If you run a business, you need proper financial documentation or a financial report to ensure legal compliance. To make this process easier, many businesses choose QuickBooks Online because it is a web-based accounting software, and it is able to convert raw bookkeeping data into actionable financial documents through the graph report. This report helps businesses to see the graphical overview of their financial data and allows businesses to make financial decisions, track business cash flow, and more. Here we are learning about the graph reports in QuickBooks, with the procedure to create and use the graph report in detail.
What are Graph Reports in QuickBooks?
In QuickBooks, graph reports are the visual element or a tool used to transform raw financial data into visual data. That means it shows the complex data, their relationships, and detailed information in a simple and understandable format, such as graphs, diagrams, charts, and maps. These graphical reports are available in their three types. Bar charts represent the total financial data; second, pie charts show the data summary; and third, line graphs track expenses and income over a particular period of time.
Benefits of Using Graph Reports in QuickBooks
Graph reports in QuickBooks serve many benefits to QB users as compared to the regular or raw financial reports. The standard financial report provides the raw financial data, but the graphical reports provide custom and advance report to make the financial data analysis process easy. So in this section, we are providing a list of benefits that you can get from the graph reports in QuickBooks.
- It instantly transforms the data and displays it as a graph.
- The graph-formatted data makes the financial analysis process easy.
- With better financial analysis, businesses can make any financial decision easily.
- It converts complex data into visual data, and that is more understandable than the raw data.
- It improves business insights by refining the complex data in real time.
Best Ways to Create and Use Graph Reports in QuickBooks
To create and use graph reports in QuickBooks, you need to know about the requirements before creating graph reports. First, you need an active QuickBooks Online Advanced or QBO accountant subscription, and ensure that your financial data is properly categorized. After understanding all the requirements, you can proceed to the graph reports creation process. Here, we provide proper steps to create and use graph reports in QuickBooks Online.
- First of all, detect the Reports section in the QuickBooks Online dashboard.
- Then choose Performance Center and tap on the Add New Chart button
- Then click on the particular metric, such as Profit and Loss, Sales Report, or Expense Report.
- After that, to enable the graph view, use the visualization/chart options.
- Then modify the data range, filters, and display settings of the graph.
- Now, just save the modification and export the graph report in PDF or Excel format.
How to Customize Graph Reports in QuickBooks?
To customize graph reports in QuickBooks, follow the steps below.
- In the QuickBooks Online Advanced Performance Center tab, you need to change or edit the chart type to choose different visualization options.
- To track the highest priority goal that gives better results, you need to choose specific metrics such as Quantity, income, and expense.
- You can also apply filters to shorten the data to make the analysis process easier.
- To see the growth, you need to compare matrics monthly or yearly basis.
Troubleshoot Graph Reports Issues in QuickBooks
Sometimes, different graph reports issues arise in QuickBooks due to damaged data, incorrect settings, or adding transactions in the wrong categories. In this section, we are discussing these QuickBooks graph reports issues and their solutions in detail.
Graph option not visible
Graph option not visible is a rare error that makes problem in representing the QuickBooks visual reports. This error occurred due to the DPI settings issues, cached data problems, or screen resolution problems. By updating display preferences and clearing cache and cookies from the search engine, you can troubleshoot this error.
Data not showing correctly
If you find an issue in QuickBooks graph reports, like Data not showing correctly, then you need to understand that it is an error and it highly impact on your business and its financial accuracy. This error mainly arises due to incorrectly configured report filters or a damaged company file. To solve this issue, first you need to verify the report date range in filter settings, and check the accrual or cash settings.
Report loading issues
Report loading issues are a common problem that creates a barrier to viewing financial data and delays financial decision-making. Large amounts of data and corrupted company files often cause this issue. To reduce these problems, you need to resolve the company file issues.
Conclusion
Visual reporting is important because it transforms the raw and complex data into actionable insights, and that improves the user’s capability to make any financial decision in a short time. So here we give you detailed information on the graph report and its related information. We hope this article helps you to understand graph reports in QuickBooks and deliver the best process to create and use graph reports in QuickBooks.