Business and Tax Reports

When you open up Quicken on your Mac, you’ll notice there are several ways to access the reports. Whether it's from the business tab, the dashboard, or the report center, you've got choices.

Income Statement report

This report gives you a detailed breakdown of business revenue and expenses. If the cost of goods sold is included as a tax line item, it will appear here. At the bottom, you'll find the net income, offering a snapshot of your financial health for the selected period.

Business Profitability report

While similar to the income statement, this report provides a streamlined view. Categories are collapsed, offering a quick overview of key metrics. Notably, the gross profit margin and net profit margin are highlighted, making it an essential tool for understanding profitability dynamics.

Business Cash Flow report

This report is ideal for tracking cash movements. Starting with net income from the income statement, it shows how cash flows in and out during a specific period. It provides a clear view of your starting cash position and calculates the closing amount based on adjustments to net income.

Business Sales Tax Liability report

This report provides an organized view of sales tax owed to each Tax Agency. Data is categorized by Tax Agency and Tax Rate, with amounts shown in columns for Total Sales, Non-Taxable Sales, Taxable Sales, and Sales Tax Owed, including totals. Entries without a sales tax agency are displayed under No Agency. This report uses accrual basis accounting to align with most tax filing requirements, with cash accounting support planned for a future update

Business Accounts Receivable Aging report

This report tracks unpaid invoice balances and categorizes them by how long they've been outstanding. It's a valuable tool for monitoring receivables and identifying overdue payments.

Business Cash Flow Comparison report

This report compares cash inflows and outflows across different time periods, helping you identify trends and gain insights into cash management over time.

Business Income Statement Comparison report

This side-by-side analysis of income and expenses helps you compare financial performance across different periods or categories, enabling you to evaluate changes in revenue and cost structures.

Business Client Available Credit report

This report provides an overview of outstanding credit balances for clients, which can be applied to future sales or invoices.

Delving into Comparison reports

Yearning for a year-to-year comparison? These reports are crafted to give you just that. They compare year-to-date metrics against the same period from the prior year. It's a straightforward way to measure progress or identify any shifts.

Personalizing your reports

These reports are versatile. While they initially display data for all businesses, filters allow you to focus. Whether you're narrowing down to a single business, rental properties, or specific intervals like half-yearly or monthly, it's all possible. And for those moments when blending business with personal is essential, Quicken’s got your back.

Enhanced tax reports

On to taxes! Quicken’s revamped its tax reports with better filtering. Typically, these reports will highlight the "default business". For those who work with Schedule C reports, you'll be glad to know they've been integrated into the business reports section.

Seamlessly switching businesses

Got multiple ventures? No problem. Switching between different businesses is simple. A quick toggle, and you're viewing another business's financials.

As you explore Quicken, remember it's designed to be a friendly aide in your financial journey. Don't rush; take your time, and soon you'll be navigating these reports with ease. Always remember, help is just a call or click away.