new option when running Profit and Loss Summary reports – added to QuickBooks Online based on feedback from our customers.
Custom prior periods
Another fantastic improvement is in the way custom prior periods are displayed on reports – saving our customers time and effort spent in modifying and exporting reports in excel. You can now automatically calculate a full month date range, and select a custom prior period to compare to, when you select a custom report period.
In the past, prior period comparisons to custom report periods used the number of days included in the custom date range. This often meant that previous period comparisons would leave off a day, and users would have to manually prepare this report view by exporting multiple reports to Excel. With the recent improvements, if the custom date range selected is for a full month, such as Feb. 1 through Feb. 28, the previous period comparison will automatically select beginning to end of month for comparisons, versus 28 days.
Collapse/expand row options saved with custom reports
Many companies prefer to track detailed financial information by using lots of sub-accounts. This allows management and other users to gain visibility into income and expense detail in a single report, without the need to drill down into the report. This practice also makes for a very long report, and can create extra work for accountants and other users, when they want to view the report in summary format.
A nice feature in QuickBooks Online reports is the collapse/expand function, which allows you to choose the level of detail displayed on a report by selecting the arrows next to each level of parent/sub-account to hide or display them.
This great feature is even better because the collapse/expand settings are now saved when you select save customisation to add a report to your Custom reports list.
With the introduction of Smart page breaks and page headers that can repeat on each page of the report, printing reports have also improved! The Smart page breaks feature places a break appropriately after subtotals or groups of accounts. This drastically improves the appearance and readability of reports.