The feature of generating data reports using the QuickBooks accounting software is very fast. This feature of reporting in QuickBooks adds more power to the QuickBooks accounting tool which is already considered as a powerful accounting tool by many small and medium businesses around the world.
The reporting feature of QuickBooks enables businesses to get a real time analysis of their businesses by utilizing the data that is recorded and stored in QuickBooks. The QuickBooks accounting software also helps you in customizing the reports as per your wish or your business requirements. Let us explore here that how you can build a customized or in other words a personalized report using the QuickBooks accounting tool.
In QuickBooks accounting software, the items and assemblies needed for the manufacturing of a final product are recorded in the build report. The process of creating a personalized or customized report in QuickBooks Premier version or QuickBooks Enterprise Solutions version either involves creation of a Bill of Material (BOM) for each custom item, modification of the BOM for the assembly item each time you create it, or modify the BOM at the time of issuing the build.
The last option is feasible only in the case of QuickBooks Enterprise Solutions, whereas the first option is not possible if there are many assembly items or numerous variations that are possible. In the second and third options, you may face an issue that is you cannot go back to view the item record and take a printout of the BOM so that you can see what was used by you.
You would not be able to see the components that were used by you to build the BOM earlier. Also, you would not find any report in QuickBooks that reflects the components that were used by you. You can avoid facing this problem by using the Custom Transaction Detail Report in QuickBooks. Here is how you can use the Custom Transaction Detail Report feature in QuickBooks.
How to Use Custom Transaction Detail Report Feature in QuickBooks
From the home page of QuickBooks accounting software, you need to first select the Reports tab, then Custom Reports, and then finally select Transaction Detail.
Now after building the assembly, you can add more details in the assembly by following the steps explained below:
Total Time: 10 minutes
Go to Custom Reports from the Reports section.
Click to select the Transaction Details option. This option of transaction details allows you to add more details about the components used to build the transaction.
Now click on the Filter option. A drop down window will be displayed. On this displayed drop-down box, click on the ‘Account’ option.
Now select the option Inventory Clearing, and just under it select the Yes option next to Include Split Detail
Now in the same window, go to the Display tab and then remove all the unnecessary columns. Here you can also add more columns from this tab. You need to ensure here to add a column for quantity, item name and type also.
The Zero-Sum Check allows you to add a customized item.
Now you need to create a Clearing Account where you can add these checks. The Clearing Account is a type of account in which you can record transactions temporarily. Later at any given point in time, you can export these temporary recorded transactions to any permanent account.
Once you have created the Clearing Account, select a filter for the created Clearing Account, and then select the radio button next to Yes for ‘Include Split Detail’
Now you have to add columns in this Clearing Account by going to the Display tab.
Once you have done all this, and if you are using the QuickBooks Enterprise Solutions version then you are ready to print this report. A single click is enough to print directly the items used in that particular build.
Now when you have customized all the items then they are ready to be used in the creation of Reports. This will enable you to analyze your production and build activities in a better way. Also, you can cut down the cost of building your manufacturing product by using this customized manufacturing report.
Need Professional Help?
If you still have any query or doubt related to the Custom Transaction Detail Report feature in QuickBooks, then you can reach out to our QuickBooks Support Team. Our QuickBooks experts can offer you instant tech assistance in creating a customized report using the Custom Transaction Detail Report feature in QuickBooks. Also, our QuickBooks experts can help you resolve any technical issue that you might face while running QuickBooks to manage your business finance. Our QuickBooks tech professionals can even assist you in updating the QuickBooks accounting software by dialing 📞, migrating from QuickBooks Desktop to QuickBooks Online, help you in connecting an add-on program to QuickBooks Desktop, and in performing many QuickBooks related tasks.
Read Also – QuickBooks Enterprise: Unique Advantages
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