Advanced Reporting in QuickBooks Enterprise – All You Need To Know

Decision-making plays a vital role in the growth of a business. You deploy statistics, use your experience and gut feeling, to come to a final decision. However, a software that offers advanced reporting can help you analyze the situation better and improve decision-making.

Even QuickBooks realized the same and felt that they needed to ‘up’ their reporting game. Their answer was QuickBooks 2015, in which they introduced advanced reporting in all the versions of QuickBooks Enterprise. Just a few clicks, and the software presents all the information that you need to grow your business.

The software also includes industry-specific reports, including retail, manufacturing, or construction. QuickBooks Enterprise automatically creates visually appealing reports, charts, and graphs by feeding your data to the already created templates and saves you the hassle of manual data entry and report creation. In addition to this, you also have the flexibility to design the reports on your own.

Some advanced reporting features found in QuickBooks Enterprise are:

• Sales profitability by customer dashboard
• Sales by item forecasting
• Job costing
• Inventory stock by item
• Paid invoices by sales rep

What is Advanced Reporting?

Advanced Reporting is an alternate for the standard reporting tool in QuickBooks. It is technically a separate tool that QuickBooks contracted to QlikView. As it is a different tool, it is updated separately and is independent of QuickBooks’ updates.

Why do you need Advanced Reporting?

If the answer to any of the questions mentioned below is Yes, the Advanced Reporting feature will come to your rescue.

• Did you ever feel the need to add a custom field to a QuickBooks report?
• Did you ever feel the need to get your hands on a user-friendly reporting tool?
• Do you wish to get a reporting tool that creates visually appealing reports that are easy to understand?

The Advanced Reporting tool can create complex reports that are beyond the abilities of the standard QuickBooks reporting tool. As mentioned above, it is a separate tool; you need to refresh it manually in order to see the updated data in the reports.

How to access QuickBooks Advanced Reporting?

To be eligible to access the Advanced Reporting, you need to subscribe to a silver, gold, or platinum package of QuickBooks Enterprise.

Follow the steps mentioned below to access and use the Advanced Reporting feature:

1. The admin has access to use this feature, but he can grant other users permission for the same. To give different users access to it, go to Company > Users > Set Up Users & Roles.
2. The permission is located in the permissions tree under File > QuickBooks Advanced Reporting.
3. To use the Advanced Reporting feature > Open the file you wish to use with Advanced Reporting in the multi-user mode.
4. Go to Reports menu > Advanced Reporting.

Please note that if you’re using Advanced Reporting for the first time, the tool will take some time to build the data model. Also, it will depend upon the size of your file – if you have a large file, it can take some time to load the data. Although, it won’t have any impact on other users, and they’ll be able to continue with their tasks as usual.

Once this process is completed, it should be quicker the next time you load the tool as it will update only the changes made since the last time. You also have the option to skip the changes made to make the process even faster if you are aware that there have been no significant changes since the last time.

Features of Advanced Reporting

Advanced Reporting is a powerful tool offering multiple functions such as:

Bundled Templates

This feature helps you find the report you need. The tool categorizes multiple reports based on specific transactions. The team at QuickBooks has done a fairly good job of customizing different reports according to industry-specific needs. For instance, a warehouse may need to keep track of backorders, sales, profits, and sales forecasting. All such reports are featured on the dashboard for the users.

Ease of Use

QuickBooks has always focused on providing easy usability to its users, and they have done the same with the Advanced Reporting tool. The colorful and visually appealing dashboard is easy to use, and the users get accustomed to it very quickly; you can easily glide your way through the tool to find what you need. With other features such as security and productivity tools, price changes by class, work order scheduling, inventory management systems, etc., you’ll readily see the impact of the reporting tool in no time.

Help Portal

The comprehensive help portal is a complete package when it comes to providing reporting support or if you wish to learn more about the tool. The help portal also includes easy to understand how-to-videos, case studies, tutorials, and documents to help you understand the tool better.

Versatility

The Advanced Reporting tool in QuickBooks Enterprise is exceedingly versatile. The tool is compatible with multiple industries such as manufacturing, accounts, and more so that any business can use it regardless of the industry type.

Also, there is an option to create customized reports from scratch with charts, graphs, images, and other data.

Conclusion

This was everything you should know about the Advanced Reporting feature in QuickBooks Enterprise. It is a robust tool that offers a user-friendly interface so that the users get comfortable within no time.

If you wish to know about the reporting features and how QuickBooks Enterprise can help your business, contact our Solutions Consultant at 855-270-6252.