Process of Creating the Custom Transaction Detail Reports in QuickBooks

In order to ensure that all the transactions recorded by you are done properly, it will need more efforts from you. You have to get the total additions and deductions added manually from the statements that are provided by the bank and compare it with the report of Custom Transaction Detail.

To get that done, follow the steps given below:

  • Go to menu bar and choose Reports then Custom Reports and after that Transaction Detail. You will see that dialog box of Modify Report opens up
  • Select the dates from the option of From and To, in order to get the period matched for the reconciling you are doing. If in case it starts from the file’s beginning, then you may have to leave the date of From blank and get the To date entered
  • Tap on the tab of Filters
  • Now in the box of Choose Filter, where the filter of Account is highlighted, select bank account from the list of drop-down
  • After that click on OK

Customizing the report of Transactions Detail by Account in order to get the Journal Entries included in it. To do that:

  • Go to the left panel and then click on Reports
  • After that in search box, write Transaction Detail by Account
  • Get the Report period changed and then click on the button of Customize
  • Tap on Filter in order to expand it and then click on the box of Transaction Type and from the list of drop-down, select Journal Entry
  • Now from the drop-down menu of Account, select All
  • After that tap on the Run Report

Difference between the Transaction Details by an Account and General Ledger in QuickBooks

Transaction Detail by Account and General Ledger account both provides the crucial information related to the how money is managed by your company.

1. Double-Entry Bookkeeping

System of double-entry bookkeeping is used by QuickBooks, which requires the offsetting credit in one of the accounts for each debit made in another. Say for example: debit might be created by you in the Accounts Receivable, where your business looks forward to receiving the credit from particular account from which the debit was initiated.

If the debit was initiated by the customer, then the credit must offset debit as soon as you are paid by the customer. Both the report, be it Transaction Details by Account report or General Ledger report, will allow you to look at the double entries for the account.

2. General Ledger Reports

Default view of the General Ledger report ensures that you are able to view the summary of transactions, all of them, for the month which is going on (current month). Ending balance, starting balance and all the transactions of that period which is organized by the account will be provided by General Ledger report.

Balance ledger exhibits the equal credit amount for each debit. With General ledger report, you can quickly get the registers of your scanned for the ending balances that are unexpected or for the credits that are posted to the expense accounts as well as debits that are posted in the revenue accounts.

3. Transaction Detail by Account Reports

Transaction Detail by Account Reports runs and work mostly in the same way as General Ledger reports work and also provide same information. Now, unlike the General Ledger report which displays all the account of yours, Transaction by detail Account report just shows the transaction for one single account.

Typical information that is present in a default Transaction Detail by Account report comprises of transaction’s type, account that is used in transaction, total, subtotals and date.

4. Customizing Reports

By making use of the drop-down menu of Dates, you can get the time period modified, which is displayed in transaction by Details Account as well as in General Ledger account.

You can also see the additional information related to the transaction, by just clicking twice on transaction present in anyone of the report. Reports could also be sorted out by the amount ascending, date, document number, combination of the dates, descending amount and the transactions.

Option of The combined Date/Transaction enables you keep the line items -all of them related to the single transaction clubbed together.

5. Using the Reports

While looking for the specific transaction, you are allowed by general ledger to quickly look through all the accounts in order oidentify the possible errors. General ledger report can be used to get the information displayed of every account.

If you are able to find the suspicious error or transaction, then you can make use of Transaction Detail by Account report and get the search filter created with the button of Customize Report. By limiting the search to the single account, it can make it easy for you to find the transactions that are needed by you.

Issues faced by the Users

Is it possible that a report is run for specific customers as well as for their invoices?

If any such question or some other thing is popping-up in your mind, then without thinking twice just get in touch with our SMB QuickBooks technical support team. Experienced staff at SMB QuickBooks tech support helpdesk will extend their support to you. To get in touch with our QuickBooks experts, you can dial our ?smbaccountants.com.


Further Reading