Chapter 10: QBO REPORTS

Chapter 10: QBO REPORTS

1. Financial Statements

   • Profit and Loss (also called Income Statement).
   • Balance Sheet.
   • Statement of Cash Flows.

2. Tags

   • Tags are electronic labels
   • Tags can be added to money in and money out transactions.
   • Tags can be customized to meet specific business needs.

3. Accounting Essentials Reports

   • Financial Statements used by investors and creditors.
   • Tax forms and reports to provide information to tax authorities.
   • Management reports to provide information to management for operating and business decisions.

4. Adjusted Trial Balance

   • See Chapter 10.2 or Appendix D for troubleshooting tips.
   • Crosscheck your Adjusted Trial Balance with the Adjusted Trial Balance provided in your text.
   • The Adjusted Trial Balance is prepared after adjusting entries are made to view updated account balances and verify the accounting system still balances.