Thanks for posting in the Community, @kandmengineering1
Yes, you're right QuickBooks displays reports based on Report set. It extracts information from the data file and shown as a set of transaction lines.
QuickBooks Desktop also uses the Source and Targets concept. This is to apply accounting principles and processes in your reports. Understanding Source and Targets help you maximize Report Filters. This way, you'll know how each column on the report is populated and you can create more effective reports.
Source- is the summary information about a transaction and contains all source data (source account, source name, source memo and source amount, etc.).
Target- it provides detailed information about the transaction and includes all target data (target accounts, target names, target memos, target amounts, etc.).
For more information about this, kindly visit this article's How QuickBooks generates reports section: Understand reports. It also contains the complete list of available reports in the system.
Additionally, you can set your report preferences to fit your style and business needs. To learn more about it, check out this article: Set report preferences. It contains other sets of related articles that covers basic information about reports in QuickBooks Desktop.
Please leave a comment below if you have any questions or concerns. I'm more than happy to answer them. Have a great day!