Start from the closest standard report
Open the report that is nearest to your question. A profit and loss, a sales by customer summary or an aging report each has a Customize button. Changing the report period, the accounting method and the way the data is grouped comes first. Choose cash or accrual consciously, because totals will differ.
Filter and group
Within customize, use filters to limit by customer, vendor, class, location, account or amount. Group the data by month, quarter or customer. Add or remove columns, such as memo, class and the open balance. Keep the number of columns manageable so the report is readable on a phone or in a printout.
Compare periods
Turn on the option to compare to the previous period or the same period last year, with change columns for dollars and percentage. This highlights trends instead of leaving you to subtract numbers in your head. For a small business, a monthly profit and loss compared to the prior year is often more useful than a long list of accounts.
Save, group and schedule
Select Save customization to store your report with a name. Place it into a group, such as Owner monthly or Tax prep. Then set up an email schedule to send it on a certain day to yourself, a partner or your bookkeeper. Scheduled reports reflect the data at the time they run, so schedule them after your usual close day.
Checking that the report is right
A custom report can look polished and still be wrong. Compare the total of a filtered report against a standard one, and check whether a transaction without a class or customer has dropped out. Look at the date range and the basis once more. Use the drill-down to open any figure that seems odd, since clicking a number shows the transactions behind it.
Keep a short list of the three to five reports you review every month, and use the same ones consistently. A report you actually read is worth more than a dozen you built and forgot.
Reports worth building first
Three useful starters are a monthly profit and loss compared with the same month last year, an open invoices report grouped by customer, and an expense report grouped by vendor for the year so far. Together they show profitability, collections and where the money goes.
Add a fourth for tax season: a list of payments to contractors, by vendor, so 1099 preparation does not turn into a scramble. Name each report plainly so anyone on the team can find it.
Give your accountant or lender a user login with limited rights, or export reports as PDF or spreadsheet. Include notes explaining unusual items. Date your exports and keep copies, because numbers may change after later edits. Consistent report packages each month make advisors faster and cheaper to work with.
Worked example with numbers
Start from the Profit and Loss by Customer report. Set the date range to the last twelve months, filter out inactive customers, group by customer and add a percent-of-income column. If the top customer shows 41% of income, that is a concentration risk worth a conversation. Save the report and schedule it to email monthly.
Check it: add up the customer columns, and the total should equal the standard Profit and Loss total income for the same dates and basis.
Mistakes that cost money
Building from scratch when a standard report is close. Not tying to the standard report. Using the wrong accounting basis, cash versus accrual, which changes totals. Saving too many near-duplicate reports so no one knows which to use.
Check your work
Name each saved report for the question it answers, and review them yearly.
Common questions
Can I export a custom report to a spreadsheet?
Yes. Use the export option, then add formulas or charts in your spreadsheet if needed.
Why does my report differ from my accountant's?
Often it is the accounting method, the date range, or a filter. Compare those settings first.
This guide is general information, not tax, legal or accounting advice. Rules, fees and due dates change; check with the IRS, the NJ Division of Taxation or a licensed professional for your situation.