There are many reports that can be run and customized several ways in QuickBooks and the bottom line of course is that the report from QuickBooks should give you the information you are looking for. One of the biggest challenges when it comes to running a report that shows you the activity in a particular checking account is getting it to show the correct running balance. Most of the time when you try and run a report and filter it for a particular bank account the “Balance” column starts with the amount of the first transaction on the report even though there is a long history of transactions before that. Usually we want the correct balance forward to appear at the top so that the balance column gives us an accurate cumulative balance as of any particular day or transaction posting.
This week’s QuickBooks video covers a pretty simple and common issue that many people don’t even realize is an issue until it is pointed out to them.
Have you ever tried to create a “Check Register” report? It’s a pretty basic thing – to want to see the activity in your checking account in a report format which can be much easier to read compared with just going in and looking at the check register itself. The problem you run into is that the default report that you can run for this is not that pretty. It isn’t easy on the eyes. Moreover if you are not careful you may not realize the the running balance is not accurate as it will only reflect the transactions on the report and not the balance that should really be carried forward as of the starting date of that report. This week’s QuickBooks video shows you how to set up a check register report in QuickBooks which addresses this issue and gets you the result you really want. I also export the report into Excel and show you some formatting tips for getting the report to look really nice!