One of the most valuable features in QuickBooks Premier is the ability to create customized reports tailored specifically to your business’s needs. The right custom reports can provide actionable insights to help guide important decisions.
Here are 10 essential customized reports that every QuickBooks Premier user should take the time to set up:
1. Sales by Customer Summary
This report shows total sales made to each customer over a specified period.
- Useful for: Analyzing which customers purchase the most from you. Segmenting and targeting top buyers.
- Customizations: Add columns for numbers of invoices, average invoice total, top products purchased.
2. Accounts Receivable Aging
This report breaks down total receivables by age to flag overdue customers.
- Useful for: Collections and assessing accounts at risk of non-payment.
- Customizations: Group by customer or sales rep. Show invoices over 90 days past due.
3. Inventory Stock Status by Vendor
This report lists current inventory quantities on-hand grouped under each vendor.
- Useful for: Knowing which products to reorder soon from each supplier.
- Customizations: Add columns for reorder point and preferred vendor.
4. Profit and Loss by Location
This income statement report displays revenue, expenses and profit broken out across business locations.
- Useful for: Comparing financial performance across branches or profit centers.
- Customizations: Add columns for budgets or past year comparisons.
5. Accounts Payable Aging
This AP aging report categorizes unpaid bills by how long they’ve been outstanding.
- Useful for: Paying oldest invoices first. Catching any payment delays.
- Customizations: Sort by due date instead of bill date. Show reminders for soon-due bills.
6. Inventory Valuation Summary
This shows the current total value of inventory quantities on hand from purchase costs.
- Useful for: Understanding inventory costing and turns.
- Customizations: Calculate estimated retail value for comparison.
7. Cash Flow Forecast
This projected cash flow statement forecasts expected cash inflows/outflows over upcoming weeks.
- Useful for: Proactive cash management and identifying potential shortfalls.
- Customizations: Show previous period forecast versus actual results.
8. Open Sales Orders by Customer
This lists all pending sales orders grouped under each customer.
- Useful for: Order status tracking and fulfillment queue management.
- Customizations: Add columns for order dates, products, and quantities.
9. Employee Sales Summary
This summarizes sales performance of each employee over date ranges.
- Useful for: Sales incentive tracking and agent productivity benchmarks.
- Customizations: Calculate average deal size and sales cycle length.
10. Job Profitability
This lists profit ratios for each job to identify most and least profitable projects.
- Useful for: Focusing on higher margin work.
- Customizations: Add columns for budgeted versus actual profit.
Think through the key reports that would help you make better decisions in your business. The customization flexibility in QuickBooks Premier enables creating tailored reports that highlight the exact information you need to effectively monitor performance.
What custom reports do you rely on in Premier? Comment below any other must-have examples that we should include on our top 10 list.