General Ledger Quickbooks Report: 4 Ridiculously Easy Steps to Find and Customise

on Accounting Software, data management, financial reports, QuickBooks, QuickBooks Tools • November 12th, 2021 • Write for Hevo

QuickBooks by Intuit is one of the most popular Accounting Software for Small Businesses with affordable pricing, an extensive feature set, and the ability to integrate with over 650 other Business Tools. Quickbooks has a user-friendly and straightforward design that allows even Business Professionals with limited finance knowledge to find the information they need to start carrying basic bookkeeping.

Quickbooks has numerous reporting options, including efficient reports for tracking money and gaining important insights. General Ledger Quickbooks Report is one such imperative for tracking transactions from all accounts such as Cash, Accounts Receivable, Equity and Undeposited Funds. Such reports provide you with information to analyse and monitor your Business’ financial health.

This post will guide you through Quickbooks Accounting and the General Ledger Quickbooks Report with additional options on customisations and saving your custom templates.

Table of Contents 

Introduction to QuickBooks Accounting by Intuit

Quickbooks Accounting by Intuit: General Ledger Quickbooks Report
Image Source: QuickBooks- Intuit

Developed by Inuit, Quickbooks is an Accounting Software primarily catering to Small and Medium-sized Businesses (SMBs). It provides various features including Bill Management, Payment, Payroll Management, Bank and Credit Card Linking, Report Generation, Supplier Management and many more. It even lets you add your own Accountant so that he or she can work directly with your accounting books.

Quickbooks Software is amazingly easy to use and it works on the Cloud, which gives users the “accessibility from anywhere & any device” advantage. Quickbooks by Intuit provides free unlimited support for the times when you or your team members get stuck or would like to know how to navigate the software and use its features. 

Globally, Quickbooks now serves 7 million customers with 40% of online customers being Small Businesses, out of which 30% are Product-based Businesses.

What is the General Ledger Quickbooks Report?

A General Ledger Quickbooks Report gives you an overview of all the financial activity of your Business or Enterprise, across different accounts for a specific date range. The General Ledger Quickbooks Report includes the account summaries as well as details of every transaction going in and out of your accounts. It is not just categorised by date, but also by account type. A detailed explanation of the general ledger report can be found here.

Let’s now have a look at how to find and configure the General Ledger Quickbooks Report in the Quickbooks Accounting Software.

Prerequisites to Discovering Quickbooks General Ledger Report

There’s only one prerequisite: You should have a Quickbooks Plan. If you don’t have an account on Quickbooks, you can sign up and create one on Quickbooks’ official website. There is also the option of a 30-day free trial, which you can find here > Quickbooks Signup Page.

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Part 1: Finding the General Ledger Quickbooks Report

Finding and using your General Ledger Quickbooks Report is pretty straightforward. These are the steps you need to follow:

Step 1: Log in to your Quickbooks account and go to ‘Reports‘ from the left menu.

Step 2: Within the ‘Standard’ tab, scroll down to the ‘Accounting Reports’ option. You should see the ‘General Ledger report there.

Quickbooks Reports Page: General Ledger Quickbooks Report
Image Source: Self

Alternatively, you can search for ‘General Ledger’ in the Search box on the top, and click on the suggested option. That should open up the General Ledger Quickbooks Report for you. 

The General Ledger Quickbooks Report will look something like this:

Quickbooks General Ledger Report: General Ledger Quickbooks Report
Image Source: Self

Part 2: Customising the General Ledger Quickbooks Report

Click on the ‘Customise button in the top right of the report screen. You will see 4 sections of customisations for the General Ledger Quickbooks Report that you can perform:

Customisation Section 1: General

Customising Quickbooks Report in General Section: General Ledger Quickbooks Report
Image Source: Self

Over here, you can set the date range, accounting method, number format, and determine the treatment of negative numbers. You can read about the difference between cash and accrual accounting from this article

Within the number format, you can determine whether to show all numbers divided by thousand (essentially implying that all values shown in the report are in thousands) or whether you want to show currency without paise (essentially whether you want to round off decimals or not).

For negative numbers, you can choose their display format, and whether or not they should be coloured in red.

Customising Quickbooks Report on Numbers: General Ledger Quickbooks Report
Image Source: Self

Customisation Section 2: Rows/ Columns

Within this section of General Ledger Quickbooks Report customisation, you can select the columns that you would like to see in your report and the order of the columns.

Customising Quickbooks Report in Rows/Columns Section: General Ledger Quickbooks Report
Image Source: Self

You can check the columns that you want to keep and uncheck the ones you don’t want. You can use the drag symbol (six dots) before the checkbox, to reorder the columns. 

Customisation Section 3: Filter

Over here, you can filter the General Ledger Quickbooks Report by either the distribution account or by the account. You can find the difference between filtering by distribution account or account here. The key takeaway is that ‘Account refers to the actual source of money (bank, credit card, etc.), whereas a ‘Distribution Account’ is the account used to track that amount (like a Profit and Loss Account). The image below will help bring clarification:

Customising Quickbooks Report in Filter Section: General Ledger Quickbooks Report
Image Source: Self

You can specify the filter in terms of either an Account group (like ‘All Asset Accounts’), or by selecting accounts manually (like ‘Deferred CGST’, ‘Deferred IGST’, etc.)

Customising Quickbooks Report in Filter Section Distribution Account: General Ledger Quickbooks Report
Image Source: Self

Customisation Section 4: Header/Footer

Over here, you can determine the contents of the report’s header and footer, from the options provided along with the alignment for the header and footer.

Customising Quickbooks Report in Header/Footer Section: General Ledger Quickbooks Report
Image Source: Self

These are the various customisations that you can make to your General Ledger Quickbooks Report. Make sure to click on ‘Run Reportafter every customisation, to see its effect. 

Saving the Customisations

If you are going to repeatedly use particular customisation for your General Ledger Quickbooks Report, you can save that customisation by hitting the ‘Save Customization’ button.

Saving the Customisations on Quickbooks Report: General Ledger Quickbooks Report
Image Source: Self

Once saved, the report with that customisation gets saved as a Custom Report and can be accessed from the ‘Custom Reports’ tab within the ‘Reports’ menu.

Accessing Quickbooks Custom Reports: General Ledger Quickbooks Report
Image Source: Self

Conclusion

The Reports Centre in QuickBooks Online is a function that many users rely on in order to get a better perspective on their Business’ Income and Expenses. In this article, we explored one such Quickbooks Report- the General Ledger Quickbooks with simple to follow through steps on finding and customising the report with ways to save and access the saved custom report. 

Small and Midsize Businesses (SMB) rely on a surplus of tools for handling their Business Operations and Customer Relationships, like Quickbooks or Xero for Accounting, Pardot or Salesforce for CRM activities, Google Analytics, Mailchimp, Google Ads for Marketing, Promotion, Analytics and Email Campaign Management and the list goes on. While these highly supportive tools make Business Operations smooth, they also bring inefficiencies and disconnected data. 

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In the comments section below, share your thoughts on learning about Quickbooks Accounting, the General Ledger Quickbooks Report and which other Quickbooks Reports do you use frequently. We’d like to hear your opinions and suggestions.

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