QuickBooks 2012 Accounts Receivable and Inventory Reports - dummies

QuickBooks 2012 Accounts Receivable and Inventory Reports

By Stephen L. Nelson

A good accounting system such as QuickBooks 2012 produces most popular or useful reports. For example, one very common report or financial statement is a list of the amounts that your customers owe you. It’s a good idea to prepare and review such reports on a regular basis to make sure that you don’t have customers turning into collection problems.

The following table shows how the simplest sort of accounts receivable report may look: Each customer is named along with the amount owed.

An Accounts Receivable Report at End of Day
Customer Amount
W. Churchill $45.12
G. Patton 34.32
B. Montgomery 12.34
H. Petain 65.87
C. de Gaulle 43.21
Total receivables $200.86

The following table shows another common accounting report — an inventory report that a hot dog stand may have at the start of the day. An inventory report like the one shown would probably name the various items held for resale, the quantity held, and the amount or value of the inventory item.

An Inventory Report at Start of Day
Item Quantity Amount
Kielbasa 2000 $900.00
Bratwurst 2000 1,000.00
Plain buns 2000 500.00
Sesame buns 2000 600.00
Total inventory $3,000.00

A report such as this is useful to make sure that you have the appropriate quantities of inventory in stock. (Think of how useful such a report would be if you really were planning to sell thousands of hot dogs at major sporting events in your hometown.)