QuickBooks Financial Insights


QuickBooks Accountant and Tax Reports provide you with financial and tax information in the form of reports that contain adjusted journal entries, trial balances, listings of fixed assets, and income tax details. You can save considerable time and effort using bookkeeping tools such as QuickBooks. If you would rather have an expert opinion, QuickBooks offers a way to prepare a copy of your data for your accountant or bookkeeper. You can limit the access you want to offer using the customization tools in the software.

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Accountant Only Reports

This kind of report would contain information for your accounting employees. Adjusted trial balances and journal entries are the main features of such reports. Entries posted to the general ledger are fully detailed in the report.

Account Activity Reports

Such reports highlight all transactions and activities related to your account. Some of the major reports to be included are mentioned below.

General Ledger

The General Ledger is basically a list of all transactions posted to the respective accounts. It is the job of an accountant or bookkeeper to keep track of beginning and ending balances and include them in the general ledger.

Trial Balance

This report highlights the ending balance for each account. These reports give you a clear picture of your current financial position, which is important for your future business strategy.


A journal report highlights all of your recent transactions in the form of a listing. The listing is always in chronological order.

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Audit Trail

The audit trail shows all changes that will affect your company’s books after a specific date.

Voided Transactions

This is a report that consists of all null and voided transactions. An accountant prepares the report and its history in the accounting software. The history details why the specific transaction was canceled or called void.


QuickBooks is also quite efficient in providing you with the details of your accounting lists. The name of every company-related account and its remaining balance formulates an account list. The fixed asset listing, a detailed description of an organization’s fixed assets along with their date of purchase and cost, helps the accountant make informed decisions.

Income Tax Reports

Filing an error-free and on-time income tax return is imperative for any business. The process must be completed by a professional or someone who understands IRS rules and regulations completely. QuickBooks allows you to make various income tax reports for multiple purposes.Complete Controller. America’s Bookkeeping Experts

Income Tax Preparation

You have a chart of accounts and an assigned tax line specific to each account. The preparation reports give you a complete picture of your finances and associated taxes.

Income Tax Summary

The core of an income tax summary lies in the reported amount on the tax form and the detailed explanation of its calculation. It offers a comprehensive view of one’s fiscal responsibilities to the government. A detailed description can be included in the summary or a separate report. It is entirely at an accountant’s digression.

Some other reports that can help accountants make better decisions are as follows.

Financial Reports

Financial reports include your balance sheet, cash flows, and income statement. These are vital to decision-making and can provide details about your account’s payables and receivables. Knowing what you owe or what others owe you is critical to your future strategy.

Sales Reports

Sales made, orders placed, and pending orders are included in the sales reports. The sales team hands over the information to the accountant, converted into readable information that makes sense. Sales are usually raw numbers; therefore, you must make the report easy to comprehend to make sense of the data.

Other types of reports include vendor and payable reports, payroll reports, budgets, and forecasts. All are vital to an organization’s success.

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