One of the most useful aspects of QuickBooks Online (QBO), a robust tool for managing money, is the ability to “memorize” reports. Users can store personalized copies of financial reports for later use using memorization in QBO. To ensure quick access to important financial data with just a few clicks, you may keep your choices and avoid having to configure a report with unique parameters each time you need it. We’ll go over the value of learning reports in QuickBooks Online, how to accomplish it, and some useful organizing tricks for your stored reports in this post.
Understanding Memorizing Reports and its Importance
When you save a personalized version of a financial report in QuickBooks Online, you may memorize it and retrieve it at a later time without having to reapply the same filters or settings. When you commit a report to memory, you preserve it for future reference and retain all of your customized settings, including date ranges, filters, and particular columns.
This is a really helpful tool if you or your company read reports on a frequent basis. You may ensure consistency and save time by running the stored version of the report rather than having to reconfigure it each time you need it.
Main Advantages of Memorizing Reports:
- Time-saving: Get rid of the need to constantly modify the same report.
- Consistency: It lowers mistakes by ensuring that the same parameters and settings are used each time the report is performed.
- Accessibility: With only a few clicks, you access reports that you use regularly.
- Cooperation: Provide team members who might require the same data with reports you have committed to memory.
For instance, you may memorize it once and easily recover it later if you regularly create a “Monthly Sales Report” with certain filters for client type, sales areas, and date periods. You won’t have to repeat the procedure each time you create the report because your precise customizations will be kept in this manner.
Steps to Memorize Reports in QuickBooks Online
Report memorization in QuickBooks Online is easy and straightforward. Everything you need to know to begin using QuickBooks Online Memorized Reports is provided here.
Memorize the Report
You may save a report with its current customization options when you commit it to memory.
- Locate and open the report you wish to commit to memory.
- Choose Customize.
- After making your desired customizations to the report, choose Run report and then save customization.
- Give the report a meaningful name by filling in the Custom report name field.
- To include this report in a group, click Add this report to a group, pick an already-existing group, or start a new one.
Note: Grouping reports enables you to arrange them in your list of reports that you have committed to memory. After that, you can set up a timetable for emails to be sent to the designated recipients of each report in the group. Only QuickBooks Online Essentials or Plus have access to this function.)
- To distribute the report to other people, click Share with and choose the recipients. The report will be included to the My Custom Reports of other users upon sharing it. But only current users will have automatic access to the report; subsequent invitees to the firm won’t.
- After you’ve adjusted the necessary settings, click Save.
Note: To maintain the modifications made to a custom report, you must save it once again after making any customizations.
Locate the Report you want to Change or Eliminate, Run it, and Export it to Excel.
Following your memorization of a report or set of reports, you are able to Locate, Run, Excel Export, Edit, or Delete them from My Custom Reports.
Locate the Report or Collection of Reports.
- Select Reports.
- Choose Custom reports. A list of all the reports you have memorized, or a collection of them, will appear.
Run a Report or Set of Reports, Modify, Remove, or Export to Excel (or PDF).
- Select Reports. Next, choose Custom reports.
- Locate the report, or reports, that you want to commit to memory.
- Choose the Action column ▼ dropdown menu and select the options of Edit, Export as Excel, Export as PDF, or Remove.
Schedule a Time and Send out details via Email for a Report or Group that you have Memorized
You can add the reports to a group if you wish to email many reports to the same recipients at the same time. You may set up an email reminder to be sent on a regular basis once the reports are in the same group.
Note: QuickBooks Online Simple Start does not support this functionality.
- Select Reports. Next, choose Custom reports.
- To schedule a report group, locate it and choose Edit from the Action column.
- Activate the scheduled email feature.
(Note: In the event that the report belongs to a group, it will adhere to the agenda established by the group. It will be necessary for you to delete a report from a group if you would prefer not to transmit it.)
- Configure the recurring email.
(Tip: Select Monthly and Every 3 months for the interval if you want to create a quarterly calendar. You are unable to select the 29th, 30th, or 31st day of the month for Monthly and Twice a Month as these days are not included in every month. But you have the option to select the last day of the month.)
- To transmit the report, or reports in a group, email the following information:
From: The address from your user ID is this one. By choosing the Incorrect? Link, you may adjust it if it’s off.
To: Enter the email address of the recipient (name@somewhere.com). Use commas to divide if there are more. Leave out all spaces. For an example, select Format?
Cc: (Optional) Provide addresses for copies, if any.
Subject: It starts with the report’s name. You are able to alter it.
Note: (Optional) The report or collection of reports is attached and comes after the note.
- Click the checkbox next to Attach the report(s) as an Excel file if you wish to send the report or collection of reports as an Excel file. If not, HTML format is used to send the report(s).
- Choose Save, then click the exit button.
Organizing Memorized Reports: Some Tips
Use Clear and Detailed Names
Pick a report name (e.g., “Monthly Sales Summary” or “Quarterly Expense Report“) that expresses the purpose of the document effectively when saving it. Finding the appropriate report later on is much simpler as a result.
Reports with Similar Groups
To classify reports by category or function, use the grouping feature. One group for “Sales Reports” and another for “Expense Reports,” for instance, may exist. This makes your stored reports more accessible and organized.
Evaluate and Update Reports Frequently
You might need to change the date ranges, filters, or other report choices as your company expands. Periodically check that the reports you have committed to memory still meet your needs.
Make Use of Sharing Choices
Use the sharing option to provide access to a group of workers or accountants who require the same reports. By ensuring that everyone is working with the same data, consistency and teamwork are encouraged.
Conclusion
One useful tool for companies that frequently require access to customized financial data in QuickBooks Online is the ability to memorize reports. You may save time, increase accuracy, and simplify the financial management of your company by storing your report settings. Memorized reports are an effective method to keep track of your financial information, whether you’re tracking sales, keeping an eye on spending, or getting ready for tax season. Use this tool to reorganize your reporting procedure and concentrate on what really matters: effectively managing your business!
Frequently Asked Questions
Can I Provide Reports I’ve Memorized to Someone else?
Yes, sharing a customized report with other users who have access to your QuickBooks Online account is an option that you have when you save it. Teams or accountants that need to access the same reports will find this useful.
Will Newly Acquired Data Refresh a Report that is Committed to Memory?
Yes, each time a report that has been committed to memory is executed, fresh data is retrieved. The data will reflect the most recent information put into QuickBooks Online, but the report options (filters, columns, date ranges, etc.) will stay the same.
Can I Export a Report that I have Memorized?
Yes, memorized reports may be exported in the same manner as regular reports. A report that has been memorized may be sent straight from QuickBooks Online, or you can select the Export option to download it as an Excel or PDF file.
What Distinguishes QuickBooks Online Memorized Reports from Regular Reports?
Standard reports are included in QuickBooks Online as standard reports. These may be customized, but unless you save it, you will have to start again every time you run the report.
Memorized reports are your own, customized versions of regular reports that are kept with certain configurations. This way, you can easily retrieve them without having to constantly apply the same filters or configurations.
Can I Memorize a Certain Number of Reports?
In QuickBooks Online, the quantity of reports you may commit to memory is not strictly limited; nevertheless, grouping reports together for convenient access is a recommended practice, particularly if you have a lot of reports committed to memory.
