How to Review QuickBooks 2010's Accountant & Taxes Reports
Use QuickBooks 2010's Accountant & Taxes menu to organize your account information in a variety of reports. The Accountant & Taxes menu appears when you choose Reports→Accountant & Taxes. Hidden on this submenu are over a dozen menu commands and reports:
Adjusted Trial Balance: Produces a Trial Balance Report as of a particular date, including adjusting journal entries that are clearly highlighted.
Trial Balance: Produces a Trial Balance Report as of a particular date.
General Ledger: Produces a report that simply lists the accounts in your Chart of Accounts, and then changes the account for the month or year or whatever accounting period you specify.
Transaction Detail by Account: Produces the report that you would expect: a list of the transactions that affect a particular account.
Adjusting Journal Entries: Produces a list of the journal entries that you or someone else marked as being adjusting journal entries.
Journal: Produces a report that lists transactions by transaction type and number.
Audit Trail: Pretty important for accountants — particularly for accountants who are concerned or worried that transactions have changed when they should not have changed. The Audit Trail Report lists transactions by the person entering the transactions and lists changes to transactions and identifies who made the changes.
Closing Date Exception Report: If you finalize the accounting data for the year (referred to as closing the books), the Closing Date Exception Report identifies changes to closed transactions.
Customer Credit Card Audit Trail: An audit trail report that lists only credit card transactions. Perfect for people with heavy credit card transaction volumes they can’t make heads or tails of.
Voided/Deleted Transactions Summary: Produces a summary report of voided transactions and deleted transactions.
Voided/Deleted Transactions Detail: Produces a detailed listing of all voided transactions and all deleted transactions.
Transaction List by Date: Lists transactions in order of date of entry.
Account Listing: Lists all the accounts on your Chart of Accounts. The report also gives the account balance and indicates the line on the tax return where the account is reported.
Fixed Asset Listing: Lists all the fixed assets on your Fixed Assets List.
Income Tax Preparation: Shows on which lines of which tax forms account balances are reported.
Income Tax Summary: Uses your income tax preparation data to show what amounts should be reported on what lines of your tax forms. For example, if you're a sole proprietor filing a Schedule C tax form, QuickBooks looks at all the accounts that you use to track gross receipts or sales. Then it totals the balances in those accounts and shows the actual value that should be reported on the gross receipts or sales line of your Schedule C tax form.
Income Tax Detail: Gives the same information as the Income Tax Summary Report — except that this report shows the individual accounts that get bunched together to produce the tax line total.