What reports are most important? CFO shows top QBO reports
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- Опубліковано 25 чер 2024
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Reports are critical for analyzing the progress, success, and health of a business. But you need relevant reporting before you can "read" if for information!
We use the reporting side of QBO the most as CFOs, so we wanted to share with you the reports that we run all the time with our clients. This will help you confidently use the reporting section and pull the information you want and need out of the system.
We focus mostly on Profit and Loss variations and the Balance Sheet here. But if you want to see another report, comment below!
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
Great talk, thanks. The standard 3 financial statements are IS, BS and CF (sometimes OE also); why not address that, particularly for companies that have significant financing and investing activity?
Duplicate expenses can result by using Bill Pay feature to record an expense, then using "Check" to print a check to pay the same expense.
Hi Clara, your videos are great and easy to understand. Can you please create a video showing us how to solve the QBO Sample company please? I've been watching separate videos about doing stuff in QBO but sometimes it is difficult to linked them all together specially the invoicing, bill payment, undeposit funds, bank deposit and receive payment. I tried solving the Sample company but not really sure if I've done it correctly. Would be very grateful if you can help :)
I am not sure what you mean by "solve the sample company"?
Thank you for your work!
Glad it was helpful!
Thank you. This video is very informative and helpful. Also the video is awesome content
Thanks so much, so glad it helped!
Is there a way to customize the balance sheet report in QB Plus? There doesn't appear to be a way to change which accounts are shown; for example I would like to remove some of the accounts for basic reporting to a group that don't need to know the value of the property, etc. Going into customize only shows customer, vendor, etc. not the accounts.
Chris - you will want to watch this one: ua-cam.com/video/mkQWUzK-pGg/v-deo.html in order to reorder the balance sheet - you will want to use the account number feature. You need to edit the chart of accounts to accomplish this!
Why are you running your business on a Cash Basis?