QuickBooks
® reports can deliver information from the very general to the very specific. And you’re the person who controls that level of detail. On one hand, it’s as simple as selecting the proper report from the list of reports. On the other hand, it’s as complex as “beginning with the end in mind” to set clear parameters, and make preparations, for the reports you want to use to make effective decisions in your business.
In the very general category, are the basic reports for the Balance Sheet, Profit and Loss, and Statement of Cash Flows. These reports use the simplest level of reporting, which is at the Chart of Accounts, and General Ledger levels. The data that is used for the reports requires you to designate the proper Chart of Account numbers for transactions, which then causes the data associated with each Chart of Account number to flow into the three financial reports.
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