This just happens to be one of my favorite reports to create, memorize and schedule to be automatically emailed.
I thought with new look of QBOA that I would share a great little report that I teach alongside QBOA basics, even though this report can be created as a regular QuickBooks Online user.
This isn’t a “canned” report that you can find in the existing report list, it has to be built from scratch.
First, sign into to QBOA:
Choose the client from your client list, then go to the Report tab and start with a generic Transaction List by Date report:
Once the report is open, set the date to last month, then click the Customize (or, if you’re using a QBO Global edition, like QBO Australia as seen here, you’ll click the Customise button!), then click Match in the left column. What we want to match is the memo feild, so type in “Reconcile Adjustment”, then click the Run Report button at the bottom of the window.
The reason I still use this report is that over the years, I’ve found that many times, a client will see an amount in the Reconciliation Discrepancies account on a report, realize that this is probably not right, so they’ll change the account – but forget to edit the memo.
Now we need to Memorize (or Memorise) the report and add it to a group. Click the Memorize button at the top of the report and click the radio button to add to a group (Add New if needed)
So we have the report Memorized and Saved to a Report Group, the last step is to schedule it to be sent to your client (or you!) every month.
Head over to the Report List via the Reports tab and filter by Memorized by clicking that on the left hand column. You’ll see your report listed:
Make sure the GROUP is highlighted, and not any of the reports in it and click the Edit button in the bottom right corner of the screen. In the next screen, check the box next to “Set the email schedule for this group”, and enter the interval using the Edit Schedule button,
and then the email address(es) that you want it sent to. You can also choose to have the report attached as a Microsoft Excel file (this is the only place you can send a report as an Excel file in QBO):
Now you’ll have a report automatically sent to you each month that will show whether or not your client has forced a bank reconciliation with an adjustment and can take the necessary action to correct it or use it as an opportunity for education and training for your client.