Using QuickBooks Accounting and Financial Reports
For many businesses, Quickbooks is pivotal for accounting needs. The QuickBooks Customers & Receivables Reports give you more insight into your customer relationships and billing information. You can run reports to view amounts due from customers, open invoices, average days to pay and many other reports in the Customers & Receivables Reports section.
These reports are most useful for following up with your customers who have outstanding balances so that you can ensure that you collect payments. You can also use the information for cash flow planning purposes, as the reports estimate how much and how long it will take your customers to pay any amounts they owe to you. Here is a list of possible QuickBooks Customers & Receivables Reports:
QuickBooks A/R Aging Reports will give you more information about how much your customers owe you along with how long these balances have been unpaid by your customers with the following features:
- A/R Aging Summary: The A/R Aging Summary Report will let you know how much each of your customers owes. It will also show you how long each customer’s balance has been overdue.
- A/R Aging Detail: The A/R Aging Detail Report will give you a detailed list of all of your customer's unpaid invoices and how long they have been overdue.
- Account Receivable Graph: The Account Receivable Graph will give you a graphical display of your outstanding receivables from your customers.
- Open Invoices: The Open Invoices Report gives you a list of unpaid invoices and their due dates. The Open Invoices Report is useful for cash flow planning because you can get an idea of when you will collect from your customers with this report.
- Collections Report: The Collections Report will give you a list of customers who have overdue balances, how much the balance is, and their phone numbers so that you can begin making your collections calls.
- Average Days to Pay: The Average Days to Pay Report calculates the average number of days it takes a customer to pay you.
QuickBooks Customer Balance Reports will show you detailed information about your customers’ balances:
- Customer Balance Summary: The Customer Balance Summary Report tells you how much each customer owes you.
- Customer Balance Detail: The Customer Balance Detail Report lets you know what payments and invoices make up each customer’s current outstanding balance.
- Unbilled Cost by Job: The Unbilled Cost by Job Report shows you the job-related expenses that haven’t been billed to customers.
- Transactions List by Customer: The Transactions List by Customer Report gives you the transactions your company had with each of its customers.
QuickBooks Customer & Receivable Lists will give you contact and pricing lists for your business.
- Customer Phone List: The Customer Phone List Report will give you the phone number of each of your customers.
- Customer Contact List: The Customer Contact List shows you the contact information and current balance of each of your customers.
- Item Price List: The Item Price List Report details the price of each item or service you’re your company offers its customers.
More QuickBooks Reports
You will find that QuickBooks has numerous accounting and financial reports for your small business, which includes the following reports:
- Company & Financial Reports: these financial reports tell you how your company is doing financially.
- Customer & Receivable Reports: these reports tell you how much your customers owe you.
- Sales Reports: these reports give you information about sales rep, sales orders, and pending sales.
- Jobs, Time & Mileage Reports: these reports give you information about your job estimates, including time, the amount spent, and mileage for each job.
- Vendor & Payable Reports: these reports tell you how much money your company owes to its vendors.
- Purchase Reports: these reports give you information about your company’s purchases and its open purchase orders.
- Inventory Reports: these reports give you information about inventory value, stock, and work-in-progress.
- Employees & Payroll Reports: these reports give you information about your employees and payroll expenses.
- Banking Reports: these reports give you information about your banking transactions.
- Accountant & Taxes Reports: these reports give you information about your basic accounting reports and information needed to prepare your income tax return.
- Budgets and Forecast Reports: these reports give you information to compare your actual results to your budgeted amounts.
- Lists Reports: these reports will give you phone, contact, and customer lists that you will find useful.
The number of these financial reports can be overwhelming; however, you will usually only use a handful of the reports for your business, dependent on the type of business you have and your particular needs.
If QuickBooks does not have the customer and receivable report that you need, you can build your own customized report or customize within QuickBooks.