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UT1
Active Member

what report should i print from quickbooks for audit purposes?

I have printed profit and loss report from 1/1/18-12/31/18.  I have also printed a payroll summary from 1/1/18-12/21/18.  Some of the numbers differ.  Our audit is not balancing and I'm wondering if I'm not printing the right reports to do the audit on.

1 Comment
Moderator

Re: what report should i print from quickbooks for audit purposes?

A warm welcome from the Community, UT1.

 

You've printed the correct reports. However, I'm glad to help run other reports in QuickBooks Desktop for your audit.

 

Aside from Profit and Loss and Payroll Summary, here are the common reports that are useful for audit:

  • Income by Customer Detail - This report provides complete information on the customer making a payment and, ideally, an invoice number and date to support the claim.
  • Expenses by Vendor Detail - The totals shown in the Balance column are the net expenses for each vendor during the time covered by the report. The totals reflect credits received. The grand total in bold at the bottom of the report is your company's net expenses for all vendors.
  • General Ledger -This report shows the activity in your accounts over a specific period of time.
  • Previous Reconciliations - This report can help you track down discrepancies with your bank statement.
  • Audit Trail - Each event is stored as a record and displayed within the audit trail report in QuickBooks.

You can access them by clicking Reports at the top, and choosing the appropriate title.

 

The information above should help you with the audit. Please ping me in the comments section if you have other questions. Enjoy your day.